Bending Spoons SpA (NASDAQ:BSP) saw its share price increase by 41.20 percent on Wednesday to finish at $53.46 apiece, as investors mimicked Berkshire Hathaway’s increased exposure to its stock to nearly $1 billion.
In an updated report on the same day, the newly listed technology conglomerate said that Berkshire gobbled up an additional $330 million stake in its shares after initially investing $600 million at its market debut in July this year, effectively owning 4 percent of the company.
The acquisition was made through a private placement, under which Bending Spoons SpA will issue 10 million ordinary shares at a price of $33 apiece.
Photo by Tima Miroshnichenko on Pexels
The securities have not been registered under the Securities Act, which means that Berkshire is restricted from reselling the shares until the equities are registered.
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“For decades now, Berkshire Hathaway has been among the finest and most respected capital allocators in the world, and is a longstanding inspiration for Bending Spoons. We were delighted to welcome Berkshire Hathaway as shareholders at our public listing, and we’re equally delighted to reinforce the partnership through this fresh investment, which underscores our mutual respect and excitement for what lies ahead,” CEO and co-founder Luca Ferrari said.
Despite the dilution effect of the stock issuance, investors took Berkshire Hathaway’s transaction as a vote of confidence in the stock, signaling that Bending Spoons SpA’s business model and growth trajectory are fundamentally sound.
New Acquisitions
In a separate regulatory filing, Bending Spoons SpA noted that proceeds from the private placement will be used for new acquisitions, with the balance for general corporate purposes.
Last month, the company announced that it was planning to acquire AI innovation workspace Miro in an all-cash transaction worth $1.355 billion, closing of which is targeted in the fourth quarter of the year.
In connection with the signed definitive agreement, certain Miro shareholders agreed to invest $295 million of their proceeds into Bending Spoons SpA.
The acquisition, including the investment, is subject to customary closing conditions, including regulatory approvals.
“Miro has grown to around $600 million in annual recurring revenue, nearly 90 percent from business and enterprise customers. After closing, we plan to invest substantially in the fundamentals that its customers value: performance, reliability, and functionality that supports critical collaborative work. We acquire businesses with the intention of owning and operating them for the long term, and Miro will be no exception,” Ferrari said.
113% Revenue Growth in Q3?
As earnings season for the third quarter of the year officially kicked off, investors are now expected to either dispose of positions early or stay on the sidelines ahead of its next earnings call to seek guidance on its growth targets towards the end of the year.
In August this year, Bending Spoons SpA said that it was targeting to grow its revenues in the third quarter of the year by 113 percent at the midpoint, to a range of $733 million to $745 million year-on-year. It also expected adjusted operating income to end at $380 million to $400 million, or an implied year-on-year growth of 111 percent at the midpoint.
For the full-year 2026, revenues are projected to end at $2.78 billion to $2.82 billion, implying a 114 percent growth from last year, while adjusted operating income is expected at $1.46 billion to $1.51 billion, or a 142 percent midpoint growth year-on-year.
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