Imminent lift-off?

Thanks to the incredible public mobilization that has been in full swing for the past four months, Supernova Coop could soon be taking off to fulfill its mission: placing the Cinema Nova into stable orbit. We’re close to our goal! But not quite yet… Read on for details.

As you know, Cinema Nova’s lease will expire on May 11. In order to protect the cinema from real estate pressure, it is imperative that the payment of the long lease we have negotiated and the signing of the notarial deed take place before this date. As this could take several weeks, here we are, irrevocably and stubbornly engaged in the final stretch of this adventure!

As of March 4, after four months of campaigning, Supernova Coop’s public offering has already raised 470,000 Є of B and C shares. That’s a huge amount ! And that’s in addition to the 300,000 € in D shares subscribed in a private offering, not to mention the 6,150 € in equity (A shares) corresponding the initial investment of the cooperative’s founders.

We’re almost there now! But not quite…

Last year, before publishing our information memorandum on June 9, 2023, we projected a total expenditure of 794,000 € ( long-term lease, registration fees, notary and administrative costs, campaign, urgent first renovation works…).

Except that, since these figures were drawn up, some costs have increased, pushing the total expenditure to 833,700 € (5% over the initial forecasts). These include the new heating boiler that Nova is waiting to install to bring it up to the required standards, as well as notary and administrative fees, fund-raising campaign expenses and the cost of running the cooperative…

With just a few weeks to go, there’s still -115.850 € to gather. Unless an asteroid strikes the center of Brussels, we don’t really see what improbable turn of events could prevent us from reaching the finish line! We could even get there right now by taking out a bank loan. But since we prefer not to fatten up a bank and increase the cooperative’s expenses (and, by extension, those of the Cinema Nova), we’re continuing to raise funds !

What if we exceed the target ? We’re not there yet ! But should that be the case, any euro over the 833,700 € would go to finance Supernova Coop’s next project: renovation of the cinema’s rooftops, as well as new thermal and acoustic insulation.

The Cinema Nova would then be ready for a long journey !

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