Insplorion receives SEK 29.8 million in the completed rights issue
June 14, 2019
The subscription period in Insplorion's issue with preferential rights for existing shareholders was completed on June 11, 2019. In total, the rights issue was subscribed to 90 %, of which, 70.0 % was subscribed with the support of subscription rights, 5.2 % without the support of subscription rights and 14.8 % by underwriters of the rights issue. The subscription price in the rights issue was SEK 11.50 per share. Through the rights issue, Insplorion receives SEK 29.8 million before issue related costs, which will enable a powerful launch of the company's air quality sensor, while at the same time maintaining a high pace in the company's battery sensor project.
“We are very pleased that our shareholders see the potential of the company and give us the opportunity to now take our first volume product to the market. The demand for cost-effective, accurate air quality sensors is considerable and we look forward to start to fill it”, comments Patrik Dahlqvist, CEO at Insplorion.
Through the rights issue, the share capital in Insplorion increases by SEK 388,371.42 through the issue of 2,589,142 shares. After the rights issue, the share capital of the company amounts to SEK 1,467,181.20 divided on 9,781,205 shares. Paid subscription shares (BTA) in the rights issue are traded on Spotlight Stock Market under the short name INSP BTA until the rights issue has been registered by the Swedish Companies Registration Office and will subsequently be replaced by regular shares.
Allocation of shares without the support of subscription rights within the scope of the rights issue has been made in accordance with the principles set out in the prospectus published on May 23, 2019. Notification of allotment is made through a settlement note sent to the respective subscriber. The shares shall be paid in accordance with the instructions on the settlement note.
Erik Penser Bank AB is financial advisor to Insplorion in connection with the rights issue.
The law firm Westermark Anjou is legal advisor.
Questions are answered by
Patrik Dahlqvist, CEO Insplorion AB, +46 723 62 32 61 or email@example.com
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