Anoto Group AB raises SEK 15.6 million through a directed issue of convertibles and warrants
July 31 2023 - 6:45AM
Anoto Group AB raises SEK 15.6 million through a directed issue of
convertibles and warrants
Stockholm, 31 July 2023 – The Board of Directors of Anoto Group
AB (publ) (“Anoto”) has, pursuant to the authorisation granted at
the Annual General Meeting held on 30 June 2023, resolved on a
directed issue of convertibles and warrants. Through the issue, SEK
15.6 million will be raised by the Company before transaction
costs.
All convertibles have been signed by an international
institutional investor. The convertibles are issued at a
subscription price corresponding to 100 percent of the nominal
amount of the convertibles. The convertible loan does not carry
interest. Holders of the convertibles have the right to convert all
or part of the convertible loan into new ordinary shares in the
Company during the period from and including 20 August 2023 up
until and including 20 January 2025. The conversion price amounts
to SEK 0.52 per ordinary share, which corresponds to 130 percent of
the closing price of the Anoto share on 28 July 2023. The loan is
due for payment on 31 January 2025, insofar as conversion has not
taken place before then.
The Board of Directors of Anoto has also decided to issue up to
10,000,000 warrants to subscribers in the above convertible issue.
All warrants have therefore been subscribed and allotted to the
same international institutional investor. Each warrant gives the
right to subscribe for one new ordinary share in Anoto at a
subscription price of SEK 0.52, which corresponds to 130 percent of
the Anoto share's closing price on 28 July 2023, during the period
from and including 1 August 2023 to and including 31 January 2025.
The warrants are issued free of charge.
The reason for the deviation from the shareholders' preemptive
right is that the Company wishes to utilize current market
conditions in a time-efficient manner and to enable diversification
of funding sources with a new debt instrument that does not carry
interest. The subscription price for the convertibles with
associated warrants has been determined after negotiation and is in
the opinion of the Board of Directors based on current market
conditions. The convertible issue complements the rights issue of
ordinary shares that the Company recently carried out and with the
last subscription date of 2 June 2023. The subscription price in
the rights issue amounted to SEK 0.40 per ordinary share and only a
small proportion of the rights issue was subscribed by exercise of
subscription rights.
For further information contact:
Joonhee Won, CEO
For more information about Anoto, visit www.anoto.com or email
ir@anoto.com
Anoto Group AB (publ), Reg.No. 556532-3929, Flaggan 1165, 116 74
Stockholm
This information constitutes inside information as Anoto Group
AB (publ) is obliged to disclose under the EU Market Abuse
Regulation 596/2014. The information was provided by the contact
person above for publication 31 June 2023 at 13:45 CEST.
About Anoto Group
Anoto is a publicly held Swedish technology
company known globally for innovation in the area of
information-rich patterns and the optical recognition of those
patterns. It is a leader in digital writing and drawing solutions,
having historically used its proprietary technology to develop
smartpens and related software. These smartpens enrich the daily
lives of millions of people around the world. Anoto currently has
three main business lines: Livescribe retail, Enterprise Forms and
OEM. Anoto also holds a stake in Knowledge AI, a leading AI based
education solution company. Anoto is traded on the Small Cap list
of Nasdaq Stockholm under ANOT.
- Anoto_Pressmeddelande den 31 juli 2023 (En)
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