NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL. Sivers IMA Holding AB (Nasdaq First North: SIVE, the Company) today announces that the Board of Directors has decided to conduct a directed new share issue of 7,000,000 shares, authorized by Sivers IMA’s Annual General Meeting on May 22, 2018, at a subscription price of SEK 6.20 per share, which means that the Company will receive SEK 43,400,000 before transaction costs ("the Directed issue").
The subscription price has been determined by a bookbuilding procedure and corresponds to a discount of 5.5 percent compared to yesterday’s closing price. Subscribers in the Directed issue are a limited number of qualified and institutional investors, of which a majority of the shares are subscribed for by a small-cap fund owned by a leading Swedish pension company, Swedbank Robur Ny Teknik and Nordic Cross Small Cap Edge.
Sivers IMA has recently received a number of new contracts for chip delivery to major international players active in fiber and fifth generation mobile networks (5G). In order to take advantage of the positive trend, the Board has decided on a directed issue of approximately 43.4 MSEK. The reason for deviating from shareholders’ preferential rights is to strengthen the company’s financial position in a timely and cost-effective manner in order to meet the increasing demand from customers while broadening and strengthening the ownership base.
“We are very pleased with the development of our new major customers and partners that demand a high level of delivery capability. Through the directed new share issue, we can effectively support this with new capital while broadening the company’s ownership base with qualified shareholders. It is therefore very pleasant that we can announce an issue of MSEK 43.4 and welcome one new small-cap fund as a shareholder in Sivers IMA Holding, and that Swedbank Robur Ny Teknik and Nordic Cross Small Cap Edge further increase their holdings in the company, “says Anders Storm, CEO of Sivers IMA.
For existing shareholders, the issue entails a dilution effect of approximately 6.3 percent of the capital and votes in the Company. The company’s total number of outstanding shares increases from 111,445,825 shares to a total of 118,445,825 shares. The issue means an increased share capital of
3 500 000 SEK from 55 722 912.50 to 59 222 912.50SEK.
Redeye AB acted as financial adviser to the Company in connection with the Directed issue.
For more information, please contact:
Anders Storm, CEO
Tel: +46 70 262 6390
Erik Penser Bank is appointed Sivers IMA Holding ABs Certified Adviser on Nasdaq First North.
Tel: +46 8 463 80 00
This information is insider information that Sivers IMA is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication trough the agency of the contact person set out above, on October 19, 2018, at 08:00 CET.
Sivers IMA Holding AB is a leading and internationally renowned supplier, publicly traded under SIVE at Nasdaq First North Stockholm. The wholly owned subsidiaries Sivers IMA and CST Global develop, manufacture and sell cutting-edge chips, components, modules and subsystems based on proprietary advanced semiconductor technology in microwave, millimeter wave and optical semiconductors. Headquarters in Stockholm, Sweden. Learn more at http://siversima.com.