The board of directors of TC TECH Sweden AB (publ) has decided to conduct a directed share issue of 1 412 700 shares in accordance with the authorization granted from the company’s annual general meeting on May 9, 2019. The share issue will increase the company’s share capital with 113 016 SEK, while the company
receives approx. 19 MSEK in cash.
The largest subscribers of shares in the directed share issue are three companies in the Swedish insurance company group Länsförsäkringar, known for their strong focus on commitment and long-term ownership. The remaining shares were subscribed by legal and physical persons who are expected to become long-term partners of the company. The subscription price has been set to 13.45 SEK per share based on the closing share price on October 23, 2019.
The share issue constitutes a deviation from the shareholders’ preferential rights. The purpose is to secure additional working and development capital for the company, at the same time as several new and financially strong owners joins the company.
“The fact that renown owners such as companies in the Länsförsäkringar group has chosen to invest in TC TECH is another important validation of our technology and TC TECH’s potential,” says Peter Mattisson, chairman of the board, in a comment.