Camanio Care carries out rights issue through settlement in order to finance international sales
In connection with the Rights Issue announced by Camanio Care May 12th 2017, the company also took a loan of 2,1 MSEK from Recall Capital AB. The capital is mainly being used to develop Camanio Care’s international sales channels and reference clients. Now, the entire amount is fully repaid through a directed issue through settlement.
- We work continuously with the capital structure of the company and with long term funding to optimise our operations. Therefore, we have established a good relationship with Recall Capital as a long-term partner. Recall also helps Camanio Care to strengthen our share’s liquidity in the market.” says Catharina Borgenstierna, CEO.
The reason for deviating from the shareholder’s precedency is that the board of management recognized the need of a fast financing possibility and thereby increasing the international sales activities before the closing and registration of on-going rights issue. Through this settlement Camanio Care can maintain a strong liquidity for operational costs, sales and market activities.
The film that Google produced about BikeAround jDome has created a large international interest that we want to tap into. We also intend to strengthen our sales- and marketing activities in the US and Canada, both by participating in conferences and by securing important key references locally that can help spread the word about our innovative products. This funding is a complement to our earlier communicated rights issue in May 2017.
The board has, with support of the annual meeting’s authorization, decided to do a directed share’s issue through an offset of totally 2,107,025 kronor and 789,148 shares. The offset regards mainly a loan by Recall Capital. No other costs are connected to this rights issue. The subscription price per share is 2.67 kronor, which equals a 12.25% discount on the share’s closing price on October 18th 2017. The total number of shares is now 15,432,118 (14,642,970) and the new registered capital increase to 3 086 423,60 Swedish kronor (2,928,594 SEK).
For further information, please contact
Catharina Borgenstierna, CEO
Phone: +46 733-93 00 07
About Camanio Care
Camanio Care is a company operating in the caretech marketplace with products in robotics, assistive devices and online services that focus on basic human needs. Today, we provide solutions that improve quality and efficiency in the area of activation and mealtime situation, with products such as BikeAround™ jDome® and Screen, Giraff and Bestic®. Camanio Care currently has headquarters in Stockholm, Sweden, subsidiaries in the USA and distributors in China, Denmark, Finland, Norway, Netherlands, UK, Spain, France, Germany, Italy and Australia.
Read more about us at www.camanio.com and subscribe to our newsletter
This information is information that Camanio Care AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on October 24, 2017.