Conversion of Convertible debt strengthens the Balance sheet of Clavister
Norrlandsfonden calls the conversion of a convertible bond (2017) into shares, which strengthens Clavister’s balance sheet and equity with 10 MSEK.
September 27, 2017. Örnsköldsvik, Sweden.
Clavister (NASDAQ: CLAV), a leader in high-performance network security solutions, has on of September 29, 2017—in relation to Norrlandsfonden exercising their convertible bond (2017)—initiated registration of the convertible to the amount of 10 MSEK into shares. The convertible bond, initially signed in 2012, entitles Norrlandsfonden to convert at 15 SEK per share. The number of shares received by Norrlandsfonden upon registration will be 666,667.
The registered amount of shares will increase by 2.9 percent to 23,562,051 and the share capital will increase with 66,666.67 SEK to 2,356,205.07 SEK. The registration is expected to be finalized by Swedish Companies Registration Office (‘Bolagsverket’) during the month of October.
The conversion of the bond into shares will strengthen Clavister’s balance sheet and equity with 10 MSEK.
For more information, please contact:
John Vestberg, President and CEO
Clavister is a leading security provider for fixed, mobile and virtual network environments. Its award-winning solutions give enterprises, local and federal governments, cloud service providers and telecoms operators the highest levels of protection against current and new threats, and unmatched reliability. The company was founded in Sweden in 1997, with its solutions available globally through its network of channel partners. Clavister is a member of Intel’s Network Builders program (networkbuilders.intel.com), a cross-industry initiative.