Freedesk AB carries out a successful funding and prepares for its public listing on AktieTorget planned for spring 2017
In autumn 2016, Freedesk AB (“Freedesk”) received a total of SEK 5 million by means of a private placement, implemented in order to enable the company to follow up important customer leads as well as to finance investments in sales efforts and marketing. The proceeds will also increase the company’s capacity for innovation and enable further work on production efficiency improvements and cost reductions. Freedesk is now preparing for its initial public offering and subsequent planned public listing on AktieTorget, which is scheduled to take place in spring 2017.
People today live longer than in any previous generation, and lifestyles have changed drastically over the past century – from physically hard labor to a world ruled by digital screens and sedentary behavior. This leads to new types of health issues. People today are spending far too much time sitting – on average about 7.7 hours per day and in some cases, even up to 15 hours per day. So many sedentary hours are associated with a number of chronic diseases and premature death. For the employer, this leads to unhealthy personnel including increased costs for sick leave and an inconsistent quality of work. For the society as a whole, the health problems associated with inactivity in the younger generation pose major challenges for society’s health care expenses going into in the future. By providing products that support ergonomic and flexible work and contributes to a more active life-style, a great change in the health and well-being among users can be attained.
Freedesk is a company that has just begun its journey towards developing a wide range of accessible, simple and meaningful products for a more active and healthy lifestyle. Initially, the focus is on the company’s portable product Freedesk Desk Riser, which enables the user to stand up and work. The company’s ambition is to achieve high-volume and profitable sales within two to three years from the completion of the private placement, in Europe and the United States, spread over a number of different models of the Freedesk Desk Riser, and to supplement these with relevant accessories and other products for an increased everyday activity.
In the fall of 2016, Freedesk completed a private placement, which was fully subscribed and supplied Freedesk approximately SEK 5 million in order to allow for expansion of operations. Altogether some 55 parties, both existing and new shareholders, subscribed for shares in the private placement that was implemented. The objective was to enable Freedesk to pursue important customer leads as well as to finance investments in sales and marketing efforts. This will also increase the company’s capacity for innovation and enable further work on production efficiency improvements and cost reductions. Freedesk is planning its initial public offering and listing on AktieTorget in the spring of 2017.
Comments from the CEO, Stefan Westergård
“Thanks to the capital injection, Freedesk has the ability to expand its business operations. We are in an acceleration mode, where we see great advantages to strengthening the company’s financial position so as to be able to pursue important customer leads as well as to finance investments in sales efforts and marketing. A strengthened financial position will also increase our innovation potential and capabilities, and facilitate continued work on production efficiency improvements and cost reduction, while securing our intellectual property rights for use with future products. The team and I warmly thank all investors for their confidence and I look forward with confidence to the days ahead,” remarks Stefan Westergård.
Stefan Westergård, CEO, Telephone: +46 (0)70-255 57 02, E-mail: stefan.westergard@thefreedesk.com
