Hiddn Solutions ASA – Successfully completed private placement
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
Reference is made to the stock exchange announcement published by Hiddn Solutions ASA ("Hiddn" or the "Company") earlier today, 16 November 2017, regarding a contemplated private placement (the "Private Placement") of new shares (the "New Shares") in the Company.
The Company has successfully raised NOK 15 million in gross proceeds in the Private Placement through the application and allocation of 7,500,000 New Shares, each share at a subscription price of NOK 2.00 (the "Subscription Price"). The shares issued in the Private Placement correspond to approximately 11.2% of the issued and outstanding shares of the Company.
The New Shares have been issued by the Company’s board of directors in accordance with the authorisation granted to it by the Company’s general meeting on 22 June 2017. The Private Placement remain only subject to the New Shares having been fully paid and legally issued and registered. Of the total 7,500,000 New Shares issued in the Private Placement, 5,884,582 New Shares will be issued on the Company’s ordinary ISIN and be tradable on the Oslo Stock Exchange upon delivery, expected on or about 27 November 2017 while the remaining 1,615,418 New Shares will be issued on a separate ISIN and not be tradable on the Oslo Stock Exchange until the Company has prepared and published a listing prospectus to be approved by the Financial Supervisory Authority of Norway.
Following registration of the new share capital pertaining to the Private Placement, the Company will have an issued share capital of NOK 25,363,802.12, divided into 74,599,418 shares, each with a par value of NOK 0.34.
Aabø-Evensen & Co AS is acting as legal advisor to the Company in connection with the Private Placement.
For further information, please contact:
Carl Espen Wollebekk, CEO
Mobile: +47 930 55 505
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This announcement is not and does not form a part of any offer for sale of any securities, and is not for release, publication or distribution, directly or indirectly, in the United States, or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. Securities may not be sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended. Hiddn Solutions ASA does not intend to register its securities in the United States. The distribution of this announcement into jurisdictions other than Norway may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This announcement has not been approved by any regulatory authority.