Induct - Contemplated 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.
Induct AS (“Induct” or the “Company”) contemplates a private placement of up to NOK 15 million (minimum NOK 10 million) in a transaction consisting of 1) an issue of new ordinary shares in the Company with proceeds of up to NOK 12 million (the “Share Issue”), and 2) a secondary sale of up to 184,211 existing shares owned by the Company (the “Secondary Sale”) (jointly, the “Transaction”).
The Company has appointed SpareBank 1 Markets AS as sole manager (the “Manager”) and bookrunner to assist the Company in completing the Transaction.
The subscription price in the Transaction is to be determined through a book-building process with a price of minimum NOK 17.0 and maximum NOK 19.0 per share. The application period commences today, on 2 February 2017 at 09:00 hours CET, and will close on 3 February 2017 at 08:00 hours CET. The Company, together with the Manager, reserve the right to close or extend the application period at any time at their sole discretion.
The minimum subscription amount in the Transaction has been set at NOK 100,000, however the Manager and the Company may in their sole discretion reserve parts of the Transaction for investors applying for a lesser amount. The allocation of shares will be determined after the closing of the application period. The final allocation and completion of the Transaction is subject to board approval, and will be made at the discretion of the Board of Directors, in consultation with the Manager.
For further information, please contact:
Alf Martin Johansen, Chief Executive Officer
+47 90 17 94 35
Based on eight years of collaboration with over 250 organizations globally, Induct offers a digital platform which enables efficient management of knowledge-based projects and processes. In addition Induct enables the organisations to communicate, collaborate and share knowledge in a secure cloud-based network.
Subscriptions is the main source of income for Induct. Induct has customers in 9 countries
Induct is listed on the Merkur Market list on the Oslo Stock Exchange with the ticker INDUCT-ME.