Induct AS - Completion of Private Placement of NOK 10 million
Reference is made to the stock exchange notice published by Induct AS (“Induct” or the "Company") on 4 July 2016 regarding a contemplated private placement (the "Private Placement").
The Board of Directors (the "Board") of the Company is pleased to announce that Induct has successfully completed the Private Placement with the support of new and existing investors, raising NOK 10 million in gross proceeds through the subscription of 526,316 new shares (the "New Shares") at a subscription price of NOK 19 per share (the "Subscription Price").
Notification of allocation will be submitted to investors being allocated shares in the Private Placement today. Payment for the allocated shares is expected to take place on or about 8 July 2016. The New Shares to be issued under the Private Placement will be listed on Merkur Market and delivered to the VPS accounts of the subscribers as soon as practically possible after registration of the share capital increase in the Norwegian Register of Business Enterprises, expected on or about 15 July 2016.
Subsequent to the Private Placement, a repair issue (the “Repair Issue”) will be initiated to repair for the dilutive effect of the Private Placement. The Repair Issue will be directed towards shareholders as of 4 July 2016, as registered in the VPS 6 July 2016, who were not allocated New Shares in the Private Placement. The subscription period for the Repair Issue is expected to take place towards the end of July 2016.
SpareBank 1 Markets AS acted as Sole Manager and Bookrunner for the Private Placement.
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, Induct offers innovation communities, delivered as "Software as a Service," that enable organizations to create, manage, track and measure the innovation process from idea creation through to final implementation and impact reporting. Induct enables its customers to connect with each other in larger networks to share best practices, while deploying and monetizing initiatives - all within a secure, collaborative, and access-controlled cloud-based network. Induct is listed on the Merkur Market list on the Oslo Stock Exchange with the ticker INDUCT-ME.
Induct: “Connecting Innovation Communities™”