Smart Eye completes a directed share issue of MSEK 43,6

The board of Directors of Smart Eye AB (“Smart Eye” or the “Company”) has, based on the authorization granted by the annual general meeting on 27 April 2017, resolved to carry out a directed share issue of 991,089 new shares in the Company with deviation from the shareholders’ pre-emptive rights. The share issue was subscribed by institutional and private investors. The subscription price amounted to SEK 44,0 per share.

In order to strengthen the Company’s financial position and utilize growth opportunities, the board has decided to carry through a directed share issue of MSEK 43,6. The subscription price in the share issue amounted to SEK 44,0 per share, which corresponds to a discount of 6,4 percent to the last five trading days’ volume-weighted average share price. There was a great interest in the directed share issue that was carried out through a so-called accelerated book-building process facilitated by Erik Penser Bank. The share issue was subscribed by Handelsbanken Fonder, Aktia Kapitalförvaltning and a number of private investors.

“The global car industry is at an exciting stage, there is a rapid development towards self-driving cars with increasingly advanced driver monitoring systems. Through a total of 16 design-wins from leading vehicle manufacturers, Smart Eye has taken an industry-leading position. The directed share issue enables a continued offensive business strategy with the ambition to achieve further design-wins and establish our technology in even more car models within the premium-class segment. We are experiencing a rapidly growing interest from the Chinese market, but also greater demand than anticipated from Japan. Throughout the global automotive industry, there are ongoing procurements for the next generation’s driver monitoring systems. We are positioning ourselves for continued successes,” says Martin Krantz, CEO of Smart Eye.

The share issue entails a dilution effect of approximately 9.1 percent on the total number of shares after the share issue.

In order to facilitate the delivery of shares to the investors in the new issue, the Company’s largest shareholder Fouriertransform, has undertaken to lend 991,089 shares to the investment bank Erik Penser Bankaktiebolag. The shares will be returned upon registration of the share issue with the Swedish Companies Registration Office.

In conjunction with the share issue, Erik Penser Bankaktiebolag has been the financial advisor.

For more information
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Email: martin.krantz@smarteye.se

 

About Smart Eye
Smart Eye develops and markets eye tracking systems that can measure and calculate a person's gaze. Today the company has two business areas: Research Instruments and Applied Solutions. Within Research Instruments, Smart Eye provides advanced eye tracking systems to measure and analyse human behaviour. Within Applied Solutions, Smart Eye provides eye tracking software for integration in vehicles.

Smart Eye was founded in 1999, since when it has become established as one of the leading players for eye tracking analysis of human behaviour. This is based on advanced technical software for eye tracking systems, as well as longstanding experience in this industry. From an early stage, Smart Eye has focused on developing eye tracking for the automotive industry and today is one of the few companies in the world with eye tracking systems for integration in vehicles that live up to the extensive requirements set by the automotive industry. Smart Eye currently has 16 design wins concerning serial delivery for passenger vehicles from four global automotive Groups. http://corp.smarteye.se 

Smart Eye is listed on First North. Erik Penser is Certified Adviser and can be reached at +46-8-463 8000. 

This information is information that Smart Eye AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at January 23, 2018 at 08:00 CET.

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