Avida's rights issue oversubscribed
On the 27th of March 2023, the board of directors of Avida Finans AB (publ) (”Avida” or the ”Company”) resolved on a rights issue of no more than SEK 201,646,740 with preferential rights for existing shareholders (the ”Rights issue”), subject to the approval of the general meeting of shareholders. On the 20th of April 2023, the extraordinary general meeting of Avida resolved to approve the Rights Issue.
The subscription period in the Rights Issue ended on 10th of May 2023. In total, 8,135,824 shares, corresponding to approximately 80.7 percent of the Rights Issue, was subscribed by exercise of subscription rights. Additionally, applications corresponding to 1,952,756 shares have been received for subscription without subscription rights. Thus, a total of 10,088,580 shares have been subscribed for (by exercise of subscription rights as well as without exercise of such), corresponding to approximately 100.1 percent of the Rights Issue. The Rights Issue will provide the Company with SEK 201,646,740 before issue costs.
As a result of the Rights Issue, the number of shares in the Company will increase by 10,082,337 to 80,658,696 shares in total. Shareholders who did not subscribe for shares in the Rights Issue in proportion to their shareholding will have their shareholding diluted by 12.5 percent, based on the number of shares in the Company after the Rights Issue.
The information was submitted for publication, through the agency of the below contact person, on the12th of May 2023 at 07:00 CEST.
For further information please contact:
Pehr Olofsson, CFO, Telephone: +46 72-402 44 94, E-mail: pehr.olofsson@avida.se
Michael Grosche, Head of People and Communication. Telephone +46 70 307 29 36. E-mail: michael.grosche@avida.se
About Avida
Avida is a credit market company that since the start in 1983 has focused on offering loans to individuals and corporates. We are currently about 140 employees, with headquarters in Stockholm and offices in Oslo and Helsinki. At Avida we are not like everybody else in this business, we will always go that extra mile to help our customers turn their plans into reality and we promise that we always give our customer the proper attention and the chance to get the financing they need.
Avida is under the supervision of the Swedish Financial Supervisory Authority and like all Swedish banks and credit market companies, we are covered by the state deposit insurance.
IMPORTANT INFORMATION
The press release is for informational purposes only and does not constitute an offer to sell or issue, or the solicitation of an offer to buy or acquire, or subscribe for, any of the securities mentioned herein (collectively, the “Securities”) or any other financial instruments in Avida.
The securities mentioned in this press release have not been registered and will not be registered under any applicable securities law in Australia, Japan, Canada, New Zealand, South Africa or Switzerland and may, with certain exceptions, not be offered or sold within, or on behalf of a person or for the benefit of a person who is registered in, these countries.
None of the securities referred to herein have been or will be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state or other jurisdiction in the United States, and may not be offered, pledged, sold, delivered or otherwise transferred, directly or indirectly, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with applicable other securities laws. There will not be any public offering of securities in the United States.
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