Bambuser publishes Invitation to subscribe to shares
NOT FOR PUBLICATION, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES OR IN ANY OTHER JURISDICTION WHERE DISTRIBUTION OF THIS PRESS RELEASE MUST BE UNLOCKED.
Bambuser AB (publ) (the "Company") today announces Invitation to subscribe to shares (Swedish only) on the basis of the rights issue that the Company carries out with the subscription period 10 - 24 April 2019.
The Annual General Meeting of Bambuser AB decided on April 4, 2019 to carry out a rights issue of SEK 12,974 million in order to finance the Company's capital requirements in the coming year. This is in line with the Company's new strategy and the initiation of the development of the mobile live video solution for e-commerce that has recently begun together with Wellstreet Services and the IT consulting company Harbour Front. Submitted subscriptions and underwriting guarantees correspond to 100 per cent of the total issue amount.
The Invitation is available on the Company's website (bambuser.com/ir/financialreports) and on Mangold's website (mangold.se). Shareholders with shares registered in their own name will be sent preprinted issue report. Shareholders with nominee registered shareholdings need to contact their nominee for subscription of shares.
Indicative timetable for the rights issue
| April, 8 2019 | Record date for the right to participate with subscription rights in the rights issue |
| 10 – 18 April 2019 | Trading in subscription rights on Nasdaq First North |
| 10 – 24 April 2019 | Subscription period for the rights issue |
| Around. w. 19, 2019 | Publication of outcome in the rights issue |
Certified Advisor
Västra Hamnen Corporate Finance AB | 040-20 02 50 | ca@vhcorp.se
Contact information
Fredrik Ramberg, Chairman of the board | +46 (0) 703 620 815 | fredrik@ramadvisor.se
Maryam Ghahremani, CEO | +46 (0) 708 720 266 | maryam@bambuser.com
or visit: bambuser.com/ir
About Bambuser AB
Bambuser is a Swedish software company that offers B2B solutions for live video. Since 2007, the Company has developed a platform for interactive live video broadcasts enabling live video streaming from mobile phones and web cams to the Internet. The breakthrough occurred in 2010, when the Company’s service was used to report the unrest in Egypt during the parliamentary elections. The following year, videos were produced via Bambuser and used in several television broadcasts throughout the world during the Arab Spring.
Bambuser’s live streaming technology has over the years been installed in more than 50 million devices and millions of news consumers through companies like CNN, BBC, Al Jazeera, Sky News Arabia, etc. Since 2014, Bambuser has chosen to focus on B2B, Business-to-Business, to increase the spread of the company’s products and strengthen its long-term revenue potential. Among the customers are companies as AP, Schibsted/Aftonbladet, NRK & Ilta-Sanomat.