Clavister Raises SEK 34 Million Ahead of Listing
Clavister today announces that the company has completed a directed over subscribed new share issue of 2,000,000 shares, providing the company with SEK 34 million ($5.2M) before reduction of transaction costs ahead of listing on Nasdaq OMX First North.
Clavister, a leader in high-performance, high-availability network security for the telecom, cloud and enterprise sectors has completed a directed new share issue of 2,000,000 shares, providing the company with SEK 34 million before reduction of transaction costs.
The directed new share issue is issued to international institutional investors and qualified investors in Sweden at a price of SEK 17 per share.
This will help the company to accelerate development of its market presence internationally, and capitalize on strong interest in its solutions from integrators and strategic vendor partners. Clavister will have a total of 16.02 million registered shares after issuance of these additional shares. The new issue results in an equity dilution of 12,5 per cent (post money) based on the number of shares after the new share issue.
“The new issue strengthens our financial position and enables an accelerated high rate of expansion and increased market penetration of Clavisters unique product offering. It is pleasing to see that interest in participating in the offering has been great among both Swedish and international institutional investors” says Jim Carlsson, CEO of Clavister.
Clavister is a leading security provider for fixed, mobile and virtual network environments. Its award-winning solutions give enterprises, cloud service providers and telecoms operators the highest levels of protection against current and new threats, and unmatched reliability. Clavister’s performance in the security sector was recognised with the 2012 Product Quality Leadership Award from Frost & Sullivan. The company was founded in Sweden in 1997, with its solutions available globally through its network of channel partners.
About Clavister
Clavister is a leading security provider for fixed, mobile and virtual network environments. Its award-winning solutions give enterprises, cloud service providers and telecoms operators the highest levels of protection against current and new threats, and unmatched reliability. Clavister’s performance in the security sector was recognised in 2013 with the 2012 Product Quality Leadership Award from Frost & Sullivan. The company was founded in Sweden in 1997, with its solutions available globally through its network of channel partners.
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