ESGFIRE comments on Ekobot’s strategic update and share rights issue
Company Ekobot
Listings First North Sweden
Ticker EKOBOT
Market cap at time of publication 21,7 MSEK
Stock price at time of publication 0,454 SEK
Business Agtech farming robotics
Website https://www.ekobot.se/
ESGFIRE comment:
Today (12/3) Ekobot announced the outcome of the share rights issue. The share rights issue was subscribed for a total of 25.98 percent, of which approximately 9.16 percent was subscribed for with subscription rights and approximately 16.82 percent was subscribed for without subscription rights. Ekobot is thus provided with a total of approximately SEK 4.75 million before transaction costs.
This outcome is less than satisfactory and means the company will have to change their ongoing strategic plan. The company has today (12/3) also announced that they aim to “intensify the ongoing review of strategic alternatives to traditional financing, as announced by the company on December 1, 2023. Such alternatives may include a sale of all or parts of the business, evaluation of structural transactions, and/or strategic partnerships.”
ESGFIRE awaits the outcome of this intensified strategic oversight and hopes that management will be able to surprise the market.
The full press release regarding the strategic update can be found here:
https://mfn.se/a/ekobot/ekobot-provides-an-update-on-the-companys-financial-situation-and-future-opportunities
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