ExeoTech secures a financing agreement for 45 MSEK
KALMAR, SVERIGE, 16 February 2016 – (NGM MTF, ETIN). ExeoTech Invest AB (publ).
ExeoTech Invest AB (”ExeoTech”) and GEM Global Yield Fund (”GEM”) have entered into an agreement whereby GEM undertakes to invest up to 45 MSEK in ExeoTech over the next 3 years.
The agreement gives ExeoTech the possibility to call for the subscription of new shares in ExeoTech by GEM through targeted rights issues. The actual size of each individual rights issue, which only occurs after ExeoTech has called for subscription by GEM, based on the average trading volume in the ExeoTech share over a period of 15 trading days prior to the notice.
The issue price per share will on each occasion be determined as 90 % of the average closing price over a period of 15 trading days after the demand for subscription has been made. The number of targeted rights issues is not limited.
In addition, ExeoTech will issue GEM 45 million warrants with three years’ duration and a strike price of 0.18 SEK.
In a comment ExeoTech CEO Jesper Birgemo says,” The agreement with GEM means that ExeoTech now has a guaranteed financing foundation that secures the current expansion. It gives us stable working environment and the possibility to focus on developing our business. It also strengthens our negotiating position against other financiers and financing alternatives”.
About GEM Global Yield Fund
Global Emerging Markets (”GEM”), www.gemny.com, was founded in 1991. GEM is a 3.4 billion USD investment group having completed 365 transactions in 65 countries. GEM is an alternative investment group that manages a diverse set of investment vehicles across the world. GEM’s funds include CITIC-GEM Fund, Kinderhook, GEM Global Yield Fund, GEM India and VC Bank/GEM Mena Fund*.
*GEM exited both its LP (Limited Partnership) and GP (General Partnership) stakes in Q1 2010.
About ExeoTech Invest
ExeoTech Invest AB (publ), (”ExeoTech”) 556536-0954, business idea is to create competitive return by acquiring, developing and divesting operating companies. ExeoTech shall primarily invest in wholly- or partly owned operating companies, both listed or private, within manufacturing, trade and logistics but with a bias towards food and beverage.
ExeoTech is listed on NGM-MTF (ETIN)
For further information contact:
Fredrik Nygren, Chairman of the board, fredrik.nygren@exeotech.se
Jesper Birgemo, CEO, jesper.birgemo@exeotech.se
ExeoTech Invest AB (publ)
Tel 070-895 39 34