Freedesk AB announces start of subscription period of the new share issue
Today, on March 16th 2017, the subscription period in Freedesk AB´s (“Freedesk”) new share issue in connection with the company’s planned listing on AktieTorget, starts. The subscription period ends on April 6th 2017. If fully subscribed, the new share issue will provide Freedesk with approximately SEK 12.5 million before issuance costs. At the commencement of the new share issue, the company has received subscription commitments totaling approximately SEK 6 million, representing approximately 48 percent of the total volume of the new share issue. Memorandum, teaser and subscription form are available on the websites of the company (www.thefreedesk.com), AktieTorget (www.aktietorget.se) and Sedermera Fondkommission (www.sedermera.se).
Freedesk – Enables a more active everyday life
Freedesk develops a wide range of smart and flexible products to promote a more active and productive day, every day. The aim is to enhance the user’s well-being and productivity, by carrying out the everyday activities in a more active way. Initially, the focus is on the company’s portable product Freedesk Desk Riser, which enables the user to stand up and work wherever one so desires. The company’s vision is to be the global leader with smart and flexible solutions that contribute to a healthy and productive lifestyle. In addition to the Freedesk Desk Riser, the company has also launched its Freedesk Personal Space and Freedesk LapTop Stand products.
Issuance of new shares for rapid expansion
According to the Board of Directors, at the moment Freedesk is at the forefront in the market with an innovative, exceptionally useful, and well-regarded product for standing work – the Freedesk Desk Riser. The ambition is to expand strongly, and therefore the company is in need of additional capital. Over time, Freedesk will have a gross margin that will cover the company’s operating costs, but with the intense activity that the company is already involved with, the Board of Directors has determined that the time is right to accelerate efforts and back this up with the requisite resources. Freedesk is implementing a new share issue ahead of its planned listing on AktieTorget. The volume of the new share issue amounts to approx. SEK 12.5 million (before deductions for issuance costs, which are estimated to amount to approx. SEK 1.1 million). In the event that the forthcoming new share issue is fully subscribed, it is the assessment of the Board of Directors that the proceeds from the issuance of new shares will finance the business activities until the company is able to generate a profit.
Comments from the CEO, Stefan Westergård
“Our ambition and passion is to provide the market with flexible, smarter and more accessible solutions to enable each day to be an active day – and all the benefits that come with it. The company's first launched product Freedesk Desk Riser is a portable table top that is designed to give the user a possibility to, in a smart, stylish and affordable way, stand up and work and that has become well received on the market in a short time. It is now time to take Freedesk to the next level and a listing on AktieTorget is the right way for the company to go. The proceeds are intended to enable the company to follow up important customer leads and finance investments in sales and marketing. Our ambition is to achieve a turnover of at least SEK 50 million in 2018 and break-even in 2019.”
Subscription commitments
The company has received subscription commitments totaling approximately SEK 6 million, representing approximately 48 percent of the issue volume.
The Offer in brief
| Subscription period: | 16 March – 6 April 2017. |
| Subscription price/Issue price: | SEK 3.50 per share. |
| Issuing volume and minimum amount for the implementation of the new share issue: | The offer encompasses a maximum of 3,580,000 shares, corresponding to SEK 12,530,000. The lowest amount for the implementation of the issuance of new shares is SEK 7,980,000. |
| Block for Subscription: | The minimum block of shares subscription is for 1,400 shares (corresponding to SEK 4,900). |
| Number of shares before the New Share Issue: | 7,975,000 shares. |
| Valuation (pre-money): | Approx. SEK 27.9 million. |
| Subscription commitments: | The company has received subscription commitments totaling approximately SEK 6 million, representing approx. 48 percent of the issue volume. |
| Listing on AktieTorget: | The plans are for the shares of Freedesk to be listed on AktieTorget. April 27, 2017 is the projected date for the first day of trading. |
| ISIN code: | SE0009496383. |
The invitation to subscribe for shares is not addressed to persons whose participation would require a further prospectus, registration measures, or additional measures other than those required by Swedish law. The invitation to subscribe for shares may not be distributed in the United States, Australia, Japan, Canada, New Zealand, South Africa, Hong Kong, Switzerland, Singapore or other countries where the distribution or this invitation requires further measures under the preceding sentence or is in contravention of the rules in such country.
Conditions for listing
Freedesk has been approved for listing at AktieTorget, on the condition that the lowest set limit in the new share issue is reached and that AktieTorgets ownership diversification requirements are achieved.
Investor Meetings
In connection with the new share issue, Freedesk will participate in informational meetings in order to provide information about the company’s business operations as well as to discuss its future plans. There is no charge to attend out informational meetings, and refreshments will be served. For further information about the investor meetings, please visit Sedermera Fondkommission’s website (www.sedermera.se) or feel free to contact Sedermera Fondkommission via telephone at +46 (0)40-615 14 10 or via e-mail: event@sedermera.se.
| Date and Time | Organizer | Location (city and site) | Notification of attendance |
| March 16, 2017 at 18:00–21:30 | Sedermera Fondkommission | Flädie Mejeriväg 19, 237 91 Bjärred. |
event@sedermera.se |
| March 20, 2017 at 11:30–13:00 | Sedermera Fondkommission | Scandic Klara, Slöjdgatan 7, Stockholm. |
event@sedermera.se |
| March 20, 2017 at 18:00–18:30 | Aktiespararna, Women’s Night | Hotel Birger Jarl, Jarlsgatan 61 A, Stockholm. |
event@aktiespararna.se |
| March 21, 2017 at 18:30–21:00 | Aktiespararna | Jenny Nyströmsskolan, Smålandsgatan 25, Kalmar. | www.aktiespararna.se |
| March 22, 2017 at 17:30–19:00 | Sedermera Fondkommission, “After Work” | Norra Vallgatan 64, Malmö. | event@sedermera.se |
| March 27, 2017.at 11:30–13:00 | Sedermera Fondkommission | Elit Park Avenue Hotel, Kungsportsavenyen 36, Gothenburg. | event@sedermera.se |
| March 27, 2017.at 20:00–20:30 | Aktiespararna | Hotell Anglais, Humlegårdsgatan 23 (Stureplan), Stockholm. | www.aktiespararna.se |
| March 28, 2017 at 18:00–21:00 | Aktiespararna | Elite Park Avenue, Kungsportsavenyn 36, Gothenburg. | www.aktiespararna.se/evenemang |
The Memorandum, teaser and subscription form
Memorandum, teaser and subscription form are available on the websites of the company (www.thefreedesk.com), AktieTorget (www.aktietorget.se) and Sedermera Fondkommission (www.sedermera.se).
Financial Advisor
Sedermera Fondkommission is Freedesk’s financial advisor in connection with the new share issue and the planned listing on AktieTorget.
For more information concerning the new share issue and the planned listing on AktieTorget, please contact:
Sedermera Fondkommission
Telephone: +46 (0)40-615 14 10
E-mail: info@sedermera.se
For further information about Freedesk, please contact:
Stefan Westergård, CEO
Telephone: +46 (0)40-44 30 15
E-mail: stefan.westergard@thefreedesk.com
This information is information that Freedesk AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 16 March 2017.
This is an English version of an original Swedish press release communicated by Freedesk AB. In case of interpretation issues or possible differences between the different versions, the Swedish version shall apply.
Freedesk AB (559019-4261) has the ambition to provide the market with flexible, smart and accessible solutions to enable each day to be an active day – along with all the benefits that come along with this. The products are being developed in order to enhance the user’s well-being and productivity. The first product the company has launched – Freedesk Desk Riser – is an easy and versatile patent pending solution that provides the user the opportunity to stand up and work. Freedesk Desk Riser is the first of many products in the company’s Innovation Pipeline. Freedesk’s development nucleus is located in the towns of Lund and Malmö and their environs, and development work is conducted in joint collaboration with experts from all over Sweden.