Loudspring carries out a directed share issue of EUR 1.5 million
Loudspring Oyj
Company release, inside information
5 September 2022, 9:00 (EET)
Based on the authorization granted by the Annual General Meeting of the Company on 20 June 2022, the Board of Directors of Loudspring Oyj (“Loudspring” or the “Company”) have on 4 September 2022 resolved on a directed share issue of EUR 1.5 million to a group of private investors (the “Share Issue”).
In the Share Issue, 22 461 540 new class A shares (the “Offer Shares”) were offered. The subscription price in the Share Issue was set at EUR 0,065 per Offer Share and amounts to a total of EUR 1.5 million. The subscription price equals a discount of 7% to the 30-day volume weighted average price of the Company’s class A share on First North Growth Market Finland on 2 September 2022. The entire subscription price of the Offer Shares will be recorded in the Company's reserve for invested unrestricted equity. The reasons for the deviation from the shareholders’ preemptive rights was to raise capital in a time and cost-effective manner.
The Offer Shares represent approximately 22,4 % of the outstanding shares and 12,3% of the votes in the Company after the Share Issue. Following the Share Issue, the number of issued and outstanding class A shares of the Company will be 95 890 417. The total number of issued and outstanding shares of the Company will be 100 199 011.
Loudspring CEO Jarkko Joki-Tokola: “Last week we published our H1 report and reported on Eagle Filters’ growing sales pipeline. This emission provides working capital to support Eagle Filters' growth. Eagle Filters has made the last payments on its financial restructuring program in advance to the repayment schedule and we target using regural trade financing to support Eagle Filters' future business and growt.”
LOUDSPRING OYJ
Board of Directors
For more information:
Jarkko Joki-Tokola, CEO, Loudspring Oyj. Tel. +358 40 637 0501, jarkko@loudspring.earth
Erik Penser Bank AB, Certified Adviser. Tel. +46 8 463 83 00, certifiedadviser@penser.se
Loudspring Oyj discloses the information provided herein pursuant to the Market Abuse Regulation ((EU) No 596/2014, ”MAR”). The information was submitted for publication by the aforementioned person on 5 September 2022 at 9:00 (EET).
Loudspring in brief
Loudspring is an investment group focused on saving natural resources. Our strategy is to focus on the ownership and governance in Eagle Filters where we see a clear path to a long term profitable and scalable business, and divest more opportunistic higher risk investments, transforming into an industrial company. Our customers saved 125 000 tons CO2 emissions during 2020 using our technology, which equates to the CO2 carbon footprint of 12 000 Finns on average.
The company group is listed on First North Growth Market Finland under the ticker LOUD and on First North Growth Market Stockholm under the ticker LOUDS.
LinkedIn: https://www.linkedin.com/company/loudspring/
Twitter: @loudspring
FB: @loudspringco