Loudspring carries out a directed share issue of EUR 1 million and increases ownership in Eagle Filters
Company release, inside information
19.12.2019, 08:30 (EET)
Based on the authorization granted by the Annual General Meeting of the Company on 26 April 2019, the Board of Directors of Loudspring Oyj (“Loudspring” or the “Company”) have on 18 December 2019 resolved on a directed share issue of EUR 1 million to a group of institutional and private investors including certain management team and board members (the “Share Issue”).
In the Share Issue, 3 333 334 new class A shares (the “Offer Shares”) were offered. The subscription price in the Share Issue was EUR 0.30 per Offer Share which equals the closing price at Nasdaq First North Finland on 18 December 2019. 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 12,1% of the outstanding shares and 3,0% 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 23 103 408.
Loudspring has exercised an option to increase its ownership in Eagle Filters increasing Loudspring’s ownership of Eagle Filters from 67,6% to 80%.
Loudspring CEO Jarkko Joki-Tokola: “I am pleased to announce the completion of this emission as well as our increased ownership in Eagle Filters. We have earlier communicated our plan, including a limited capital requirement to increase our ownership in selected core portfolio companies. Our option in Eagle was exercised on earlier agreed favourable terms with a limited cash expenditure. With new resources we will continue to execute next steps of our plan.”
Board of Directors
This information is such that Loudspring Oyj 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 below, at 08.30 EET on 19.12.2019.
Jarkko Joki-Tokola, CEO, Loudspring Oyj. Tel. +358 40 637 0501, email@example.com
Erik Penser Bank AB, Certified Adviser. Tel. +46 8 463 83 00, firstname.lastname@example.org
Loudspring in brief
Loudspring is an investment company focused on saving natural resources. We own and operate Nordic growth businesses that are fighting climate change and making a big environmental impact. We have a diversified business portfolio with technologies that save energy, water and materials in industry, real estate and in everyday life.
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.