Loudspring carries out a directed share issue of EUR 400 thousand
Loudspring Oyj
Company release, inside information
3.9.2020, 08:30 (EEST)
Based on the authorization granted by the Annual General Meeting of the Company on 3 August 2020, the Board of Directors of Loudspring Oyj (“Loudspring” or the “Company”) have on 2 September 2020 resolved on a directed share issue of EUR 400 thousand to a group of private investors (the “Share Issue”).
In the Share Issue, 1 111 111 new class A shares (the “Offer Shares”) were offered. The subscription price in the Share Issue was set at EUR 0,36 per Offer Share and amounts to a total of EUR 400 thousand. The subscription price equals a discount of 16% to the 40-day volume weighted average price of the Company’s class A share on First North Growth Market Finland on 31 August 2020. 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 3,3 % of the outstanding shares and 0,7 % 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 29 558 908. The total number of issued and outstanding shares of the Company will be 33 612 939.
Loudspring CEO Jarkko Joki-Tokola: “This limited emission is a continuation of our funding plan communicated previously, including a limited capital requirement for our core portfolio. We aim to execute fund raises in staged manner to protect shareholder value.”
Loudspring Oyj
Board of Directors
Contact 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 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.
LinkedIn: https://www.linkedin.com/company/loudspring/
Twitter: @loudspring
FB: @loudspringco