Loudspring carries out a directed share issue of EUR 650 000
Loudspring Oyj
Company release, inside information
14.04.2020, 08:30 (EEST)
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 13 April 2020 resolved on a directed share issue of EUR 650 000 to a group of private investors including certain management team and board members (the “Share Issue”).
In the Share Issue, 2 241 380 new class A shares (the “Offer Shares”) were offered. The subscription price in the Share Issue was set at EUR 0,29 per Offer Share and amounts to a total of EUR 650 000. The subscription price equals to the volume weighted average price of the Company’s class A share on First North Growth Market Finland between March 1st and April 13th. 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 7,5% of the outstanding shares and 2,0 % 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 25 439 181.
Loudspring CEO Jarkko Joki-Tokola: “I am pleased to announce completion of this emission. It is part of our financing plan, which includes equity and debt funding. We believe that the market for Loudspring’s climate technologies will grow after the pandemic.”
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