myFC Holding AB takes in 5 million USD for expansion

myFC Holding’s board has used the mandate from the 2015 annual general meeting to carry out a directed share issue of 1,869,566 shares to institutional investors at a price of 23 Swedish crowns per share. The issues add 5 million USD (43 MSEK). The price equals a discount of ca. 8 percent of Monday’s closing price (December 14) and equalling a premium price of 6 percent compared to the volume weighted average of the past 30 trading days.

The proceeds from the new direct issues strengthen the financial position of the company and capitalizes the company for expansion. 

”myFC has succeeded in developing the world’s smallest fuel cell with an energy density in fuel’s chemical make-up that substantially outperforms existing battery technology. The fuel, which is water and salt based, is manufactured at a relatively low cost, which offers large flexibility for future applications.”, says Björn Westerholm, CEO of myFC

The share
The new issue means that the count of share in myFC increases with 1,869,566 shares from 21,563,330 shares to a total of 23,432,896 shares, and the share capital increased with 109,332 SEK from 1,261,013 SEK to a total of 1,370,345 SEK. The new issue involves a share dilution of 8.7 percent.

For further questions, please contact:   
Björn Westerholm, CEO  
E-mail:  bjorn.westerholm@myfc.se 
Telephone: +46 (0) 706 56 20 07

About myFC
myFC is a Swedish innovation company that develops energy solutions using fuel cell technology. The company has so far launched two portable fuel cell chargers for small electronics like cell phones, cameras and tablets. Fuel cells use environmentally friendly technology that enables instant charging from a depleted battery state without ever needing a wall charge. myFC was founded in 2005, has its head office in Stockholm and was listed on the NASDAQ OMX First North in May 2014. The company’s Certified Advisor is Remium Nordic AB. To find out more, please visit  www.myfcpower.com

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