Northbaze Group strengthens its financial position to meet growth through a directed new issue of shares

Gothenburg, 21 December 2021 - Northbaze Group AB (Publ.) (“Northbaze Group”) announces today that a directed new issue of shares has been carried out to meet the company's growth strategy but also to deal with the global component shortage and shipping crisis caused by the pandemic.

The Board of Directors of Northbaze Group has, with the support of an authorization from the Annual General Meeting on May 26, 2021, decided to carry out a directed issue of 9,952,606 shares at a price of SEK 1,055 per share. The price corresponds to a rebate of 10 percent based on the share's average price over the last 20 trading days up to and including December 20, 2021 (excluding December 8 when no trades were made) on Nasdaq First North.

The new share issue will provide the company with SEK 10.5 million. The new assets will be used to manage increased growth and meet the market's requirements for product availability and its lead times.

The issuing of new shares was aimed at existing major shareholders as well as new investors.

“I am delighted by the fact that our largest shareholders as well as new investors have and continue to have high confidence in the company. With a stronger financial position, we can meet our challenges with force.”, says Henrik Andersson, CEO of Northbaze Group.

For further information, please contact:
Henrik Andersson, CEO
Mobile: +46 761 99 35 55
Email: henrik.andersson@northbazegroup.com

About Northbaze Group AB (Publ)
Northbaze Group was founded in 2006 and has over the years expanded its target to a business idea that is to develop innovative and functional products within the audio, IT and mobile accessories area to simplify and improve people's experience of mobile devices and bridge people's lives together with today's technology. By controlling manufacturing and working closely with the market, we can refine existing brands and develop complementary brands to adapt to an ever-changing landscape and market needs for new smart solutions to simplify people's lives in a changing and increasingly technical world.

The vision is to create simplicity in people's increasingly technical lives by offering smart and functional audio products and IT accessories.

The shares in Northbaze Group (publ) are traded on the Nasdaq First North Growth Market. Certified Adviser is Partner Fondkommission AB with e-mail address info@partnerfk.se and telephone number +46 31 761 22 30.