Sale of shares in PowerCell Sweden AB (publ)
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.
Two shareholders in PowerCell Sweden AB (publ) (the "Company" or "PowerCell"), Midroc New Technology AB and Finindus NV (the “Sellers”) have sold 3,053,754 shares in PowerCell, representing approximately 5.9 percent of the total outstanding shares in the Company (the “Placing”). The shares were placed to four European institutional investors. The price in the Placing was set at SEK 300.00 per share and the total transaction size amounted to approximately SEK 916 million.
Midroc New Technology AB and Finindus NV have been owners in PowerCell since 2009. Midroc New Technology AB is a venture capital company within Midroc Europe, an international company group headquartered in Stockholm. Finindus NV is a Belgian investment company funded by ArcelorMittal and the Flemish region. Following the Placing, the Sellers hold no shares in the Company.
Pareto Securities AB acted as Sole Bookrunner in the Placing.
Important information
This announcement is not and does not form a part of any offer for sale of securities. Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Canada, New Zealand, Hong Kong, Japan or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any offering in the United States or to conduct a public offering of securities in the United States.
Pareto Securities is an independent full-service investment bank with a leading position in the Nordic capital markets. Pareto Securities AB offers Swedish and foreign institutions, companies and private individuals investment services related to trading in stocks, shares in SPV’s and fixed income instruments, wide coverage both within equity- and credit research. Furthermore, Pareto Securities investment banking offers ECM, M&A and DCM services as well as arrangement and syndication of new investment projects, arrangement and syndication of sale and leaseback structures within real estate, infrastructure and shipping/offshore. Pareto Securities AB is part of the Pareto Securities group and is headquartered in Oslo, Norway, with more than 450 employees located in offices in Norway, Sweden, Denmark, Finland, United Kingdom, Germany, Switzerland, USA, Singapore and Australia.