Risk Intelligence successfully completes the directed share issue of approx. DKK 2 million through issuance of 714,290 new shares forming part of a DKK 8 million funding package.
The Board of Directors of Risk Intelligence A/S (“Risk Intelligence” or the “Company”) has, with support from the authorisation granted by the general meeting held on 22 May 2018, and as indicated in the press release published on 8 July 2020, resolved to issue 714,290 new shares at the price of DKK 2.80 per share. The price was established through a so called “accelerated book-building” procedure led by Sedermera Fondkommission. The new share issue is directed to qualified investors. In addition, Risk Intelligence is finalising a long-term loan from Vækstfonden of DKK 4 million and has secured a credit line of DKK 2 million with Danske Bank supported by Vækstfonden. It is the Board’s opinion that the long-term funding, together with the forecasted positive EBIDTA for 2020 and positive cash flow for 2021 and the reported uptake in business, will put Risk Intelligence in positive momentum.
CEO Hans Tino Hansen says:
“With the DKK 2 million capital increase Risk Intelligence now secures a funding package of a total of an 8M DKK providing long-term funding and capital reserves that will enable us to focus on further developing our business following the challenging Q2 with negative impact from COVID-19 and the recent uptake in business and cautious optimism from June and early July. This will be important in securing our targets for H2 and reach a positive EBITDA for the full year and to increase our growth and result through 2021. The funding package has been designed to provide Risk Intelligence to have sufficient capital to support growth and create further value for all shareholders and at the same time minimizes dilution of shares”.
The directed share issue
With support from the authorisation granted by the general meeting held on 22 May 2018, the Board of Directors has carried out a directed share issue of 714,290 new shares, through a so called “accelerated book-building” procedure. The reason for the deviation from the shareholders’ preferential rights is mainly to strengthen the Company’s financial position in a short and cost-effective timeframe. The proceeds from the directed share issue are intended to be used to provide liquidity and long-term funding covering 2020 and 2021. The directed share issue will result in gross proceeds to the Company of DKK 2 million (before transaction related costs).
The new shares will be admitted to trading on Spotlight Stock Market following their issuance and registration. The Company today has a share capital of DKK 838,709 divided between a total number of 8,387,090 shares. The directed issue will entail a dilution for the current shareholders of approximately 7.85 percent calculated by dividing the number of new shares and votes with the total number of shares and votes in the Company after registration of the new shares. Below is a subscription list of investors participating in the directed share issue:
|Måns Flodberg||700,008.40 DKK|
|Johan Biehl||500,001.60 DKK|
|John Bäck||500,001.60 DKK|
|Litcap AB||300,000.40 DKK|
Together with the directed issue of shares Risk Intelligence is in the process of finalising a long-term five-year loan from Vækstfonden of DKK 4 million with an interest rate of 5 percent. The loan will be finalised during July. The existing long-term loan from 2019 amounting to DKK 7 million will be revised and extended to the same five-year loan profile as the new Vækstfonden loan. The long-term funding will be repaid by 1 July 2025.
In addition, Risk Intelligence has secured a credit line of DKK 2 million with Danske Bank supported by Vækstfonden in April.
Existing warrants programs with execution period in July 2020 are not expected to be executed with no further cash impact or dilution.
Financial Adviser and Issuing Agent
Sedermera Fondkommission is acting as financial adviser and Nordic Issuing acts as issuing agent in connection with the directed share issue.
This information is information that Risk Intelligence A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person(s) set out above, on 9 July 2020.
For further information about Risk Intelligence, please contact:
Hans Tino Hansen, CEO
Jens Krøis, CFO
Telephone: +45 7026 6230
Web page and social media:
Risk Intelligence A/S was founded in 2001 by Hans Tino Hansen. The company has evolved to become a prominent company in security risk management by delivering threat and risk assessments worldwide. Risk Intelligence operates and assists customers and partners from headquarters located north of Copenhagen, the office in Singapore as well as through representatives in Europe, Asia and North America. The business has been designed with international scalability in mind and the company is globally regarded as an expert in its field. Risk Intelligence provides the ‘Risk Intelligence System (MaRisk + PortRisk + LandRisk)’ which is a digital platform that allows clients to monitor global security risks and enables them to plan and implement missions in risk areas. Risk Intelligence is listed on the Spotlight Stock market [RISK].