TC TECH receives 10,6 MSEK from directed share issue
The board of directors of TC TECH Sweden AB (publ) has decided to conduct a directed share issue of maximum 1 540 000 shares in accordance with the authorization granted from the company’s annual general meeting on May 14, 2020. The share issue will increase the company’s share capital with maximum 123 200 SEK, while the company receives approx. 10,6 MSEK in cash.
The largest subscribers of shares in the directed share issue are three companies in the Swedish insurance company group Länsförsäkringar, known for their strong focus on commitment and longterm ownership. The remaining shares are subscribed by legal and physical persons who are
expected to become long-term partners of the company. The subscription price has been set to 6.90 SEK per share based on the closing share price on October 12, 2020, which also correlates to the average volym based share price of the five banking days leading up to October 12, 2020.
The share issue constitutes a deviation from the shareholders' preferential rights. The purpose is to secure additional working and development capital for the company from financially strong owners with a long-term engagement in the company.
“The fact that renown owners have chosen to invest in TC TECH is another important validation of our technology and TC TECH’s potential,” says Peter Mattisson, chairman of the board, in a comment.
For further information, contact:
Peter Mattisson, Chairman of the Board of TC TECH
Tel: 46 (0)708–55 34 34
E-mail: peter.mattisson@tctech.se
www.tctech.se
This information is information that TC TECH Sweden AB (publ) 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 set out above, at 15.00 C.E.T. on 15 October 2020.
About TC TECH
TC TECH is an innovative high-tech company that has developed its very own system for the production of advanced plastic details with nano patterns. Operations are based on an IPR-protected induction technique that makes it possible to heat and cool material – rapidly and with high precision. Initially, TC TECH has chosen to focus on systems for the production of so-called Light Guide Plates (LGP) for screens and displays. TC TECH has its statutory seat and head office in Stockholm (Spånga), Sweden, where also R&D operations are based.
The TC TECH share is listed on Nasdaq First North Growth Market.
Arctic Securities is the company's Certified Adviser, email: certifiedadviser@arctic.com, tel: +46 844 68 61 00.