Camanio Care’s rights issue is covered by 100% subscription commitments, and additional information regarding the rights issue
The ongoing rights issue has received subscription commitments of 5,2 million SEK. In addition, there is an ongoing oversubscription rights issue of 2 million SEK. In connection to information regarding subscription commitments, updated information about the use of the issue amount, as well as the company’s financial situation, will be provided.
Of the received subscription commitments in the rights issue, 2,3 million SEK concerns subscriptions with preferential rights and 2,9 million SEK concerns subscriptions without preferential rights.
Of the received subscription commitments in the rights issue, 4,0 million SEK concerns cash payment and 1,2 million SEK concerns offset for refunding of shareholder’s contributions as well as part of the purchase price for the acquisition of Vital Integration AB. 393 970 SEK of the offset amount is subscription pro rata, which means that this part is guaranteed to be offset. Costs of the rights issue is estimated to 0,2 million SEK.
At full subscription of the rights issue through preferential rights, an additional maximum of cash issue amounts of 2 million SEK can be included.
The issue amount will be used for commercialization, research & development as well as work regarding partnerships. The evaluation is that the rights issue covers the company’s cash flow until February 2019. If the full rights issue is not received, the company needs to add funds earlier. This is one of the first steps in the company’s long-term financial strategy. Through an agreement with the European Select Growth Opportunities Fund, Camanio Care is able, if necessary, to solve convertible debentures of a total of 16 million SEK. In addition, through an agreement with Recall, the company can request funding of approximately 1,8 million SEK per quarter.
- We are proud of the support that our owners show us by fully subscribing and even beyond. We attract further investments at the same time as the possibility of oversubscription creates opportunities for both existing and new shareholders to continue to subscribe in the rights issue, says Catharina Borgenstierna, CEO Camanio Care AB.
Subscription commitments in the rights issue has been received from:
Brighter AB 1,275,381 SEK, pro rata
Recall Capital 2,367,549 SEK, of which 140,000 SEK is pro rata
Hemingsson och Partner 741,751 SEK by offset of loan, of which 393,970 SEK is pro rata
Simple Tech AB 500,000 SEK by offset for purchase price of Vital Integration AB
Truls Sjöstedt 124,685 SEK, pro rata
Henrik Norström 74,535 SEK, pro rata
Kinovo Group AB 70,040 SEK pro rata
The board of directors will consider these application forms as well as additional application forms when deciding on allocation, taking place on the 21stof November 2018. Those with existing transferable subscription rights can continue to subscribe according to the terms and conditions of the rights issue. An application form for subscription for units without unit subscription rights can be found on the company’s website: https://www.camanio.com/en/invest/
Camanio Care currently has the following financial loans to related parties of the companies:
Brighter AB: 12,0 million SEK, yearly interest 10%
Avacado: 1,0 million SEK, yearly interest 5%
The company’s financial loans totals to 15,1 million SEK. More information can be found in the memorandum, which is available on the company’s website.
Camanio Care publishes its quarterly report on the 15th of November.
For further information, please contact:
Catharina Borgenstierna, CEO
Telephone: +46733-93 00 07
E-mail: catharina.borgenstierna@camanio.com
About Camanio Care
Camanio Care is a care tech company that develops smart technologies for an excellent care at home with the individual in focus. Camanio Care offers digital service platforms for digital care, robotics and assistive devices, with products such as VITAL, BikeAround TM, Bestic® and Giraff TM. Through three focus areas; Activation, Mealtime and Digital care, Camanio Care wishes to support people's basic needs and increase accessibility and quality within health care. Headquartered in Stockholm, Camanio Care has a subsidiary in the US, and global reach via distributors in Asia, the Middle East, Hong Kong, Australia and in ten European countries.
Subscribe to our press releases and read more about us, Camanio Care at: https://www.camanio.com/en/.
This information is information that Camanio Care is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, on 14 November, 2018.