STOCKHOLM, September 26, 2018 /PRNewswire/ --
- Added capital for forceful expansion
The Preferential rights issue for Nasdaq First North-listed H&D Wireless , the Swedish provider of IoT and RTLS cloud platform solutions, closed with good acceptance rate. The Issue, where existing shareholders had precedence, signed to 80 percent and adds company liquid funds of in total 29.8 MSEK before issue costs.
"We have had a positive and encouraging response on our rights issue. We have now strengthened our financial resources to commercialize the great interest several Swedish and Nordic industrial companies demonstrated based on our market-leading solution. Therefore, is the gratifying to see that both Previous Shareholders and new Investors share our strong faith when we now gradually enters a phase where successful evaluations turn into a phase of regular installations," says Pär, the company's Founder and CEO, and continues, "Over the past year, we have achieved major advances in a growing number of leading actors in automotive manufacturing, construction and logistics. Our solutions for real-time monitoring of manufacturing and distribution flows helps customers to significantly streamline their activities."
The currently implemented preferential rights issue includes 7 011 705 B-Shares to a subscription price of 4.25 SEK per share, which means an increase in the share capital with a 350 585 Sek. Of the total number of subscription notifications 4 327 097 shares was with the support of subscription rights and 2 684 608 shares was without the support of subscription rights of which parties that entered into a guarantee relationship 969 401 Shares through this connection (14.82% of guaranteed part). Personas in managerial positions (PDMR) subscribed in total 301 133 shares of which the CEO has increased its holding by 235 295 shares.
The company has also implemented a directed issue in conjunction with the rights issue. For remuneration to the underwriters the company has emitted 672 000 B shares as payment.
Cashflow costs for the emission the company estimated approximately 2.5 MKr. The number of shares increases 25 260896 Shares and share capital to 1 263 045 Sek.
This information is such information as H&D Wireless AB is obliged to publish under the EU regulation on market abuse. The information was provided, through the contact person above, to publication 08:00 CET on 26 September 2018.
About H&D Wireless:
H&D Wireless is a Swedish supplier of technology and services within Internet of Things (IoT) and Realtime positioning (RTLS+GPS) with the Cloud platforms Griffin and GEPS. H&D Wireless was founded in 2009 and is among Sweden's fastest growing and most decorated IoT companies, with more than 1 Million wireless products shipped to date for IoT, M2M solutions across the globe. The company develops and supplies solutions for digitalization and optimization of Industry physical processes by Griffin Enterprise Positioning Service (GEPS ™) built in artificial intelligence (AI) targeting Industry 4.0 and Smart factory. H&D Wireless Share is since December 2017 listed on Nasdaq First North in Stockholm with FNCA Sweden AB Certified Adviser. http://www.hd-wireless.com
SOURCE H&D Wireless