Nexam Chemical’s directed new share issue oversubscribed, thereby raising proceeds of SEK 35 million
The board of directors of Nexam Chemical Holding AB (”Nexam Chemical” or the ”Company”) has, in accordance with the Company’s press release earlier today, with support of the authorization granted by the annual general meeting May 13, 2020, resolved on and carried out a new share issue of 3,100,000 shares (the ”Directed New Share Issue”). The subscription price of the shares in the Directed New Share issue amounts to SEK 11.40 per share. Through the Directed New Share Issue Nexam Chemical will receive proceeds amounting to SEK 35.3 million before deduction of transaction costs. Investors in the Directed New Share Issue are Swedish and international institutional investors, including Mediuminvest, Alcur Fonder, Länsförsäkringar and Norron Asset Management.
The subscription price in the Directed New Share Issue amounts to SEK 11.40 per share and has been determined through a so-called bookbuilding procedure carried out by the Company’s financial advisor Erik Penser Bank AB (”Erik Penser Bank”), why it is the board of director’s assessment that the subscription price is on accordance with market conditions. The subscription price in the Directed New Share Issue is equal to the closing price on Nasdaq First North Premier Growth Market on February 1, 2021.
The main rationale for carrying out the Directed New Share Issue is to strengthen the Company’s financial position and to enable a continued high growth rate, which includes investments in production capacity, product development, strengthening of working capital and the Company’s sales organization.
The reasons for the deviation from the shareholders’ preferential rights are mainly to diversify the shareholder base in the Company among Swedish and international institutional investors and at the same time take advantage of the opportunity to raise capital in a time- and cost-efficient manner.
The Directed New Share Issue entails a dilution of approximately 3.9 percent of the number of shares and votes in the Company. Through the Directed New Share Issue, the number of outstanding shares and votes will increase by 3,100,000, from 75,803,367 to 78,903,367. The share capital will increase by SEK 59,615.384617 from SEK 1,457,757.057729 to SEK 1,517,372.442346.
Comments from Nexam Chemical´s CEOIt is very gratifying that there is a strong interest in Nexam Chemical. We are experiencing strong growth and the capital from the directed share issue strengthens the prerequisites for maintaining a high growth rate for a long time to come. Our goal is to establish Nexam Chemical as a leading supplier of sustainable solutions for the plastics industry, says Johan Arvidsson, CEO.
Erik Penser Bank is Sole Manager and Bookrunner and Setterwalls Advokatbyrå AB is legal advisor to the Company in connection with the Directed New Share Issue.
For more information, please contact:
Johan Arvidsson, CEO, +46-708 97 44 39, email@example.com
This information is information that Nexam Chemical Holding AB 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 21:15 CET on February 1, 2021.