Anoto Group carries out a directed rights issue of 20,000,000 new ordinary shares at a premium to the market price, through which the company will raise MUSD 2.1
Stockholm, March 16 2020 – The Board of Directors of Anoto Group AB (“Anoto” or the “Company”) has, on the basis of an authorisation from the Extraordinary General Meeting held on January 13, 2020, resolved on a directed rights issue of 20,000,000 ordinary shares at a subscription price of USD 0.11 per share (approximately SEK 1.03) (the “New Issue”). The subscription price corresponds to a premium of approximately 15 percent against the closing price on March 13, 2020. The reason for the deviation from the shareholders’ preferential rights is to carry out capital raising in a timely and cost-efficient manner and extend the shareholder base with institutional investors, which is deemed important considering the uncertainties and market volatilities due to the coronavirus.
The new ordinary shares in the New Issue has been subscribed by Soltworks Co Ltd (“Soltworks”), an ICT Company listed on KOSDAQ. Soltworks invested in Anoto in November 2019 and with this additional investment, Soltworks owns approximately 19 percent of the total number of shares in Anoto, making it the largest shareholder of the Company.
“We are glad to see an additional investment by a strategic investor such as Soltworks, who will become the largest shareholder in Anoto. I believe the investment is a strong endorsement from Soltworks in terms of Anoto’s future outlook,“ says Jörgen Durban, Chairman of the Board of Anoto.
Through the New Issue, Anoto will receive MUSD 2.1 before issue costs. The New Issue has a dilution effect of approximately 13 percent of the share capital after dilution.
The proceeds will be used for the building up of pen inventory in preparation for an expected increase in demand for KAIT pens and for the impending launch of new Livescribe pen lines called the Symphony and Andante.
For further information, please contact:
Johannes Haglund, Chief of Staff, Anoto Group AB
Anoto Group AB (publ), Reg.No. 556532-3929, Flaggan 1165, SE-116 74 Stockholm
This information is information that Anoto Group 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, on March 16, 2020 at 08:00 CET.
About Anoto Group
Anoto is a publicly held Swedish technology company known globally for innovation in the area of information-rich patterns and the optical recognition of those patterns. It is a leader in digital writing and drawing solutions, having historically used its proprietary technology to develop smartpens and the related software. These smartpens enrich the daily lives of millions of people around the world. Now Anoto is a cloud based software solution provider based on its patented dot pattern technology which provides a methodology for accumulating digital big data from analogue inputs. Anoto Cloud includes Anoto’s four solutions: KAIT – the world’s first AI solution for offline education; ACE – Anoto’s new and improved enterprise forms solutions; aDNA – Anoto’s secure interactive marketing solution; and Dr. Watson – Anoto’s biometric authentication and security solution. Anoto is traded on the Small Cap list of Nasdaq Stockholm under ANOT.