Anoto Group agrees to a directed issue of 9 million shares to an institutional investor and an additional 21 million shares subject to approval by an EGM
Stockholm, December 29, 2020 – The Board of Directors of Anoto Group AB (“Anoto” or the “Company”) has, on the basis of an authorisation from the Annual General Meeting held on May 18, 2020, resolved on a directed rights issue of 9,000,000 ordinary shares at a subscription price of SEK 0.90 per share (the “New Issue”). The subscription price has been determined after discussions at an arm’s length between investors and Anoto and corresponds to a premium of 11.0 percent against the closing price of December 23, 2020.
The new ordinary shares in the New Issue has been subscribed by Rothesay Limited (“Rothesay”), an international investor active in the Swedish market. The reason for the deviation from the shareholders’ preferential rights is to carry out capital raising in a timely and cost-efficient manner.
Through the New Issue, Anoto will receive approximately SEK 8.1 million before issue costs. The New Issue has a dilution effect of approximately 4.8 percent of the share capital after dilution by increasing the number of outstanding shares from 185,658,150 to 194,658,150.
The proceeds will be primarily used for the transition to a bigger contract manufacturing factory and purchasing of materials for the production in Mexico.
The Board of Directors will also call for an EGM to approve an additional directed issue of 21,000,000 shares to Rothesay. Once the issue is completed, Rothesay is expected to become the second largest institutional shareholder with approximately 14% of the company.
“Finally, we have a strong institutional investor base who are long term investors in the Company. With the investment of 30MM shares by Rothesay, approximately 50% of the outstanding shares will be held by long term strategic investors,” says Joonhee Won, CEO of Anoto.
“Anoto is a strategic investment for us. We believe Anoto is poised for growth and we are happy to provide growth capital,” says Joachim Cato, investment representative for Rothesay.
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 December 29, 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. Anoto currently has three main business lines: Livescribe retail, Enterprise Forms and OEM. Anoto also owns Knowledge AI, a leading AI based education solution company, as its majority-controlled subsidiary. Anoto is traded on the Small Cap list of Nasdaq Stockholm under ANOT.