Anoto Group carries out a directed rights issue of 8,595,556 new ordinary shares, through which the company will raise approximately MSEK 7.7
Stockholm, December 16, 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 8,595,556 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 22.6 percent against the closing price of December 15, 2020.
The new ordinary shares in the New Issue has been subscribed by Vaba Co. Ltd, a company based in South Korea which actively is building a distribution channel for KAIT products in South Korea. 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 7.7 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 177,284,817 to 185,880,373.
The proceeds will primarily be used for transitioning the manufacturing of Anoto and KAIT products to a bigger contract manufacturing factory in Mexico.
For further information, please contact:
Joonhee Won, CEO, 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 16, 2020 at 10:45 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.