Fingerprints Secures FDI Approval, Boosting B-Share Subscription
Fingerprints Gains Approval from FDI, Enhances Capital Structure
Fingerprint Cards AB (FING B), the world leader in biometric solutions, has reached a significant milestone by obtaining Foreign Direct Investment (FDI) approval. This approval enables the company to subscribe to an additional 138,662,665 B-shares, which were part of a partially guaranteed rights issue. This strategic move aims to raise approximately SEK 312.4 million from existing shareholders. The approval came from the Inspectorate of Strategic Products (ISP) adhering to the Screening of Foreign Direct Investment Act.
Details of the Subscription
With the positive decision from the ISP, Fingerprints has successfully processed the subscription under HCM's guarantee commitments. The influx of funds from this stock subscription is expected to bolster the company’s financial stability, facilitating the repayment of outstanding convertible bonds totaling around SEK 105 million along with accrued interest. This financial maneuver is pivotal as it reflects Fingerprints' commitment to maintaining healthy capital dynamics.
Impact on Share Capital and Voting Rights
Following the registration of the subscription with the Swedish Companies Registration Office, Fingerprints will experience a noteworthy shift in its capital structure. The company’s share capital will rise by about SEK 6,037,720.02, taking the total to approximately SEK 159,722,063.95. Additionally, the overall number of shares will increase by 138,662,665, resulting in a new total of 3,668,187,158 shares. This expansion also impacts the voting rights, raising them to a total of 3,739,062,158, demonstrating an incremental dilution effect of around 3.78 percent in terms of shares and about 3.71 percent regarding voting power.
Professional Guidance and Future Prospects
To navigate through the complexities of this rights issue, Fingerprints has enlisted the expertise of Pareto Securities as the Sole Manager and Bookrunner for the transaction, ensuring a streamlined process. Furthermore, Gernandt & Danielsson Advokatbyrå KB serves as the legal advisor, cementing the company’s commitment to compliance and strategic execution.
CEO Insights and Contact Information
Adam Philpott, CEO of Fingerprints, emphasizes the importance of this development for the company’s growth trajectory. He is available for inquiries through Investor Relations at +46(0)10-172 00 10 or via email at investrel@fingerprints.com. The press team can also be contacted at +46(0)10-172 00 20 for further information.
Frequently Asked Questions
What was the primary achievement for Fingerprints recently?
Fingerprint Cards AB secured FDI approval, allowing it to subscribe to additional B-shares in a rights issue.
How much does Fingerprints aim to raise through this rights issue?
The company aims to raise approximately SEK 312.4 million from the rights issue.
What changes occur in Fingerprints' share capital after this subscription?
With the new subscription, the share capital will increase by about SEK 6,037,720.02 to a total of approximately SEK 159,722,063.95.
Who are the advisors engaged by Fingerprints for this process?
Pareto Securities acts as the Sole Manager and Bookrunner, while Gernandt & Danielsson Advokatbyrå KB provides legal advice.
What steps should potential investors consider given the new developments?
Potential investors should stay informed and consult with independent financial advisors regarding the implications of the rights issue on their investments.
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