HCM Increases Stake in Fingerprints with New B-Shares
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HCM's Increased Subscription of B-Shares in Fingerprints
The recent developments in the financial structure of Fingerprint Cards AB (publ) signal significant movements in share allocations. The company has completed the allotment of B-shares, which has implications for both current investors and potential stakeholders. Fingerprint Cards AB is recognized as a leader in biometrics technology, and its advancements in the market continue to attract substantial interest.
Details on the Allotment and Share Structure
On an undisclosed date, a total of 2,557,212,981 B-shares were allotted during Fingerprint's partially guaranteed rights issue. This rights issue raised approximately SEK 312.4 million, extending preferential rights to existing shareholders. The backing of HCM for this initiative was crucial as it showcased confidence in Fingerprints' potential for growth and stability.
Guarantee Commitments and Allocation of Shares
Heights Capital Management, Inc. (HCM) undertook guarantee commitments that were contingent upon securing a favorable decision from the Swedish Inspectorate of Strategic Products. Due to regulatory requirements, HCM was initially allotted 323,747,886 B-shares, representing 9.99 percent of the company's voting rights. It's noteworthy that HCM subsequently divested these shares, which enabled it to subscribe for an additional 359,679,909 B-shares.
Financial Impact of the Subscription
This latest subscription by HCM illustrates its commitment to Fingerprints and enables the company to receive approximately SEK 32.4 million in financial proceeds. Post-registration, the new B-shares are expected to amplify Fingerprints' share capital significantly and augment the total number of shares and voting rights adequately. The implications of such an increase include a dilution effect, which is critical for existing shareholders to understand as they assess their investments.
Characteristics and Future Outlook
Following the registration with the relevant Swedish authorities, Fingerprints anticipates a rise in its share capital by approximately SEK 15,661,364.85, leading to a total of 3,529,524,493 shares. The outlook suggests that HCM's stake will stabilize at approximately 9.99 percent, affecting the total voting dynamics within Fingerprints, avoiding additional federal scrutiny.
Extended Subscription Periods
Furthermore, it has been determined that HCM's subscription period for this rights issue would be extended until the end of the month, which provides a window for investors to analyze and take informed decisions. The systematic approach to handling subscription rights ensures that existing and upcoming investors can engage with the company's evolving landscape.
Advisors and Support
Pareto Securities is playing a pivotal role as the Sole Manager and Bookrunner during this rights issue initiative, while Gernandt & Danielsson Advokatbyrå KB offers legal assistance, guaranteeing that all regulatory measures are adhered to effectively. This level of advisory support speaks volumes about the substantial backing that Fingerprints is receiving in the current adjustment of its equity structure.
Contact Information for Inquiries
For any inquiries regarding this process or further details about Fingerprints and its ongoing projects, stakeholders can reach out to:
Adam Philpott, CEO
Investor Relations:
Phone: +46(0)10-172 00 10
Email: investrel@fingerprints.com
Press:
Phone: +46(0)10-172 00 20
Email: press@fingerprints.com
Frequently Asked Questions
What is the significance of HCM's share subscription in Fingerprints?
HCM's share subscription reflects confidence in Fingerprints' market position, enhancing its capital and financial stability.
How will the new B-shares affect existing shareholders?
The issuance of new B-shares can lead to dilution of existing shareholders' votes and shares, which is essential for them to monitor closely.
What financial proceeds is Fingerprints expecting from the latest subscription?
Fingerprints is set to receive approximately SEK 32.4 million from HCM's subscription of additional B-shares.
What role does Pareto Securities play in this process?
Pareto Securities is the Sole Manager and Bookrunner, overseeing the rights issue and ensuring compliance with market standards.
Who can be contacted for further information regarding Fingerprints?
Stakeholders can contact Adam Philpott, CEO, or the Investor Relations team for more information.
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