Institutional Investor Acquires 25 Million Shares in Terranet
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Institutional Investor Acquires Significant Stake in Terranet
An investment transaction has seen an institutional investor purchase 25,000,000 shares of Terranet, which represents approximately 2.5% of all outstanding shares. The shares were acquired at a price of SEK 0.3465, sourced from Maida Vale Capital AB.
Statements from Maida Vale Capital
Anders Blom, a board member of Terranet and representative of Maida Vale Capital, expressed optimism about this development: "We are witnessing growing interest from numerous institutional investors as Terranet navigates a pivotal and dynamic phase. As the largest shareholder in Terranet, we viewed this move as a chance to bolster our liquidity and sustain our long-term commitment to the company without influencing market trading negatively. We are excited about the continued evolution of Terranet."
Impact on Shareholding
As a result of this transaction, Maida Vale Capital's ownership increases to approximately 156 million shares in Terranet, emphasizing the sustained confidence they have in the company's strategy and direction.
About Terranet AB
Terranet AB aims to enhance urban road safety through advanced technology. They are focused on developing innovative solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV). One of their standout products, the BlincVision system, utilizes laser scanning technology to identify road objects up to ten times faster than current leading systems in the market.
Company Headquarters and Expansion
Terranet is headquartered in Lund, Sweden, with additional offices in Gothenburg and Stuttgart, showcasing its commitment to growth and development within the European technology landscape. Since 2017, Terranet has been publicly traded on the Nasdaq First North Premier Growth Market under the ticker Stockholm:TERRNT B, allowing for greater visibility and investor engagement.
Contact Information
For further inquiries, please reach out to:
Magnus Andersson, CEO
E-mail: magnus.andersson@terranet.se
Frequently Asked Questions
What prompted the institutional investor to buy shares in Terranet?
The purchase reflects the investor's confidence in Terranet's growth strategy during a transformative period for the company.
How many shares did the investor acquire?
The institutional investor acquired 25,000,000 shares, or roughly 2.5% of Terranet's total outstanding shares.
What is Terranet's focus in the technology sector?
Terranet develops advanced solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV), emphasizing safety and innovation.
What innovations does Terranet offer?
The company’s BlincVision anti-collision system uniquely scans and detects objects much faster than existing technologies.
Where is Terranet headquartered?
Terranet is headquartered in Lund, Sweden, with additional offices located in Gothenburg and Stuttgart.
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