Lund, Sweden –19 June, 2014 – Anoto Group AB (publ) (“Anoto” or the “Company”) today announces that it has completed a private placement of Senior Unsecured Convertible Bond, providing the Company with SEK 16.5 million before transaction related costs.
The private placement has allowed Anoto to place Convertible Bonds with international investors and qualified investors in Sweden through a book building procedure.
The proceeds from the Private Placement are intended to strengthen the working capital.
The reason for deviating from the shareholders’ preferential rights by conducting a directed new Convertible Bonds issue is to broaden the shareholder base and ensure further equity in a short timeframe.
Convertible Bonds can be converted into shares in the Company during the period February 2, 2015 to February 6, 2015. Convertible Bonds entitle the holder to a fixed interest rate of 8.0%. The conversion will take place into shares at a conversion price equivalent to a discount of 15% of the volume weighted average price of the stock during the 10 days prior to conversion.
The right to convert the Convertible Bonds into Shares is subject to certain resolutions at an extraordinary general meeting of the Company. If such resolution is not passed the Convertible Bonds will, upon conversion, be settled with cash.
The Bonds will be issued and redeemed at 100% of principal amount, and unless previously redeemed, converted or purchased and canceled, mature on 28 February 2015. Company will have an option to redeem 50% of the Convertible Bonds two weeks before conversion to shares to 102% of nominal value.
Redeye AB is acting as financial advisor and sole book runner and Setterwalls Advokatbyrå acts as legal advisor in connection with the private placement.
The information in this press release is published pursuant to the Swedish Securities Markets Act. The information was submitted for publication at 08.30 am on June 19, 2014.
For more information, please contact:
Stein Revelsby
CEO Anoto Group
+46 733 45 12 05
About Anoto Group
Anoto Group AB is a global leader in digital writing solutions, which enables fast and reliable transmission of handwriting into a digital format. Anoto operates worldwide through a global partner network that delivers user-friendly digital writing solutions for efficient capture, transmission, distribution and storage of data. Anoto is currently in use across multiple business segments, e.g. healthcare, pharmaceutical, bank and financial services, transportation and logistics, government and education. The Anoto Group has over 100 employees and is headquartered in Lund (Sweden), with offices in Basingstoke, Guildford and Wetherby (UK), Amsterdam (NL), Boston (US) and Tokyo (Japan). The Anoto share is traded on the Small Cap list of NASDAQ OMX Stockholm under the ticker ANOT.
For more information, please visit: www.anoto.com Follow Anoto on Twitter at: @Anoto
