Fingerprint Cards completes SEK40m directed share issue.
NORDIC BUSINESS REPORT-March 12, 2013-Fingerprint Cards completes SEK40m directed share issue(C)2013 M2 COMMUNICATIONS http://www.m2.com
Fingerprint Cards AB (FPC)(STO:FINGB), a provider of biometric components and technologies, announced today the completion of a directed share issue of approximately SEK40.3m.
This directed share issue is in accordance with the placing agreement with Carnegie Investment Bank AB in order to finance the accelerated growth and intensify participation in the on-going market expansion.
On 7 March 2013, FPC entered into a placing agreement with Carnegie, with the intention to place or sell a maximum of three million new issued class B shares during a limited period, hence additional newly issued class B shares may be placed or sold going forward.
Reportedly, Carnegie has, on behalf of FPC, on 11 March 2013, placed and sold 1.4m newly issued class B shares, at a volume weighted average price of approximately SEK28.81 per share. This is equal to 3.0% of the number of class B shares outstanding in the company before the new share issue.
According to FPC, the new share issue will strengthen its financial ability to take an active part in the on-going market expansion for fingerprint sensors. The proceeds are intended to be used for investments in and costs for recruitment of additional personnel, consultants, development projects and acquisitions of technology companies.
This new share issue provides FPC with approximately SEK40.3m before deductions for issue expenses.
Also, as result of the share issue, the number of shares in the company will increase by 1.4m class B shares and the company's total number of outstanding shares increases from 47,903,620 shares to a total of 49,303,620 shares. The share capital will increase by SEK280,000 to SEK 9,860,724.
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