Hoylu AB (publ) (“Hoylu” or the “Company”) has, by virtue of the authorisation the board received at the extraordinary general meeting on 16 may 2017, decided on a directed cash issue of 1,714,286 shares, at a subscription price of sek 3.50 per share (the”rights Issue”) and issuance of convertible debentures of 5,000,000 b.c.
Through the rights Issue are added to Hoylu 6 Million before issue costs. The subscription price in the rights Issue have been determined to a fair value for the share with a deduction of customary discounts, in order to ensure completing the new implementation. The subscribers in the rights Issue consisted of Gerhard Dal, Sonny Johansson, Jens Miöen, Modelio, Leevest Cap., Oscar Molse, Peter Ferm, ( Group, Satoshi Nakajima and Pollex AS. The rights issue aimed to provide the Company with working capital for the continued expansion of the business. The reason for the deviation from shareholders ‘ preferential rights was that the introduction of new shareholders and at the same time implement the funding on a time – and cost-effective manner.
The new issue means that the number of shares in Hoylu increase from 8 600 000 (after registration of the Company’s recent rights issue) to 10 314 286 shares. The company’s share capital will increase from 708 976 sek (after registration of the Company’s recent rights issue) to 850 232 sek. The new share issue entails a dilution of approximately 17% in relation to the total number of outstanding shares and votes in the Hoylu.
The convertible bonds expire in 18 months with an annual interest rate of 12 %. The conversion price is set to sek 5.50 per new share which corresponds to approximately 143% of the Hoylus closing price on Nasdaq First North on June 9, 2017. The loan can lead to a dilution of 8% of the share capital upon conversion of the 5.50. The convertible bonds subscribed by Gerhard Dal, Sonny Johansson, Jens Miöen, Modelio, Leevest Cap., Oscar Molse, Peter Ferm and (Group.
The issue has been carried out with deviation from the shareholders ‘ preferential rights on the market conditions. The purpose of the to deviate from the shareholders ‘ preferential rights is mainly that the Company makes the assessment that a directed issue of convertibles on this occasion, judged to be it for the Company, the most beneficial way to obtain financing. The convertible bond will not be traded.
Malmö, 12 June 2017
The board of directors of Hoylu AB (publ)
For more information, please contact:
Stein Revelsby, CEO of Hoylu, telephone +1 213 440 2499, e-mail email@example.com
Karl Wiersholm, CFO at Hoylu, telephone +1 425 829 2316, e-mail firstname.lastname@example.org
Marketplace: Nasdaq First North Stockholm
Certified Adviser: Remium Nordic AB +46(0)84543200
Legal Adviser: MAQS law Firm
Hoylu delivers solutions for presentations, ideation and collaboration, with a focus on the user experience. Hoylu mainly focuses on enterprise solutions for creative collaboration, combined with the displays and technologies for intuitive input. This also includes the Internet of Things and technologies in order to simplify the cooperation between different geographical locations, in order to simplify work processes and achieve higher efficiency and creativity. For more information, please visit: www.hoylu.com or www.introduce.se/foretag/hoylu
This information is such information that Hoylu AB (publ) is obliged to publish under the EU marknadsmissbruksförordning. The information was submitted, by the above contact person in the government for publication on 12 June 2017, there is a 09:00 CEST.