ASA: Private placement of NOK 35 million successfully placed 15 Nov 2023
Summary
By structuring the equity raise as a private placement, the Company has been able to raise equity efficiently, with no discount to the closing price on the Oslo Stock Exchange on 15 November 2023, and at a lower cost and with significantly lower risk than in a rights issue.The Board has considered whether it is necessary to implement a subsequent offering in order to further justify the different treatment inherent in the Private Placement. The Board noted in this respect (i) that there is no discount to the last trading price (ii) that the dilution of existing shareholders as a result of the Private Placement is limited, and (iii) the costs and resources associated with a subsequent offering (e.g., preparation of a prospectus). Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. Persons distributing this communication must satisfy themselves that it is lawful to do so.Matters discussed in this announcement may constitute forward-looking statements, including in respect of the manner in which the Company intends to utilize the proceeds from the Private Placement. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements.