Bayn Europe AB has signed an agreement for a financing of up to approximately 10,3 MSEK. The capital injection will be used primarily for continued expansion of the sales organization and to ensure the capacity to handle higher to handle higher volumes in the future.
The financing consists of a directed share issue of approximately SEK 4.3 million and partly by an opportunity to raise loans of up to SEK 6 million during the whole of 2020.
The Board of Directors of Bayn Europe AB (Publ) has, with the support of authorization from annualGeneral Meetingn on 29 May 2019, decided a directed share issue of approximately 2 998 449 new shares in the Company. The subscription price amounted to 1,45 SEK per share.
Nhe issue has been subscribed by an investment consortium led by Gerhard Dal and composed of private investors. Through the new share issue, the Company will receive approximately 4,3 million before transaction costs of approximately of approximately 25 TSEK. The subscription price has beenset to 1,45 per share, based on theaverage volume-weighted closing price on 10 last trading days and with a market discount. Approximately 300 TSEK of the issue amount will be raised through a set-off issue.
The purpose of the issue and the reason for the deviation from the shareholders' preferential rights is to secure financingfor the ongoing operations in an advantageous way. The Board of Directors' assessment is that the directed share issuets on favorable terms, in a short time and at a lower cost than if the offer had targetedts to all shareholders. All in all, the Board of Directors assessment that the issue is in the interest of all shareholders. shareholders.
The new share issue entails a share dilution of approximately 7,8 percent in relation to the the total total number of shares after the issue. The issue means that the number of shares in Bayn Europe will increase by approximately 2 998 449 shares to a total of 38 479 343 shares and the share capital increases by approximately 659 658 SEK to a total of approximately 8 465 455 SEK 8,465,455. Minor corrections of the above may be made in connection with the registration of the issue.
As part of the settlement with the subscribers, the company has also been given an option to raise a loan from the subscribers of up to SEK 6 million. The loan commitment runs until the 31 Dec 2020. The loan has a 4% arrangement fee. A 12 % annual interest will be added if the loan is taken out.
In connection with the transaction, the Board decided that the company will to issue free warrants to the shareholdersthe. The purpose is to give all shareholders the opportunity to subscribe for shares on terms as in the directed share issue. Separate press release and other terms and conditions will be issued about this.The issue is carried out by Eminova Fondkommission AB.
