STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Fingerprint Cards AB (FPC) (STO:FINGB) has completed a directed share issue of SEK 36.1 million
FPC discloses that the Company today has completed a directed share issue of approximately 4.2 million new Class B shares, corresponding to 9.9% of the number of Class B shares outstanding in the Company before the directed share issue. The new share issue provides the Company with more than SEK 36.1 million before deductions for issue expenses.
The share issue was directed at a few institutional investors in Sweden and internationally. The Hong Kong listed company World Wide Touch Technology (WWTT, also referred to as World Fair) subscribed for 2.8 million shares, representing 5.9% of the outstanding shares in the Company after the new issue. The subscription price was SEK 8.60 per share, corresponding to market closing price on Tuesday the 11th of December. As a result of the share issue, the number of shares in the Company will increase with approximately 4.2 Class B shares. The Company’s total number of outstanding shares increases from 43,609,586 shares to a total of 47,808,135 shares, and the share capital will increase by SEK 839,710 to SEK 9,561,627.
The proceeds will allow FPC to capitalize on new opportunities by increasing the number of employees, consultants and development projects.
The directed share issue was decided on by the Board of Directors of FPC, pursuant to authorization granted by the 2012 Annual General Meeting. The authorization grants the Board of Directors the right to decide on a share issue of maximum 9,000,000 shares without preferential right to subscription of shares by existing shareholders, in order to finance and enable an accelerated expansion and development of the Company, its markets and products.
“We are delighted at the interest shown by institutional investors, both in Sweden and internationally and welcome them on board as shareholders. We also welcome World Wide Touch Technology (World Fair) as a major investor in FPC. The transaction strengthens FPC’s financial position and enables the Company to proactively capitalize on the new opportunities arising from market recovery. The previously announced three-year supply agreement with CrucialTec in combination with a higher demand from the mobile market enhances FPCs position in the growing market for biometry in mobiles and tablets significantly”, says Johan Carlström, President and CEO of Fingerprint Cards AB.
Advisor: Carnegie Investment Bank served as financial advisor in connection with the directed share issue.
About Fingerprint Cards AB (publ)
Fingerprint Cards AB (FPC) markets, develops and produces biometric components and technologies that through the analysis and matching of an individual’s unique fingerprint verify the person’s identity. The technology consists of biometric sensors, processors, algorithms and modules that can be used separately or in combination with each other. The competitive advantages offered by the FPC’s technology include unique image quality, extreme robustness, low power consumption and complete biometric systems. With these advantages and the ability to achieve extremely low manufacturing costs, the technology can be implemented in volume products such as smart cards and mobile phones, where extremely rigorous demands are placed on such characteristics. The Company’s technology can also be used in IT and Internet security, access control, etc. Fingerprint Cards AB (FPC) is listed on Nasdaq OMX Stockholm (FING B) and has its head office in Gothenburg, Sweden.
Fingerprint Cards AB (publ) discloses this information pursuant to the Swedish Securities Market Act (2007:528) and the Swedish Financial Instruments Trading Act (1991:980). The information was issued for publication on December 12, 2012, at 08:00 a.m.
Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the constituent information in accordance with the rules and regulations prevailing in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Fingerprint Cards securities in any jurisdiction.
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