Brief: Azelio Completes Directed Share Issue Of SEK 270 Mln

Azelio AB

09/09/2020 08:16

Sept 9 (Reuters) - Azelio AB  AZELIO.ST :
    * SAID ON TUESDAY RESOLVED ON A DIRECTED ISSUE OF 12.3 MLN
NEW
SHARES, CORRESPONDING TO ABOUT 13% OF THE TOTAL NUMBER OF
OUTSTANDING SHARES IN THE COMPANY
    * SUBSCRIPTION PRICE IS SEK 22 PER SHARE
    * THROUGH THE SHARE ISSUE, THE COMPANY RAISES SEK 270.6 MLN
BEFORE
TRANSACTION COSTS
    * THE PURPOSE OF THE SHARE ISSUE IS TO FINANCE THE COMPANY'S
ONGOING OPERATIONS AND THE CONTINUED INDUSTRIALIZATION OF
AZELIO'S THERMAL ENERGY STORAGE (TES) AND STIRLING-BASED
ELECTRICITY PRODUCTION TECHNOLOGY
    * THE PROCEEDS FROM THE SHARE ISSUE, TOGETHER WITH EXISTING
CASH,
ARE EXPECTED TO BE SUFFICIENT TO FUND THE COMPANY'S BUSINESS
PLAN INTO THE THIRD QUARTER OF 2021

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nWkr6KhWHX
    
 Further company coverage:  AZELIO.ST  

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