Brief: Gapwaves Makes Strategic Investment Into Radar Sensor Market By Acquiring Minority Stake In Sensrad

Gapwaves AB

27/04/2023 07:20

April 27 (Reuters) - Gapwaves AB  GAPWb.ST :
    * GAPWAVES MAKES A STRATEGIC INVESTMENT INTO THE RADAR
SENSOR
MARKET BY ACQUIRING A MINORITY STAKE IN SENSRAD
    * WILL BECOME OWNER OF 30 PER CENT OF SHARE CAPITAL OF
SENSRAD AB
("SENSRAD"), PREVIOUSLY A FULLY OWNED SUBSIDIARY OF QAMCOM GROUP
AB
    * INVESTMENT IS CARRIED OUT BY SUBSCRIPTION OF NEWLY ISSUED
SHARES
IN SENSRAD AND TOTAL INVESTMENT AMOUNTS TO SEK 40 MILLION
    * GAPWAVES HAS RIGHT TO ACQUIRE ON CERTAIN TERMS AN
ADDITIONAL 30
PER CENT SHARE OF SENSRAD UP UNTIL JUNE 30, 2024.
    * SENSRAD IS A RECENT SPIN-OUT VENTURE FROM QAMCOM'S RADAR
DIVISION

Source text for Eikon:  ID:nWkrbQ2P4k 
Further company coverage:  GAPWb.ST 

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