Brief: Gapwaves Says Hella Invests In Co

Gapwaves AB

16/06/2021 09:13

June 16 (Reuters) - GAPWAVES AB  GAPWb.ST :
    * HELLA GMBH & CO. KGAA, A LEADING GERMAN AUTOMOTIVE
SUPPLIER,
INVESTS IN SWEDISH TECH COMPANY GAPWAVES AB
    * HAS ENTERED INTO A LICENSING AND DEVELOPMENT AGREEMENT
WITH TIME
LIMITED EXCLUSIVITY FOR CORNER AND SIDE RADAR WITH HELLA, ONE OF
LARGEST MANUFACTURERS OF RADAR IN AUTOMOTIVE INDUSTRY.
    * AS PART OF AGREEMENT, HELLA WILL ALSO INVEST 182,3MSEK IN
GAPWAVES IN A DIRECTED NEW ISSUE OF 3,100,000 B SHARES,
INVESTMENT COVERS APPROXIMATELY 10% OF GAPWAVES' CAPITAL.
    * GAPWAVES WILL IN ADITION PROVIDE DEVELOPMENT SERVICES TO
HELLA.
    * GAPWAVES WILL COOPERATE WITH HELLA IN DEVELOPMENT OF RADAR
ANTENNAS WITH AN EXPECTED START OF PRODUCTION IN 2024.

Source text for Eikon:  ID:nWkr4wt7Jh 
Further company coverage:  GAPWb.ST 

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