Brief: Artificial Solutions Announces Rights Issue Of Up To SEK 120 Mln

Teneo AI AB

12/12/2019 07:50

Dec 12 (Reuters) - Artificial Solutions International AB
 ASAIN.ST :
    * ARTIFICIAL SOLUTIONS ANNOUNCES A RIGHTS ISSUE OF UP TO
APPROXIMATELY 120 MSEK WITH SUBSCRIPTION COMMITMENTS AND
DECLARATIONS OF INTENT OF 75 MSEK, INCLUDING AN OVER-ALLOTMENT
OPTION OF UP TO 30 MSEK
    * SUBSCRIPTION PRICE IS SET TO SEK 6.50 PER SHARE
    * ASSUMING FULL SUBSCRIPTION, CORRESPONDS TO PROCEEDS OF
APPROXIMATELY SEK 120 MILLION BEFORE DEDUCTION OF TRANSACTION
COSTS
    * TO DECIDE UPON A DIRECTED NEW SHARE ISSUE OF MAXIMUM
4,615,500
NEW SHARES, CORRESPONDING TO APPROXIMATELY SEK 30 MILLION
    * PROCEEDS WILL PROVIDE COMPANY WITH SUFFICIENT FINANCIAL
RESOURCES TO FULFIL ITS EXISTING BUSINESS PLAN AND FINANCE
COMPANY UNTIL IT IS CASH FLOW POSITIVE
    * PROPOSES OVER-ALLOTMENT OPTION OF MAXIMUM 4,615,500 NEW
SHARES,
WHICH WILL BE ISSUED AT A SUBSCRIPTION PRICE OF SEK 6.50 PER
SHARE
    * IF OVER-ALLOTMENT OPTION IS FULLY SUBSCRIBED, COMPANY WILL
RECEIVE ADDITIONAL PROCEEDS OF SEK 30 MILLION, BEFORE DEDUCTION
FOR TRANSACTION COSTS

Source text for Eikon:  ID:nWkr45wQpQ 
Further company coverage:  ASAIN.ST 

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