At the meeting of the Board of Directors of Freedesk AB held on March 2, 2017 it was decided that, with the authorization from the Annual General Meeting held on February 16, 2017, to issue new shares ahead its scheduled listing on AktieTorget. At full subscription to the new share issue, the company will receive an increase of capital in the amount of approx. SEK 12.5 million (before issuance costs). The listing on AktieTorget is scheduled to take place in late April 2017.
Freedesk is a company that develops a wide range of simple and flexible products to promote a more active and productive day, every day. The focus is on how one can carry out their everyday activities in a more active way, in order to enhance the user’s well-being and productivity. Initially, the focus is on the company’s portable product Freedesk Desk Riser, which enables the user to stand up and work wherever one so desires. The company’s vision is to be the global leader with simple and flexible solutions that contribute to a healthy and productive lifestyle. In addition to the Freedesk Desk Riser, the company has also launched its Freedesk Personal Space and Freedesk LapTop Stand products.
Planned issuance of new shares for rapid expansion
According to the Board of Directors, at the moment Freedesk is at the forefront in the market with an innovative, exceptionally useful, and well-regarded product – the Freedesk Desk Riser. Freedesk has the ambition to expand strongly, and therefore the company is in need of additional capital. Over time, Freedesk will have a gross margin that will cover the company’s operating costs, but with the intense activity that the company is already involved with, the Board of Directors has determined that the time is right to accelerate efforts and back this up with the requisite resources. Freedesk is implementing a new share issue ahead of its planned listing on AktieTorget. The volume of the new share issue amounts to approx. SEK 12.5 million (before deductions for issuance costs, which are estimated to amount to approx. SEK 1.1 million). In the event that the forthcoming rights issue is fully subscribed, it is the assessment of the Board of Directors that the proceeds from the issuance of new shares will finance the business activities until the company is able to generate a profit.
Comments from the CEO, Stefan Westergård
“We are now in a position with an opportunity for a rapid expansion, for which we want to obtain sufficient capital in order to implement a global expansion. The focus initially will be on Northern Europe and the United States, and then later to actively pursue other regions. Our work is first and foremost about being able to follow up and pursue important customer leads, and to finance investments in sales and marketing efforts. We are talking here about the expansion of our dealer network as well as continued efforts regarding e-commerce, social media and public relations. With a stronger financial position, we will also be able to increase our opportunities for innovation in order to be constantly one step ahead with new innovative, simple and flexible products. We will also have better preconditions to work with production streamlining and efficiency improvements along with cost reductions in order to improve margins. Additionally we will be better able to secure our intellectual property rights for existing and future products.”
The Offer in brief
|Subscription period:||16 March – 6 April 2017.|
|Subscription price/Issue price:||SEK 3.50 per share.|
|Issuing volume and minimum amount for the implementation of the new share issue:||The offer encompasses a maximum of 3,580,000 shares, corresponding to SEK 12,530,000. The lowest amount for the implementation of the issuance of new shares is SEK 7,980,000.|
|Block for Subscription:||The minimum block of shares subscription is for 1,400 shares (corresponding to approx. SEK 4,900).|
|Number of shares before the New Share Issue:||7,975,000 shares.|
|Valuation (pre-money):||Approx. SEK 27.9 million.|
|Subscription commitments:||The company has received subscription commitments totaling approximately SEK 6 million, representing approx. 48 percent of the issue volume.|
|Listing on AktieTorget:||The plans are for the shares of Freedesk to be listed on AktieTorget. April 27, 2017 is the projected date for the first day of trading.|
The invitation to subscribe for shares is not addressed to persons whose participation would require a further prospectus, registration measures, or additional measures other than those required by Swedish law. The invitation to subscribe for shares may not be distributed in the United States, Australia, Japan, Canada, New Zealand, South Africa, Hong Kong, Switzerland, Singapore or other countries where the distribution or this invitation requires further measures under the preceding sentence or is in contravention of the rules in such country.
In connection with the planned new share issue, Freedesk will participate in informational meetings in order to provide information about the company’s business operations as well as to discuss its future plans. There is no charge to attend out informational meetings, and refreshments will be served. For further information about the investor meetings, please visit Sedermera Fondkommission’s website (www.sedermera.se) or feel free to contact Sedermera Fondkommission via telephone at +46 (0)40-615 14 10 or via e-mail: firstname.lastname@example.org.
|Date and Time||Organizer||Location (city and site)||Notification of attendance|
|March 14, 2017 at 16:00–16:30||Aktiespararna||Gjutaregatan 5, Högskolan in Jönköping (HLK), Jönköping.||email@example.com|
|March 15, 2017 at 10:30–11:00||Aktiespararna||Elite Ideon Hotel,
Scheelevägen 27, Lund.
|March 16, 2017 at 18:00–21:30||Sedermera Fondkommission||Flädie Mejeriväg 19,
237 91 Bjärred.
|March 20, 2017 at 11:30–13:00||Sedermera Fondkommission||Scandic Klara,
Slöjdgatan 7, Stockholm.
|March 20, 2017 at 18:00–18:30||Aktiespararna, Women’s Night||Hotel Birger Jarl,
Jarlsgatan 61 A, Stockholm.
|March 21, 2017 at 18:30–21:00||Aktiespararna||Jenny Nyströmsskolan, Smålandsgatan 25, Kalmar.||www.aktiespararna.se|
|March 22, 2017 at 17:30–19:00||Sedermera Fondkommission, “After Work”||Norra Vallgatan 64, Malmö.||firstname.lastname@example.org|
|March 27, 2017.at 11:30–13:00||Sedermera Fondkommission||Elit Park Avenue Hotel, Kungsportsavenyen 36, Gothenburg.||email@example.com|
|March 27, 2017.at 20:00–20:30||Aktiespararna||Hotell Anglais, Humlegårdsgatan 23 (Stureplan), Stockholm.||www.aktiespararna.se|
|March 28, 2017 at 18:00–21:00||Aktiespararna||Elite Park Avenue, Kungsportsavenyn 36, Gothenburg.||www.aktiespararna.se/evenemang|