IVISYS is making a private placement and welcoming Athanase Industrial Partner as a major shareholder.
IVISYS AB (“IVISYS”, “The Company”) has carried out a directed issue of 1,883,450 shares and has therebyreceived new funding worth approximately 6.6 MSEK. The new shareholder is Athanase Industrial Partner (“Athanase”).
In addition, Athanase takes over the existing loan of 4.5 MSEK. Further the timing of a possible conversion is moved until February 29, 2020. At this time, Athanase has the opportunity to convert the loan into shares on the same terms as the previous lenders.
The subscription price of SEK 3.5 per share has been determined by the company’s Board of Directors, based on an average share price over the last 30 days of trading, less a 10% discount, and the prevailing market interest.
The reason for the deviation from the shareholders’ preferential rights has been to attract a larger professional investor who, in addition to contributing with funding, can also support the company’s development forward, both with competence and experience.
The proceeds from the issuewill mainly be used to finance the Company’s continued growth, with a focus on the sale of IVISYS unique standard products.
Through the directed new share issuance, the total number of shares and votes in the Company will increase by 1,883,450 shares from 11,177,083 shares to 13,060,533 Shares. The new share issue entails a dilution effect for existing shareholders of approximately 14.4 percent based on the total number of shares and votes in IVISYS after the new share issue.
CEO MIKAEL SJÖHOLM COMMENTS
“It is flattering for me and for the company to be able to invite Athanase Industrial Partner as part owner of IVISYS. IVISYS has come a long way in a short time, but a company like ours always needs support and help along the way to achieve the high goals we have set out for ourselves. Therefore, I look much forward to the cooperation with Athanase, and the support they can offer, not only financially on our journey, but especially the expertise and experience in corporate development that Athanase has shown historically, “says IVISYS CEO Mikael Sjöholm.
DANIEL NYHREN, PARTNER, ATHANASE COMMENTS
“We have been interested in IVISYS for a longer time, as the company is active in a developing and interesting market with strong growth. Now the company has also shown that their own developed products can sell in larger numbers to a demanding customer group. It was therefore very positive, that the management and board of IVISYS welcomed our offer of capital and support for the future development of the company. We believe that IVISYS, when given the necessary resources, will be able to increase their turnover significantly, and we look forward to supporting this work together with IVISYS board and management,” says Daniel Nyhren
SedermeraFondkommission is Certified Adviser to IVISYS. Sedermerafondkommisioncan be contacted via e-mail: email@example.com or by phone +46 40 615 14 10.
FOR MORE INFORMATION, PLEASE CONTACT:
Chairman IVISYS AB
Phone: +45 20 22 60 10
This information is information that IVISYS AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above on 26 February 2019.
IVISYS is combining the knowledge of two engineering companies, one with a superior patented image processing software and the other with a unique superior command of Image acquisition. The unique product offering of IVISYS with the IVISYS Pro software suite, the use of artificial intelligence (AI) and outstanding quality in light and sensor knowledge is giving the Industry automated vision inspection solutions that are reliable, fast and flexible. With a portfolio of standard solutions that can be integrated in almost all industrial productions the market accessible to IVISYS is global, large in volume, and growing at the rate of the industry automation, currently strongly driven by the industry 4.0 approach. The solutions offered are available to most industrial manufacturers due to the short ROI, when comparing to existing manual control widely used in the industry today.
Winner of Frost & Sullivan’s entrepreneurial price in Europa 2017.