Share issue for H&D Wireless oversubscribed

The share issue for H&D Wireless, the Swedish provider of IoT Cloud Platform and RTLS Solutions, was a success, the company said.

The share was subscribed with 170 per cent of the shares available in the issue where existing shareholders had preference. In total, the company has before issue costs added liquid funds of SEK 24.0 million in the rights issue and 2.4 million in a directed issue for overallocation.

The currently implemented preferential share issue is 3 000 906 B shares at a subscription price of SEK 8 per share, which means an increase in the share capital by a maximum of SEK 150 045. In total, H&D Wireless received subscription notification of 5 112 820 shares of which 1 623 405 was with the support of subscription rights and 3 489 415 shares were with without the support of subscription rights.

272 053 shares are settled in a directed issue as payment for remuneration to the subscribers who have entered into a guarantee with the company in connection with the share issue with preferential rights. 300 000 shares are issued in a directed issue to subscribers who have been identified as appropriate investors by the Board in connection with the rights issue against cash payment of SEK 8 per share.

Cash issue costs are estimated at approximately SEK 3 million. The number of shares increases in total to 17 577 191 shares and the share capital to SEK 878 860.

H&D Wireless is a Swedish Internet of Things cloud and platform system provider. Its Griffin IoT cloud platform is an end-to-end system solution containing world-class wireless modules, cloud services with analytics and artificial intelligence and smartphone applications for smart homes and enterprises.