Cxense has successfully raised NOK 40 million in a Private Placement completed after close of the Oslo Stock Exchange on 24 August 2017. The Private Placement was oversubscribed and a total of 1,000,000 New Shares have been conditionally allocated to the subscribers in the Private Placement. The subscription price per New Share was NOK 40.The shares issued in the Private Placement correspond to approximately 12.6% of the issued and outstanding shares of the Company.
The net proceeds from the Private Placement will be used to finance the Company's operation backed by the DMP & Personalization growth strategy, as well as for general corporate purposes. It is expected that the net proceeds together with the restructuring will finance operations to break even.
The Private Placement was fully underwritten by a guarantee consortium existing of the existing shareholders Ferd AS, Aker Capital AS, Norron Sicav - Target and Asah AS, at a price of NOK 40 per share. The underwriters will be entitled to an underwriting commission of 1.5% of the gross proceeds raised in the Private Placement.
The Private Placement and the issuance of New Shares remain subject to all required corporate resolutions by the Company to issue the New Shares and to consummate the Private Placement, including approval from the shareholders at an extraordinary general meeting to be held on or about 18 September 2017, and the New Shares having been fully paid and legally issued.
Cxense’ Board of Directors will consider to carry out a subsequent Repair Offering of up to 150,000 new shares at a subscription price of NOK 40 per share directed to the Company’s as of 24 August 2017 that was not invited or allowed to participate in the Private Placement.
Aabø-Evensen & Co is acting as legal advisor to Cxense ASA.
Click here to be redirected to Cxense’ Stock Exchange Notice.