As previously announced, JonDeTech Sensors AB (publ) and the Chinese tech-fund Jiuyou Fund signed a term sheet regarding a directed issue of SEK 40 million with a subscription period up until April 30, 2020. Jiuyou Fund confirms now the investment through binding agreement, under which a subscription of 2,932,552 shares will be made when the agreement is fulfilled. The investment corresponds to a price of SEK 13,64 per share and a dilution of approximately 13.65 percent.
The reason for the Board deciding to conduct an issue that deviated from the shareholders' preferential rights was the assessment that Jiuyou Fund will be able to play an instrumental role for the company in the Asian markets. Besides being a financially stable owner with a long-term belief in the company, Jiuyou Fund will be able to give access to relevant local stakeholders and a platform for value creation. JonDeTech and Jiuyou Fund has therefor also agreed in the binding agreement that the investment will be carried out through a transfer of SEK 20 million to a Swedish bank account of JonDeTech on May 15, 2020 at the latest, and the remaining SEK 20 million will be transferred in local currency to a wholly-owned subsidiary of JonDeTech in China. Technically, SEK 20 million in Sweden constitutes the issue proceeds and the remaining SEK 20 million in China will be contributed to JonDeTech as a condition for the investment.
The company will primarily use the capital to (i) develop the company's Go-To-Market strategy, (ii) strengthen the company's presence in Asia, (iii) develop the company's manufacturing capacity, (iv) strengthen the company's product portfolio, (v) strengthen the organization as well as (vi) new patents.
- It is with great pleasure and confidence that we can fully welcome Jiuyou Fund as well as their Chairman and CEO Frank Liu as shareholders in JonDeTech. Jiuyou Fund will be an important part of our Go-To-Market platform and we look forward to a mutually beneficial and long-term cooperation, says Per Lindeberg, CEO JonDeTech.
Upon completion of the transaction, the outstanding shares in the company will increase from 18,551,000 to 21,483,552, which corresponds to a dilution of approximately 13.65 percent. The issue of new shares will take place in accordance with the authorization granted to the Board by the Annual General Meeting on May 27, 2019.
For further information, please contact:
Per Lindeberg, CEO JonDeTech, Phone: +46 73 870 00 00, Email: firstname.lastname@example.org
Emil Esselin, Nordic Relationship Manager, Jiuyou Fund, Email: email@example.com
This information is information that JonDeTech 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, at 20.25 CEST on 30 April 2020.
JonDeTech is a Swedish company that develops, and markets patented IR sensor technology based on nanotechnology. The company's IR sensors are down to one-tenth as thick as conventional sensors, built in plastic and can be manufactured in high volumes at a low cost, which opens for a variety of applications in, among other things, consumer electronics and mobile phones. The company was founded in 2008 and is listed on Nasdaq First North Growth Market. Redeye is the company's Certified Adviser, +46-8-121 576 90, firstname.lastname@example.org, https://www.redeye.se. Read more at www.jondetech.se or see how the IR sensor works at www.youtube.com/watch?v=2vEc3dRsDq8.
JonDeTech Sensors AB (publ) and Varioprint AG, Heiden, Switzerland, have today signed a so-called term sheet, meaning that negotiations regarding a long-term collaboration regarding the development, production and distribution of JonDeTech's sensor elements will begin. The goal is to have reached a consensus by 30 June 2021 on issues concerning, among other things, forms of cooperation, financing, organization, volume targets and production units related to target markets.
To enable share-based commission to the underwriters in the rights issue carried out by JonDeTech Sensors AB (publ) ("JonDeTech" or the "Company"), the Company has issued 436,144 shares by way of a set-off issue. The set-off issue was registered with the Swedish Companies Registration Office on 16 October 2020.
On 28 August 2020, JonDeTech Sensors AB (publ) ("JonDeTech" or "the Company") published a prospectus for the fully underwritten rights issue of 3,634,560 shares with preferential rights for the Company's existing shareholders, resolved by the extraordinary general meeting on 10 August 2020 (the "Rights Issue"). The Rights Issue, in which the subscription period ended on 15 September 2020, was heavily oversubscribed and no underwriter undertakings will thus need to be utilised. The Rights Issue will provide the Company with approximately MSEK 36.3 before issue costs.
The prospectus relating to the rights issue in JonDeTech Sensors AB (publ) ("JonDeTech" or the "Company") of approximately a maximum of MSEK 36.3 before issue costs has today on 28 August 2020 been approved and registered by the Swedish Financial Supervisory Authority. The prospectus is available on the Company's website www.jondetech.se as well as on Hagberg & Aneborn's website www.hagberganeborn.se.
An extraordinary general meeting of JonDeTech Sensors AB (publ), reg. no. 556951-8532 (the "Company") will be held on Monday, 10 August 2020. Due to the current circumstances the general meeting will be held by way of a postal voting procedure, meaning that no shareholders will be participating at the general meeting in person or by proxy. Instead, shareholders may participate at the general meeting by voting and asking questions in advance in accordance with the instructions below.
JonDeTech Sensors AB (publ) ("JonDeTech" or the "Company") announces today that the board of directors has resolved to carry out a 100% underwritten rights issue of MSEK 36.45 as well as to carry out a directed share issue of MSEK 18.45. Both share issues are carried out at a subscription price of SEK 10.00 per share. The rights issue requires approval by an extraordinary general meeting, which is planned to be held on 10 August 2020.
This is the third project that JonDeTech and Chinese OFILM are working on together. The collaboration has already been initiated and the development agreement concerns a module to detect presence in laptops - a cornerstone in Intel's innovation program Project Athena. Turning off power-intensive functions when no one is in front of the computer reduces energy consumption and increases battery life.
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