Precise Biometrics AB (publ) (“Precise Biometrics” or the “Company”) (Nasdaq Stockholm ticker: PREC) announces its intention to undertake a private placement of shares.
For the purpose of financing Precise Biometrics’ ongoing acquisition of NexID Biometrics while maintaining the Company’s current financial position, the board of directors intends to resolve, based on the authorization by the 2016 annual general meeting, on a private placement of shares in order to raise gross proceeds of up to SEK 50 million (the “Private Placement”).
The Private Placement is directed to Swedish and international qualified investors. The subscription price for the shares in the Private Placement will be determined in a book-building process that will begin no earlier than 17:31 (CET) on 13 December 2016, and end before the commencement of trading on Nasdaq Stockholm on 14 December 2016. The minimum order has been set at the number of shares corresponding to EUR 100,000. The order period for the Private Placement may close earlier or be extended at the discretion of the Company.
The Board of Directors can choose to cancel the book-building in its sole discretion for any reasons and can refrain from continuing with the Private Placement.
Pareto Securities AB (”Pareto Securities”) has been appointed as sole manager and bookrunner in connection with the Private Placement.
Precise Biometrics is a market leading supplier of solutions for convenient and secure authentication of people’s identity. We develop and sell fingerprint software and mobile smart card readers that provide the market’s best user experience and security. Our solutions are used hundreds of millions of times every day by people all over the world and are marketed together with strong business partners. For more information, please visit: