Pressreleaser | 5 Sep 2022 | Eagle Filters Group

Loudspring carries out a directed share issue of EUR 1.5 million

Loudspring Oyj
Company release, inside information
5 September 2022, 9:00 (EET)

Based on the authorization granted by the Annual General Meeting of the Company on 20 June 2022, the Board of Directors of Loudspring Oyj (”Loudspring” or the ”Company”) have on 4 September 2022 resolved on a directed share issue of EUR 1.5 million to a group of private investors (the ”Share Issue”).

In the Share Issue, 22 461 540 new class A shares (the ”Offer Shares”) were offered. The subscription price in the Share Issue was set at EUR 0,065 per Offer Share and amounts to a total of EUR 1.5 million. The subscription price equals a discount of 7% to the 30-day volume weighted average price of the Company’s class A share on First North Growth Market Finland on 2 September 2022. The entire subscription price of the Offer Shares will be recorded in the Company’s reserve for invested unrestricted equity. The reasons for the deviation from the shareholders’ preemptive rights was to raise capital in a time and cost-effective manner.

The Offer Shares represent approximately 22,4 % of the outstanding shares and 12,3% of the votes in the Company after the Share Issue. Following the Share Issue, the number of issued and outstanding class A shares of the Company will be 95 890 417. The total number of issued and outstanding shares of the Company will be 100 199 011.

Loudspring CEO Jarkko Joki-Tokola: ”Last week we published our H1 report and reported on Eagle Filters’ growing sales pipeline. This emission provides working capital to support Eagle Filters’ growth. Eagle Filters has made the last payments on its financial restructuring program in advance to the repayment schedule and we target using regural trade financing to support Eagle Filters’ future business and growt.”

LOUDSPRING OYJ

Board of Directors