Loudspring carries out a directed share issue of EUR 1,6 million

Loudspring Oyj
Company release, inside information
9.12.2020, 09:00 (EET)

Based on the authorization granted by the Annual General Meeting of the Company on 3 August 2020, the Board of Directors of Loudspring Oyj (”Loudspring” or the ”Company”) have on 8 December 2020 resolved on a directed share issue of EUR 1,6M to a private investor (the ”Share Issue”).

In the Share Issue, 4 201 389 new class A shares (the ”Offer Shares”) were offered. The subscription price in the Share Issue was set at EUR 0,38 per Offer Share and amounts to a total of EUR 1,6M. The subscription price equals a discount of 5% to the 10-day volume weighted average price of the Company’s class A share on First North Growth Market Finland on 4 December 2020. 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 9,9 % of the outstanding shares and 3,5% 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 38 447 797. The total number of issued and outstanding shares of the Company will be 42 501 828.

Loudspring CEO Jarkko Joki-Tokola: ”During the past months we have completed funding rounds for all of our core portfolio companies that now are fully funded to execute their business plans. This emission is a continuation of the recently completed emission and also Loudspring is now fully funded to execute Eagle Filters’ business plan both on industrial as well as on respirator business area. Eagle Filters’ industrial business area shows clear signs of recovery after covid shutdowns and on the respirator business area investments are made to increase manufacturing capacity enabling sustained growth.”

Loudspring Oyj

Board of Directors