Loudspring carries out a directed share issue of EUR 1,5 million

Loudspring Oyj
Company release, inside information
23.11.2020, 08:30 (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 22 November 2020 resolved on a directed share issue of EUR 1,5 million to a group of private investors (the "Share Issue").

In the Share Issue, 4 687 500 new class A shares (the "Offer Shares") were offered. The subscription price in the Share Issue was set at EUR 0,32 per Offer Share and amounts to a total of EUR 1,5 million. The subscription price equals a discount of 9% to the 40-day volume weighted average price of the Company's class A share on First North Growth Market Finland on 20 November 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 14 % of the outstanding shares and 4 % 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 34 246 408. The total number of issued and outstanding shares of the Company will be 38 300 439.

Loudspring CEO Jarkko Joki-Tokola: "We have recently completed funding rounds for all of our core portfolio companies. This emission allows us to invest into increasing Eagle Filters manufacturing capacity of high quality respirators. We expect superior product qualities and state of the art manufacturing environment to allow Eagle Filters to soon deliver on its growth promise."