THU, APR 22, 2021 12:22 CET
LED iBond International’s (LED iBond) rights issue, which was announced on 16 March 2021, has attracted significant attention in the market – both among the company’s existing shareholders and among new investors.
The total number of subscription requests amounted to DKK 92.3 million. The rights issue of DKK 57.1 million, equivalent to an offering of 3,172,965 new shares, was thus oversubscribed by 62%. Due to the substantial interest in subscribing for shares, no underwriting undertakings have been utilized.
Approximately 33.5 % of the new shares were subscribed for by exercise of pre-emptive subscription rights while the remaining approx. 66.5% of the offering were subscribed by existing shareholders and around 500 new shareholders. Allotment of this part of the offering has been made in accordance with the principles described in the prospectus of 16 March 2021.
Rolf H. Sprunk-Jansen, CEO of LED iBond International A/S, says:
– We are very pleased with this result of the rights issue. It is a huge success for the company and for our employees that our existing shareholders are supporting the business with additional capital and that we can welcome 500 new shareholders. It is the best possible starting point for our plans to accelerate business development and increase production capacity.
LED iBond expects that settlement of the offer shares and registration of the share capital increase with the Danish Business Authority will take place on 27 April 2021.
The company further expects that the first day of trading of the offer shares on Nasdaq First North Growth Market Denmark is 28 April 2021 and that the merger of the temporary and permanent ISIN codes will be implemented on 29 April 2021 after 5:00 p.m. CET.
Rolf H. Sprunk-Jansen, CEO
Mobile: +45 2020 3005
LED iBond International A/S
Agern Allé 5A
Telephone: +45 7070 7855
Certified advisor contact
Västra Hamnen Corporate Finance
211 19 Malmö
Telephone: +46 40 200 250
About LED iBond International A/S
Founded in 2014, LED iBond International offers innovative solutions for integrating light and data, based on the company’s deep knowledge of modern LED technology and many years of development. The patented technology includes the lightest and thinnest LED basis available, offering a unique value proposition combining total design flexibility, full IoT integration and low total costs of ownership. LED iBond’s technology has been deployed in many projects, ranging from intelligent shelf lighting to large scale indoor illumination projects such as the installation of 3.2 kilometres of Tracy®, the company’s innovative flagship product, at DTU, the Technical University of Denmark.
Due to the data transfer capabilities, superior form factor and cooling properties of the technology platform, LED iBond is focusing on three business areas: smart buildings, UV-C disinfection and vertical farming, all projected to show significant growth in the years to come.
LED iBond International A/S is admitted to trading on Nasdaq First North Growth Market Denmark (ticker: LEDIBOND).