Gothenburg, Sweden. Smoltek Nanotech Holding AB announced a positive result for its new share issue—the IPO in connection with its listing at AktieTorget was subscribed to 168%. The company will receive 20.0 million SEK (about $2,486,000) before the new share issue costs, which will amount to approximately 2.0 million SEK. The company also reported having received orders from a global consumer-electronics manufacturer and a process-technology supplier.
The subscription period for Smoltek’s offer was terminated on February 9, 2018. 650 investors had applied for shares in the offer, resulting in that Smoltek have now 711 shareholders. The number of shares will increase by 1,117,300 shares to a total of 5,314,450 shares when the new share issue is registered at Bolagsverket. In advance, a number of qualified investors pre-committed subscriptions for shares equivalent to a value of 10.0 million SEK, corresponding to 50.0% of the offer.
The CEO of the nanotech company, Anders Johansson, is satisfied with the result of the new share issue. “I think it is a fantastic result with such a high subscription rate! It is encouraging that hardware-related technology now attracts such a great deal of interest, not least in these shaky times on the stock markets. We have now established the financial platform for our next phase,” says Johansson.
In related news, Smoltek announced last month that it has received an order from a leading global semiconductor process technology supplier for a customer-specific application and includes production of tailor-made test devices. Johansson said, “This order demonstrates a real interest in evaluating Smoltek’s technology, in this case for a customer-specific application for which the customer has identified a business potential. This proves that our technology is interesting already at this point. We see this as a confirmation of that the time has now come for Smoltek.” Smoltek plans to complete the delivery during the first quarter of 2018.
And earlier this month, the company reported it has received an order from a global manufacturer of consumer electronics. The includes a series of process tests for evaluation of Smoltek’s technology for a customer-specific application area. The delivery is scheduled for March through April 2018. “We see this order as an additional confirmation of that Smoltek’s unique technology is relevant to the industry today, and for many different application areas. Our long-term business development efforts are just beginning to pay off and we are well positioned with practical know-how as well as strong patent protection,” said Johansson.
Allocation and payment
With regard to the share issue, the company said that due to the high level of subscriptions, full allocation cannot be made. Allocation of shares has been decided by the board in agreement with the allocation principles established in the information memorandum dated in January 2018. Contract notes will be sent to subscribers who have been awarded allocation on February 13 with settlement on February 16. The first day of trading at AktieTorget will be February 26, 2018. Partner Fondkommission has been Smoltek’s financial advisor.
About Smoltek
The Company was founded in 2005 and is a privately held company based in Gothenburg, Sweden. It specializes in development of nanostructure fabrication technology to solve advanced materials engineering problems. Smoltek has a portfolio of 65 patents, of which 48 is granted today. The market segment where Smoltek is active is called Advanced Packaging and is estimated by Research & Markets in a market update from September 2017 to grow with an average of 7.19 percent per year (CAGR) during the period from 2016 to 2022 and have a market value of $40.33 billion in 2022
See related article, “Shrinking packages if not transistors.”