STOCKHOLM, Sept. 17, 2021 /PRNewswire/ -- The board of
directors of OXE Marine AB (publ) ("OXE Marine" or the "Company")
has today, as authorized by the annual general meeting on
16 April 2021, resolved to increase
the Company's share capital by way of a directed issue of
10,435,777 shares to a smaller group of existing investors,
including industrial investor Koenigsegg. The shares are issued at
a subscription price of SEK 2.18 per
share, which corresponds to the volume weighted average price for
the Company's share on Nasdaq First North Growth Market during the
period from 3 September 2021 to
16 September 2021, and will raise
MSEK 22.75 for the Company.
Directed share issue
The reason for the resolution and the deviation from the
shareholders' pre-emption rights is to, in a time and cost
effective way, secure the Company's intermediate need for
additional funding. The need for additional funding has arisen
rapidly due to a lower availability of components from external
suppliers than planned, which has affected the Company's ability to
increase the production rate after the summer.
"In spite of a very challenging global supply chain
situation, our dedicated team has been able to plan, validate and
execute our ramp-up of operations without any stops during the
quarter. However, parts of our supplier base have struggled to keep
up with our planned increase in demand, which has led to a lower
pace of ramp-up than expected. In order for us to increase
visibility and hence the quality of our promises to customers, we
will work even closer with these suppliers, also supporting
increased stock levels of the most crucial components. In order to
enable this, we decided to carry out a directed share
issue." says Magnus Grönborg, CEO of OXE Marine AB.
The share issue has been fully subscribed for by a smaller group
of existing investors, including industrial investor Koenigsegg
through its parent company Spirit of Performance AB. Christian von
Koenigsegg and companies controlled by him, acting through capital
insurance accounts, own more than 10% of the Company. Through the
share issue, the Company raises MSEK 22.75. The subscription price
is SEK 2.18 per share, which
corresponds to the volume weighted average price for the Company's
share on Nasdaq First North Growth Market during the period from
3 September 2021 to 16 September 2021.
"I have followed the Company for some time as we are both
active in the same local region in Skåne. I hope to be able to
contribute with my network, competence and knowledge to build an
even stronger OXE Marine" says Christian von Koenigsegg.
Through the share issue, the number of shares in OXE Marine with
will increase by 10,435,777, from 197,789,521 to 208,225,298
shares, and the share capital will increase by SEK 312,912.80, from SEK
5,930,643.35 to SEK
6,243,556.15.
This disclosure contains information that OXE Marine AB is
obliged to make public pursuant to the EU Market Abuse Regulation
(EU nr 596/2014). The information was submitted for publication,
through the agency of the contact person, on 17-09-2021 07:00
CET.
CONTACT:
Advisers
Advokatfirman Lindahl is legal adviser and Redeye AB is financial
adviser to OXE in the share issue.
Certified Adviser
FNCA Sweden AB is Certified Adviser for OXE Marine AB (publ).
Contact details to FNCA Sweden AB: tel. +46 8 528 00 399,
e-mail info@fnca.se.
For further information, please contact:
Magnus Grönborg, CEO, magnus.gronborg@oxemarine.com , +46 76 724
73 00
Anders Berg, Chairman,
anders.berg@oxemarine.com , +46 70 358 91 55
OXE Marine AB (publ) (NASDAQ STO: OXE, OTCQX: CMMCF)
has, after several years of development, constructed the OXE
Diesel, the world's first diesel outboard engine in the high-power
segment. The Company's unique patented engine-to-propulsion power
transmission solutions have led to high demand for the Company's
engines worldwide
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SOURCE OXE Marine AB