Sweden based Cleantech company, OrganoClick AB said its raised SEK 75 million in new equity and intends to list its shares on NASDAQ First North with first day of trading expected on February 16, 2015.
”The capital will be used to scale up our sales and marketing activities for our green chemical and material technologies,” it added.Sweden based Cleantech company, OrganoClick AB said its raised SEK 75 million in new equity and intends to list its shares on NASDAQ First North with #
On February 9, 2015, the board of directors of OrganoClick AB resolved to issue 11,029,412 new shares through a directed new share issue to Nordic institutional investors and other qualified investors.
The price of new shares was set at SEK 6.80 per share, corresponding to a gross equity amounting to SEK 75 million.
OrganoClick will have a total of 66,067,861 shares outstanding following the private placement.
OrganoClick intends to use the proceeds from the private placement, primarily to scale up its sales and marketing segment in business areas like performance textiles, nonwovens and fibre composites.
Pareto Securities AB acted as sole manager and bookrunner in connection with the private placement and will act as the certified adviser for OrganoClick on Nasdaq First North.
OrganoClick is a Cleantech company that develops, produces and markets functional materials based on environmentally friendly fibre chemistry.
It markets products like the water repellent fabric treatment OrganoTex, the flame and rot-resistant timber OrganoWood and biocomposite materials.
OrganoClick was founded in 2006 as a commercial spin-off company based on research performed at Stockholm University and the Swedish University of Agricultural Sciences.
It has won a number of prizes, such as "Sweden's Most Promising Start-up" and "Sweden's Best Environmental Innovation", and has also received a number of other awards. (AR)
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