Press-release - OrganoClick AB raises gross SEK 75 million in new equity and applies for listing on Nasdaq First North
Cleantech company OrganoClick AB raises gross SEK 75 million in new equity and intends to list its shares on Nasdaq First North with first day of trading expected on 16 February 2015. The capital will be used to scale up the companies sales and marketing activities for its green chemical and material technologies.
Press release issued by OrganoClick AB on 10 February 2015
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On 9 February 2015, the Board of Directors of OrganoClick AB (“OrganoClick”) resolved to issue 11,029,412 new shares through a directed new share issue to Nordic institutional investors and other qualified investors (the “Private Placement”). The price of the new shares was set at SEK 6.80 per share, corresponding to a gross equity raising 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 the sales and marketing organization in the business areas Performance textiles & nonwoven and Fiber composites & paper products, as well as to support the current strong growth in the business area Functional wood.
OrganoClick has applied to have its shares listed on Nasdaq First North with expected first day of trading on or about 16 February 2015 under the ticker symbol “ORGC” (ISIN: SE0006510335).
A company description will be published on OrganoClick’s website (www.organoclick.com) prior to the listing of OrganoClick’s shares on Nasdaq First North.
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. Gernandt & Danielsson Advokatbyrå acted as OrganoClick’s legal advisor with regards to the Private Placement.
For more information, please visit OrganoClick’s website at www.organoclick.com or contact:
OrganoClick is a Swedish cleantech company that develops, produces and markets functional materials based on environmentally friendly fiber chemistry. Examples of products that are marketed by OrganoClick are 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 within environmentally friendly fiber chemistry. OrganoClick 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 awards, such as the World Wildlife Fund (WWF) "Climate Solver" award and has also appeared two years on the Affärsvärldens and NyTekniks list of Sweden's top 33 hottest technology companies. OrganoClick has its head office, production and R&D located in Täby, north of Stockholm.