XMReality: Directed share issue (SEK 56.3m)
Research Note
2021-02-17
08:22
Redeye regards the directed share issue positively. In our Q4 update, published yesterday, we commented on the potential need to raise cash before becoming profitable in 2023 – this has now been taken care of. To a large extent, the proceeds will be used to underpin XMReality’s rapid expansion and ambitious growth plans. The Company hereby raises approx. SEK 56.3m before transaction costs to a subscription price of SEK 8.25 per share – corresponding to a discount of ~7% to yesterday’s closing price. The principal investors are Investment Aktiebolaget Spiltan and Adrigo Small & Midcap, in addition to ~30 family offices and private investors. Redeye reiterates its fair value range and Base of SEK 10.
FG
Forbes Goldman
Disclosures and disclaimers