Heliospectra AB -- Outcome of Subscription Warrants Provides the Company With Approximately 2.8 Million USD
GOTHENBURG, SWEDEN and SAN FRANCISCO, CA - (NewMediaWire) - October 13, 2015 - Heliospectra AB (
Weland Värdepapper AB, the parent company of Heliospectra's largest owner Weland Stål AB, has signed its full holdings of warrants corresponding to 10 million SEK (about 1.2 million USD) and Midroc New Technology has utilized their warrants for a subscription of 1 million SEK (about 120000 USD).
The outcome means that about 90% of the subscription warrants in series TO 1 has been used. The contribution will be used to accelerate sales approaches, particularly in the expanding US market. "Heliospectra has recently received several orders, which means a strong commercial breakthrough in the US, and we anticipate continued strong growth in sales of our products," says Staffan Hillberg, CEO, Heliospectra.
The new shares will be delivered as soon as the registration with the Swedish companies' registration office has taken place. Following the transaction, Heliospectra AB will have a total of 18,542,196 pieces of shares. The Company reserves the right for minor discrepancies in connection with the final registration of the issue.
G & W Fondkommission AB has acted as financial advisor to Heliospectra AB in connection with the transaction. Aktieinvest FK AB is acting as the issuing institution.
About Heliospectra AB
Heliospectra AB (
Heliospectra products are based on in-depth knowledge in plant physiology and photosynthesis along with a unique way to utilize modern LED technology. After six years of development in Sweden, the company has now begun to expand into the international market. The company has raised more than $ 18 million in capital and has received more than $2.6 million through academic scholarships and grants. It has also received numerous awards for its forward thinking technology. Principal owners: Weland Steel www.welandstal.se, Swedish Industrial Fund www.industrifonden.se, Midroc www.midroc.se, Wood & Hill Investment www.whab.se.
Forward-Looking Statements The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions.
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