Metacon AB Announces Capital Raise of Approximately 144 MSEK
Metacon AB plans to raise approximately 144 MSEK through a rights issue and convertible bond issuance. This capital will strengthen the company's financial position, support ongoing projects, and expand its market presence.
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Metacon AB's board has approved a capital raise of up to 144 MSEK, comprising a rights issue of 109 MSEK and a convertible loan agreement with Fenja Capital II A/S for 35 MSEK. The subscription price for the rights issue is set at 0.20 SEK per share, with existing shareholders entitled to one subscription right per share held.
The funds aim to refinance existing debt, enhance working capital for ongoing projects, and bolster commercial activities. The rights issue is expected to dilute existing shareholders by up to 28.6% if fully subscribed.
Pareto Securities has provided a guarantee for 75 MSEK of the rights issue, equating to 68.8% of the total. The financing strategy is critical for Metacon to capitalize on growth opportunities in the hydrogen production sector.
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