Sivers Semiconductors AB, a company specialized in semiconductor solutions for telecommunications and data centers, has announced its intention to conduct a directed issuance of common shares valued at approximately 105 million Swedish kronor (SEK). This move aims to attract national and international institutional investors, as well as other qualified investors, through an accelerated “book-building” process.
Details of the Share Issuance
The issuance will be divided into two tranches:
- Tranche 1: Up to 26.1 million shares, granted under the authorization provided at the annual general meeting in May 2024.
- Tranche 2: A tranche reserved for board members, company management, and a pre-agreed investor. This tranche will require the approval of an extraordinary general meeting.
The subscription price and the allocation of shares will be determined through the accelerated “book-building” process, which is expected to be completed before the opening of the Stockholm Stock Exchange on January 16, 2025. The outcome of the process will be communicated in an official announcement.
Funding Objectives
Sivers Semiconductors plans to utilize the raised funds for:
- Product Development: Addressing specific customer requirements and advancing customized solutions.
- Production Preparation: Ensuring quality and compliance in its manufacturing process.
- Expansion in the United States: Establishing and strengthening its sales and support operations in this key market.
- Portfolio Expansion: Launching new products that enable access to broader markets.
Reasons for Excluding Existing Shareholders
The board of directors opted for a directed issuance instead of one that includes preemptive rights for shareholders for the following reasons:
- Diversification of the shareholder base to include more institutional investors.
- Quicker implementation and lower impact on share prices in a volatile market context.
- Lower operational costs compared to a traditional issuance with preemptive rights.
Strategic Impact
This issuance represents a key step for Sivers Semiconductors in its strategy to establish itself as a relevant player in the development of advanced technologies for artificial intelligence, telecommunications, and data center applications. Additionally, it strengthens its financial capacity to address existing debt maturities and finance ongoing projects.
With this initiative, the company reinforces its commitment to innovation and sustainability, two fundamental pillars in its mission to enable a more environmentally friendly and efficient data economy.
Conclusion
Sivers Semiconductors is pursuing a strategic expansion that will not only strengthen its position in key markets like the United States but also allow it to advance in the development of high-precision technological solutions. The approval and execution of this directed issuance will be crucial for its sustained growth in a competitive and constantly evolving environment.
via: PRnewswire