NewswireToday - /newswire/ -
Gothenburg, Sweden, 2011/04/11 - Fingerprint Cards (FPC) discloses that the company has today implemented a private placement of 3,940,000 new Class B shares, corresponding to about 9.9% of the number of shares outstanding in the company.
The new share issue provides the company with SEK 28 M before deductions for issue expenses.
The private placement was targeted at a few institutional investors in Sweden and internationally at a price of SEK 7.00 per share. The proceeds from the private placement will facilitate accelerated expansion and development of the company, its market and products.
To implement the share issue, the Board of Directors of Fingerprint Cards AB (publ) decided, pursuant to authorization granted by the 2010 Annual General Meeting, on a private placement of 3,940, 000 new Class B shares, dis-applying the shareholders’ preferential rights. The subscription price of the private placement corresponded to a discount of approx. 7.5% compared with the 10-day volume-weighted average share price. As a result of the share issue, the number of shares in the company will increase by 3,940, 000 Class B shares from 39,669, 586 shares to a total of 43,609, 586 shares and share capital will increase by SEK 788,000 from SEK 7,933, 917 to SEK 8,721, 917.
Johan Carlström, CEO of FPC, comments on the private placement:
“We are delighted at the interest shown by institutional investors, both in Sweden and internationally, and welcome them on board as shareholders. This successful transaction enhances FPC’s financial position and facilitates faster product development in the rapidly growing market for fingerprint sensors, as well as software development aimed at supporting a handful of different mobile operating systems. The interest aroused by our line sensors in the past quarter has strengthened our opinion that the integration of fingerprint sensors in mobile phones for personal verification, navigation and safe payment is heading for a global breakthrough.”
Carnegie Investment Bank served as financial advisor in connection with private placement.
Fingerprint Cards AB (FPC) develops, produces and markets biometric components that through analysis and matching of an individual’s unique fingerprint verify the person’s identity. The technology consists of biometric sensors, processors, algorithms and modules that can be used separately or in combination with each other. The competitive advantages offered by FPC’s technology include unique image quality, extreme robustness, low power consumption and complete biometric systems. With these advantages and the ability to achieve extremely low manufacturing costs, the technology can be implemented in volume products, such as smart cards and mobile telephones, where extremely rigorous demands are placed on such characteristics. FPC’s technology (fingerprints.com) can also be used in IT and Internet products for security and access control. Fingerprint Cards AB (FPC) is listed on Nasdaq OMX Stockholm (FING B) and has its head office in Gothenburg, Sweden.
For further information contact:
Fingerprint Cards AB (publ), Box 2412, SE-403 16 Gothenburg, Sweden.
Publication pursuant to Swedish legislation: Fingerprint Cards AB (publ) discloses this information pursuant to the Securities Market Act (2007:528) and/or the Financial Instruments Trading Act (1991:980).