Minesto Rights Offering Subscription Period Begins

Swedish marine energy developer Minesto has initiated the subscription period for new issue of units with pre-emptive rights for existing shareholders.

The subscription period runs from December 4 to 18, 2019.

Shareholders in the company who were listed in the share register kept by Euroclear Sweden AB as of the record date on December 2, 2019 receive one subscription right for each share held in Minesto.

The subscription price is SEK 14.12 per unit.

One unit contains one share and one warrant for subscription of shares in the company no later than 30 April 2021.

The subscription price for warrants of series TO3, included in the rights issue unit, has been reset to SEK 16.20 per share.

“The rights issue amounts to around SEK 85.9 million and gives shareholders the opportunity to participate on the same terms as the private placement in October.

In addition to that, the rights issue will give us the opportunity to initiate more customer collaborations and installation projects, preferably within the frameworks for the vast availability of public financing which is being launched from 2020 and onwards, focusing on renewable energy and innovation linked to the marine environment,” said Martin Edlund, Minesto CEO .