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XMReality conducts a directed share issue of approximately 21 MSEK and announces Investment AB Spiltan as new major shareholder

Press Release   •   Oct 09, 2018 08:00 CEST

Linköping, Sweden—XMReality AB (publ) (NASDAQ First North: XMR), an international leader in AR-enabled knowledge sharing, announces that the Board of Directors of XMReality AB (publ) has today resolved on a directed share issue of 2 442 018 new shares at a subscription price of SEK 8.75 per share, which adds approximately SEK 21 million before transaction costs. The subscription price has been determined by a bookbuilding process and corresponds to a discount of 3% compared to the volume weighted average price over the past 10 trading days. Subscribers in the rights issue are a limited number of qualified and institutional investors, including Handelsbanken Fonder, a small-cap equity fund owned by a leading Swedish pension company and LMK-stiftelsen. The Board's decision is subject to approval by the Extraordinary General Meeting that will be held on October 25, 2018.

For the past year, XMReality has increased its recurring revenue and communicated several orders from new customers as well as additional orders from existing customers. The customer base continues to grow with strategically important customers. In order to capitalize the positive development and ensure that the company can continue to deliver high-quality solutions to the industry, the Board has decided to issue a directed share issue of approximately 21 MSEK. The reason for deviation from shareholders' preferential rights is to strengthen the company's financial position in a timely and cost-effective manner while broadening and strengthening the ownership base.

"It is very satisfying to see that XMReality is gaining increased interest from professional investors and that we strengthen confidence from our existing shareholders. It shows that we are on the right track towards our goals. I also want to take this opportunity to welcome Investment AB Spiltan as the largest shareholder of the company. With the new capital we can actively expand our sales efforts and take advantage of the positive momentum we see in the business." says CEO Johan Castevall.

XMReality has also been informed that the interest for the directed share issue was significant and that investor Investment AB Spiltan has acquired Almi Invest Östra Mellansverige AB's shares in a separate block trade at the same price as the share issue, thus becoming the Company's largest owner with 2,031,946 shares corresponding to approximately 14% of the capital and votes per today.

"XMReality has taken an exciting position in the market with its AR-based Remote Guidance solution. Since the listing, the company has further strengthened the team and is constantly building on an already strong customer base. The use of AR in the industrial sector is developing positively and we see great potential in other sectors with existing and new customers. We are looking forward to be a long-term shareholder and closely following the company's future development, "says Björn Persson, Investment Manager at Investment AB Spiltan.

"It is very pleasing that Almi Invest was included as one of the first external investors in this company. During our holding period, the company has become the market leader in remote guidance, with its AR-based technology that helps industrial companies solve complex problems at a distance. We wish XMReality all the best in the future, while this exit will facilitate investments in new Swedish startups in accordance with Almi Invest's overall mission, "says Jenny Engerfelt, Fund Manager Almi Invest

The Board's decision on the directed share issue is subject to approval by the Extraordinary General Meeting that will be held on October 25, 2018. Shareholders representing about 54 percent of the company's votes and capital has announced that they support the decision of the Board and will vote in favor of approve the decision at the Extraordinary General Meeting. Notice of the Extraordinary General Meeting is published by a separate press release.

Through the rights issue, XMReality's share capital increases by SEK 122,100.90 from SEK 730,399.10 to 852,500 and the number of shares increases by 2,442,018 from 14,607,982 shares to 17,050,000 shares. The rights issue will dilute XMReality's existing shareholders by approximately 14 percent after the issue of new shares.


Advisers

Redeye AB acted as sole financial adviser and law firm Lindahl KB acted as legal adviser in connection with the transaction.


For more information, please contact:

Claes Nylander, Chairman XMReality
Phone: +46 (0)70 531 34 22

About XMReality Remote Guidance™

XMReality Remote Guidance is an AR-enabled knowledge sharing tool that lets you communicate with gestures, speech, chat, pointers with someone at a completely different place. It includes:

  • A unique hands-overlay technology that lets you guide some else’s hands—as if you were there.
  • A web portal to manage teams and users, and to measure usage
  • Integration through client-side API’s


About XMReality AB

XMReality AB (publ) develops and sells solutions that revolutionize knowledge sharing through augmented reality (AR). The company is a market leader in remote guidance, which uses AR to guide onsite staff so that they can resolve or prevent problems. XMReality’s customers are mainly global industrial companies, including Bosch Rexroth, ABB, Siemens Industrial Turbomachinery, Electrolux, and Bombardier. XMReality is headquartered in Linköping, Sweden, and is listed on Nasdaq First North (ticker: XMR).
www.xmreality.com

The company’s Certified Adviser is Redeye AB

Phone: +46 (0)8 545 013 30

www.redeye.se

The information in this news release is such that XMReality AB (publ) is required to make public in accordance with the Marketing Abuse Regulation issued by the EU. The information has been released by the above-mentioned contact person(s) for publication on Tuesday October 9, 2018 08:00 am.

XMReality AB (publ) develops and sells solutions that revolutionize knowledge sharing through augmented reality (AR). The company is a market leader in remote guidance, which uses AR to guide onsite staff so that they can resolve or prevent problems. XMReality’s customers are mainly global industrial companies, including Bosch Rexroth, Siemens Industrial Turbomachinery, Electrolux, and Bombardier. XMReality is headquartered in Linköping, Sweden, and is listed on Nasdaq First North (ticker: XMR). www.xmreality.com

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