Adverty receives funding of SEK 36 million before listing on Nasdaq First North

Adverty AB (publ) has during its IPO acquired a distribution of ownership to the required number of shareholders to qualify for a public listing of its share and has received a funding of SEK 36 million for its future expansion.

Adverty AB (publ) (“Adverty”) has during its recent IPO acquired the required number of shareholders, in addition to its existing number of shareholders, to qualify for a public listing of the company’s share at Nasdaq First North. During the IPO period, Adverty has received funding of SEK 36 million, whereas SEK 8 million is subscribed for in the IPO, another SEK 8 million is provided through a convertible note with right for Adverty to enable immediate conversion into shares, and another SEK 20 million which, through the sole discretion of Adverty, can be drawn in so-called tranches of SEK 4 million each upon five events. Upon a draw of a tranche, warrants will be issued to the lender as well as to all other shareholders to reduce dilution.

Board, management and founders have subscribed for SEK 2,5 million in the IPO.

”It is gratifying to recognize the large funding that the company has received, considering the recent market climate which the company has experienced during the rather limited subscription period. It is with great confidence that we are now looking forward to the final approval by Nasdaq First North, as well as enabling the launch of the company’s ambitious growth plans.” says Mr. Niklas Bakos, CEO, Adverty AB (publ).

Adverty has completed the distribution of ownership through its IPO prior to becoming approved for listing of its share at Nasdaq First North, by offering 2 700 000 new shares in the company at a share price of SEK 7.50 per share, equal to a maximum share issue of approximately SEK 20.3 million, gross. The number of shares will through this IPO share issue increase by 1 074 999, from 10 639 951 to reach 11 714 950, upon registration at the Swedish commercial register (Swe: Bolagsverket). The subscription period included in the offering was valid from and through October 1, 2018 until October 16, 2018. In conjunction to the IPO offering, a total of approximately 260 new shareholders was added whereas the company has approximately 300 shareholders prior to the IPO.

Preliminary time plan

Settlement notes sent to those who have received share allocation:                     October 19, 2018

Settlement (payment) date for settlement notes:                                                                           October 23, 2018

Estimated first day of trading on Nasdaq First North:                                             November 1, 2018

Advisers

Mangold Fondkommission AB is financial adviser and law firm Hamilton KB is legal adviser to Adverty in conjunction to the IPO as well as for the public listing of the company’s share at Nasdaq First North, Stockholm. Mangold will act as Certified Adviser to the company.

For additional information, please contact:

Mr. Niklas Bakos, CEO, Adverty AB (publ)

Phone: +46 703 66 96 46

E-mail: nb@adverty.com

Mr. Henrik Sundewall, chairman of the board of directors, Adverty AB (publ)

Phone: +46 768 77 00 00

E-mail: hs@adverty.com

About Adverty 

Adverty, founded in 2016, is an advertising technology company that brings together brands with its consumers at the right time and place, through its groundbreaking platform for immersive VR, AR and mobile experiences. The technology creates a new easy-to-use source for app developers through unobtrusive seamless advertising. More information at www.adverty.com.


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