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All updates December 27, 2022

Exeger secures a further SEK 400 million through directed share issues

Exeger, the Swedish deep tech company that produces Powerfoyle®, today announces it has finalized its 2022 fund raising by securing a further SEK 400 million.

The Board of Directors has passed decisions to issue 3,096,365 new series B common shares. The shares are issued at a price of SEK 110 per share whereby the company will receive gross proceeds of approximately SEK 340.6 million.

The new shares are issued to both new and existing shareholders. Neudi Kapital AB, SEB Investment Management and Santhe Dahl Invest AB are welcomed as new shareholders while Stena Sessan AB and AMF Tjänstepension AB increase their ownership. The funds will be used for continued roll-out of the Powerfoyle® technology and capacity investments to enable further production ramp-up. Through this share issue combined with previous share issues during the year, Exeger has raised a total of approximately SEK 559.9 million against the issuing of 4,466,678 new series B common shares.

In addition to the above, Exeger has received a further SEK 59.4 million of investor commitments at a price of SEK 110 per share, including the Founder and CEO of Exeger, Giovanni Fili. A share issue to Giovanni Fili is subject to the so-called Leo Act (Chapter 16 of the Swedish Companies Act) and has to be resolved by an extraordinary general meeting to be held in January 2023. The notice to the extra general meeting will be published separately.

Giovanni Fili explains, “We have raised funds during 2022 despite a challenging market climate. The support from both new and existing investors is a testament to the strength and potential of our technology and business, and I am thankful for their support. The funds raised allow us to execute on our plan to make Powerfoyle a new standard and continue our global roll-out in both existing and new market segments. The team and I will continue to work tirelessly to grow Exeger into one of Sweden’s industrial powerhouses.”

ABG Sundal Collier acted as Sole Global Coordinator and Joint Bookrunner. Swedbank acted as Joint Bookrunner to Exeger in the directed share issues.