Share issue in Ripasso Energy fully subscribed

By , in PR PR World on .

The subscription period for the share issue in Ripasso Energy AB (publ) closed on 15 December 2017. The share issue’s subscription rate was approximately 121 %.  The issue was approximately 98.7 % subscribed for with preferential rights, with the remainder subscribed for without such rights. Through the issue, the company will raise approximately SEK 91.7 million before issue costs.

“The capital we have raised will be used to successfully deliver our first PWR BLOK order, to cut the engine cost in half, and to build a strong organisation that is ready to sell and deliver considerably higher volumes, and at a good profit too,” says Sven Sahle, Ripasso Energy AB’s Chairman of the Board and largest shareholder.

The final day of trading in paid-up subscribed shares on the NGM Nordic MTF is expected to be in week 2 of 2018. Shares are expected to begin trading on the NGM Nordic MTF around week 3 of 2018.

The number of shares in the company will increase by 18,347,312 shares to a total of 79,505,021 shares, resulting in shareholder dilution of approximately 23 percent.

With the closing of the share issue, the rate of conversion for the company’s convertible bond will be recalculated, in accordance with its terms and conditions. The new rate of conversion amounts to SEK 4.50

The law firm of Törngren Magnell KB acted as the company's legal advisor in connection with the share issue, while Eminova Fondkommission AB served as the issuer.

For additional information related to this press release, please contact Ripasso Energy’s Chairman of the Board Sven Sahle at  [email protected] . For additional information about the company, please visit  www.ripassoenergy.com . You can also sign up for the company’s newsletter on the website. 

Ripasso Energy is a Swedish cleantech company founded in 2008 to further develop the Stirling technology’s outstanding ability to convert heat energy into electricity. The company offers different solutions for power generation at record low prices, compared to other climate-smart and sustainable alternatives. Ripasso Energy’s Stirling engine has unofficial world record in converting solar energy to electricity with close to twice as high efficiency as competitive technologies. The company is listed in Sweden (NGM Nordic MTF), and can also be traded at Börse Stuttgart in Germany. Read more at www.ripassoenergy.com .

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Sarah Thompson

Sarah Thompson

Sarah is a financial reporter, focusing on technology, national security, and policing. Before joining Daily Telescope she worked as a staff writer at Fast Company and spent two years as a foreign correspondent in Turkey. Her work has been published in Al Jazeera America, The Nation, Vice News, Motherboard, and many other outlets.
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