BIMobject raises SEK 304 million through a directed new issue of 19 million shares

September 02, 2020

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BIMobject AB (ticker: BIM) (“BIMobject” or the “Company”) has today, based on the annual general meeting’s authorisation, resolved on a directed new share issue to selected Swedish and international institutional investors. In total, 19,000,000 new shares were issued at a subscription price of SEK 16 per share. Through the new share issue, the Company will raise SEK 304 million before issue costs.

The directed new share issue
The board of directors of the Company has today, based on the authorisation granted by the annual general meeting on 4 June 2020, resolved on a directed new share issue. The directed new share issue encompasses a total of 19,000,000 new shares where the subscription price, SEK 16 per share, was determined through negotiations with a number of institutional investors.

The Company intends to use the proceeds from the new share issue to primarily accelerate the growth in the number of users and revenue, both organically and through acquisitions.

The new shares in the directed new share issue have been subscribed for by the existing long-term shareholders Swedbank Robur Ny Teknik, Tin Fonder and Joh. Berenberg, Gossler & Co. KG acting on behalf of Universal Investment funds together with the new investors Handelsbanken Fonder, Creades AB and Alcur Fonder.

According to the International Energy Agency, the buildings and construction sector accounts for nearly 40 per cent of the world’s energy-related carbon dioxide emissions. “To become sustainable, construction urgently needs digitalisation - and digitalisation requires BIM. We are grateful to have such high calibre, long-term investors supporting our vision to change the construction industry for a more sustainable and efficient future. BIMobject is aligning with several of the 17 Sustainable Development Goals set by the UN, especially number 9, 11, 12 and 13”, said Carl Silbersky, CEO of BIMobject.

The board of directors’ assessment, based on the negotiations with the investors, is that the subscription price in the directed new share issue has been set on market terms. The board of directors assesses that the flexibility provided by a directed share issue is valuable and that the share issue now resolved upon is the most appropriate alternative for the Company at this time, allowing it to raise capital in a timely and cost-effective manner, with the purpose of financing future acquisitions and to diversify the Company’s shareholder base with Swedish and international institutional long term investors.

Through the directed new share issue, the Company will raise SEK 304 million before issue costs. The Company's share capital will increase by SEK 209,000 from SEK 1,323,516.524 to SEK 1,532,516.524, by the new issue of 19,000,000 shares, resulting in the total number of shares increasing from 120,319,684 shares to 139,319,684 shares. The new share issue results in a dilution of approximately 13.64% percent of the capital and the votes based on the total number of shares and votes in the Company after the new share issue.

In connection with the share issue the Company has agreed to, with customary exceptions, not carry out any additional equity issues for a period of 180 days after the settlement date. In addition, Carl Silbersky (CEO), Alexander Dahlquist (CFO) as well as all board members who are shareholders in the Company have agreed to, with customary exceptions, not sell any shares in the Company for a lock-up period of 180 days after the settlement date.

Advisers

In conjunction with the directed new share issue, the Company has engaged Danske Bank as Sole Bookrunner and Vinge as legal advisor.




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