NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND OR ANY OTHER JURISDICTION WHERE THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE SEE THE IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.
CEO, Morten von Krogh comments:
"We are pleased and humbled by the great interest in our IPO. Being oversubscribed in a period where the stock market reflects great uncertainty is quite an achievement and clearly suggests that investors understand the long-term value of sustainable mobility.
This IPO and the upcoming listing on Nasdaq First North marks the starting point for further growth and expansion for the group in the Nordics and Europe."
The Offering was oversubscribed, which means that 4,800,000 shares and 4,800,000 warrants of series TO1 are issued. The Company will thus receive approximately SEK 45.1 million in issue proceeds before issue costs. The warrants of series TO1 can provide the Company with a maximum of approximately SEK 56.4 million.
The over-allotment option has not been exercised and no stabilization measures will be executed.
As a result of the significant interest, not all subscribers have received full allocation. Allotment of units, subscribed under the Offering, is made in accordance with the principles set out in the EU Growth Prospectus published on 1 February 2022 and is available on the Company's website, www.moveaboutgroup.com. The subscribers who have received allocation through subscription via nominee will receive notification of allocation via their respective nominee. As soon as the issue has been registered with the Swedish Companies Registration Office, warrants of series TO1 will be delivered to custody accounts or securities accounts. Settlement notes are scheduled to be sent indicatively on February 17, 2022.
Shares and share capital
After the registration of all shares and warrants in the Offering, the number of shares in the Company will increase by 4,800,000 shares, from 20,127,100 to 24,927,100. The number of warrants of series TO1 will amount to 4,800,000. The share capital of the Company will increase by SEK 120,000 from SEK 503,177.50 to SEK 623,177.50. If all warrants of series TO1 are exercised, 4,800,000 new shares will be issued and the Company's share capital will thus increase by SEK 120,000.
The settlement date for the issue is 21 February 2022.
The first day of trading in the Company's share on Nasdaq First North Growth Market is scheduled for February 23, 2022.
The warrants in the Offering will be issued to the holder when the issue is registered with the Swedish Companies Registration Office. The Company will apply for admission to trading of the warrants in connection with the registration and the first day of trading will be announced through a separate press release.
Mangold Fondkommission AB is the financial advisor and Eversheds Sutherland Advokatbyrå is the legal advisor to the Company in connection with the Offering.
For additional information
Morten von Krogh, CEO, Move About
+47 971 94 931
Mangold Fondkommission AB is the Company's Certified Adviser and can be reached by phone, 08-5030 1550, and via e-mail, firstname.lastname@example.org.
Move About Group AB in brief
Move About offers app-based, environment friendly, and cost-efficient mobility solutions to individuals, businesses, municipalities, and organizations. The Company has developed and owns all immaterial rights to the cloud-based green tech platform which gives digital access to electric cars, electric bikes, taxi, subway, and parking, all through the same app - around the clock. Every kilometer the user travels with the electric cars via the platform reduces CO2emissions.
The Company's extensive mobility solutions is built upon the Move About-app which gives the user access to the Company's pools of electric cars, bikes, and scooters. Move About also assists companies, municipalities, and organizations to optimize their vehicle fleets by tailoring mobility solutions based on needs. Move About was founded in Oslo, Norway, 2007 and has over 58,500 users today on their platform, and over 730 electric cars in the Company's vehicle fleet with presence in Sweden, Norway, and Germany.