By Stephanie N. Rotondo
Seattle, Dec. 5 – Anoto Group AB sold SEK 42 million of 0% senior unsecured convertible bonds due Dec. 5, 2018, the company said in a press release on Monday.
The convertibles have an initial conversion price of SEK 0.135.
The company facilitated the deal without an investment bank or broker.
Nerthus Investments Ltd. subscribed for SEK 27 million of the convertibles. Inhye Kim, wife of Joonhee Won, the company’s chief executive officer and board member, subscribed for SEK 9.2 million of the securities. That purchase, however, must be approved by the company’s shareholders at an upcoming general meeting.
If approved, Kim’s purchase will be made through a set-off against part of a SEK 15.5 million short term loan Kim made to the company.
Bonds are redeemable at par.
Proceeds will be used to support future business operations.
Anoto is a Lund, Sweden-based technology company that develops and licenses digital pens.
| Issuer: | Anoto Group AB
|
| Securities: | Senior unsecured convertible bonds
|
| Amount: | SEK 42 million
|
| Maturity: | Dec. 5, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Conversion price: | SEK 0.135
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 5
|
| Distribution: | Regulation S
|
| Talk: | 0%, with a conversion price of SEK 0.135
|
| Stock symbol: | STO: ANOT
|
| Stock price: | SEK 0.16
|
| Market capitalization: | SEK 372.19 million
|
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