SolTech Energy’s new stock issue oversubscribed - March 4, 2014

On January 9, 2014, the board of directors of SolTech Energy decided – in accord with the authority granted at the annual stockholders meeting of June 24, 2013 – to carry out a new stock issue for a maximum sum of 12,500,000 Swedish crowns (roughly €1,350,000) for the purpose of ensuring the capital necessary for continued expansion.

The new stock issue was directed to the general public for the purpose of taking in working capital, as well as to further spread the Company’s ownership before being listed on Nasdaq/OMX, First North, during the fall of 2014. The new stock issue was carried out during the period of February 5 – 9, 2014, and brought in approximately 14.8 MSEK before deducting new stock issue costs, which corresponds to a subscription rate of 118%. Interest in the subscription was strong and the Company, as of the subscription’s close, was provided with an additional 600 shareholders, increasing the Company’s total number of shareholders to approximately 2,700.

Allotment of the new issue was carried out on the basis of when the respective notification reports arrived. The Company’s board of directors has, within the authority granted at the 2013 annual stockholders meeting, decided to also invite the 133 subscribers who constitute the oversubscription to take part in a new directed issue of the Company’s stock. This directed new stock issue will be for 285,924 shares, total, for a corresponding sum of 2,287,392 SEK, and will take place subject to the same conditions as the original offer.

”SolTech finds itself in a very expansive phase with good market acceptance and strong interest for its products, both in Scandinavia and abroad. It is, however, particularly heartening that we are seeing such strong interest for our unique fine-film solar cells in our homeland so soon after their introduction”, reveals CEO Frederic Telander in a report.

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