Irisity’s SEK 130 Million Rights Offering

Vinge has advised Irisity AB on the deal.

Irisity AB has resolved on a directed new share issue of 2,700,000 shares that was performed as an accelerated bookbuilding arranged by Erik Penser Bank.

The subscription price of the shares in the Directed New Share Issue amounts to SEK 49 per share.

Through the Directed New Share Issue, Irisity will receive proceeds amounting to approximately SEK 130 million before deduction of transaction costs. The issue proceeds will be used as part of the financing of the acquisition of Agent Video Intelligence Ltd whilst the remaining purchase price will be paid in newly issued shares in Irisity. A large number of Swedish and international institutional investors, including a mutual fund managed by the Asset Management of German bank Joh. Berenberg, Gossler & Co. KG (Berenberg), Tin Fonder, Handelsbanken Fonder and Lannebo Fonder, participated in the Directed New Share Issue.

Irisity AB is a leader in intelligent camera surveillance. They develop deep learning powered algorithms upgrading both existing and new surveillance cameras and security systems into proactive intelligent devices. IRIS™, the fully cloud based SaaS solution, detect with high precision unwanted activity and behavior at long distances.

Vinge’s team consisted of Anders Strid (Picture), Anna Ståhlklo (M&A), Edin Agic (ECM) and Adrian Filipovic (ECM).

Involved fees earner: Edin Agic – Vinge; Adrian Filipovic – Vinge; Anna Ståhlklo – Vinge; Anders Strid – Vinge;

Law Firms: Vinge;

Clients: Irisity AB;

Federica Tiefenthaler

Author: Federica Tiefenthaler