As the board of FRISQ didn’t receive a signed and binding share transfer agreement from
The directed issue has been closed and comprises 18 150 000 shares at the issue price of one
During the spring, the board will carry out the second part of the new share issue in the form of a rights issue to all shareholders of approximately 13,8 million shares at the same issue price, one
With these new share issues, the Company is expected to have sufficient financial resources for the rest of 2022. The Board has begun to work together with the management team to adjust costs and focus the commercial work with objective that the Company will be cash flow positive by the end of 2022. This means that current revenues in the Company towards the end of 2022 shall, on average, exceed the estimated monthly costs of an average of approximately
The total number of shares issued in the directed issue and the forthcoming rights issue will total a maximum of approximately 31.9 million shares, which is covered by the authorization provided to the Board mandated by the recently held Extraordinary General Meeting. Given a subscription of a total of 31.9 million shares in the two new issues, the number of shares in the company will increase from 47,954,773 to 79,854,773. The shares issued in the directed issue and the rights issue will constitute approximately 40 percent of the shares in the Company.
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