Issue of new shares May 2020

Issue of new shares May 2020

Flexiwaggon AB (publ) (“Flexiwaggon” or “the Company”) announces today the 25th of May 2020 the issue of no more than 71 550 Series A shares with disapplication of the shareholders’ preferential rights, with authorization from the annual general meeting the 2nd of December 2019, aimed towards both current shareholders and new investors. Upon full subscription, Flexiwaggon will receive proceeds amounting to 10 017 000 SEK.

Flexiwaggon is nearing its completion of the second generation’s wagon. Thanks to a limited organization size, the Company has kept costs low during an extensive development cycle and are now ready to build a more efficient organization as they enter the commercialization phase. Testing and certification of the wagon is estimated to be completed during the fall with the next step to perform demonstrations on site together with national and international stakeholders. 

In the interim, Flexiwaggon is currently working on launching a joint venture in the US with Northern American partners, focusing on a pilot project in the Port of Long Beach in LA. 

We are closely monitoring the development of the market and feel confident that no other solution is close to Flexiwaggon in terms of efficiency and flexibility”, says Jan Eriksson, CEO.

The purpose of this issue of shares is to fund a sales organisation as well as the final construction and testing of the next generation’s rolling highway wagon. 

Summary of terms

  • Subscription period: 25th May – 30th June 2020
  • Subscription price: 140 SEK per share (issued in blocks of 150 shares)
  • Scope: The Offer comprises a maximum of 71 550 Series A shares, corresponding to 10 017 000 SEK
  • Valuation: The total number of shares before this issue is 1 152 123.
  • The company is currently not listed on a stock exchange and is planning to carry out an IPO in the future.

An investor memorandum and subscription forms are available in Swedish on https://www.flexiwaggon.se/issue-2020/

About Flexiwaggon

Flexiwaggon is a Swedish company with a vision to revolutionize freight transport worldwide by moving traffic from the highway to the railway. The solution is a railway wagon which trucks and other vehicles can be transported on. The concept of transporting trucks on the railway is called rolling highway and has been successfully established on the market in several countries. Flexiwaggon will enter the market with a clear competitive edge through unique solutions such as efficient loading and unloading of the vehicles, power generation, and minimal infrastructural requirements. Flexiwaggon enables financial advantages in the logistics industry and contributes to sustainable freight transportation.

Contact

Jan Eriksson, Chief Executive Officer
[email protected]
+46 70 564 50 18

 

Facebook Linkedin Twitter