Precise Biometrics completes private placement of shares

December 14, 2016 - 

Precise Biometrics‘ board of directors has resolved to issue 14,925,373 new shares in Precise Biometrics through a private placement directed to a group of qualified Swedish and international investors.

The purpose of the private placement is to finance Precise Biometrics’ ongoing acquisition of NexID Biometrics while maintaining its current financial position.

The subscription price for each new share was set to SEK 3.35 through a book-building procedure. Through the private placement, Precise Biometrics raises SEK 50 million (US$5.46 million) before issue costs. Compared to the closing price on 13 December 2016, the price of the shares issued in the private placement meant a discount of 4.8 per cent.

“There has been a great interest in participating in the private placement and the trust in our company is high. The private placement ensures that we can maintain our financial position, which gives us opportunities to continue to develop the company,” said Håkan Persson, CEO of Precise Biometrics.

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About Stephen Mayhew

Stephen Mayhew is the publisher and co-founder of Biometrics Research Group, Inc.. Connect with Stephen on LinkindIn.