Anoto raises additional USD 1.7 million on a sale of 1.7 million shares of Knowledge AI to improve financial stability and prolongs the subscription period in the ongoing rights issue until and including 2 June 2023
24 May 2023 - 4:00PM
Anoto raises additional USD 1.7 million on a sale of 1.7 million
shares of Knowledge AI to improve financial stability and prolongs
the subscription period in the ongoing rights issue until and
including 2 June 2023
Stockholm, 24 May 2023 – Anoto Group AB
(publ) (“Anoto”) announces that it has sold 1.7
million shares of common stock of its education subsidiary
Knowledge AI Holdingts Ltd. (”KAIT”). The
transaction was done at a value of USD 12 million on a fully
diluted basis. After the sale, Anoto will still own 5.3 million
shares of KAIT (58.8% on outstanding number of shares and 44.1% on
a fully diluted basis). The 1.7 million shares were sold to a group
of 15 investors ranging from Venture capital companies to
individual investors based in Europe.
“In addition to 40 million SEK raise through a directed issue
and a the ongoing rights offering, Anoto has raised an additional
USD 1.7 million and the proceeds will be used to improve financial
stability and procurement of components. The valuation of USD 12
million for KAIT proves its future potential despite a tough market
condition,” says Joonhee Won, CEO of Anoto Group AB.
The board has decided to prolong the subscription period in the
current rights issue until and including 2 June 2023. As a result
of the above, a supplementary prospectus will be published on or
around 26 May 2023.
For further information, please contact:
Joonhee Won, CEO, Anoto Group AB (publ)
For more information about Anoto, please visit
www.anoto.com or email ir@anoto.com
Anoto Group AB (publ), Reg.No. 556532-3929, Flaggan 1165, SE-116
74 Stockholm
This information constitutes inside information as Anoto Group
AB (publ) is obliged to disclose under the EU Market Abuse
Regulation 596/2014. The information was provided by the contact
person above for publication 24 May 2023 at 08:00 CEST.
About Anoto Group
Anoto is a publicly held Swedish technology
company known globally for innovation in the area of
information-rich patterns and the optical recognition of those
patterns. It is a leader in digital writing and drawing solutions,
having historically used its proprietary technology to develop
smartpens and related software. These smartpens enrich the daily
lives of millions of people around the world. Anoto currently has
three main business lines: Livescribe retail, Enterprise Forms and
OEM. Anoto also owns Knowledge AI, a leading AI based education
solution company, as its majority-controlled subsidiary. Anoto is
traded on the Small Cap list of Nasdaq Stockholm under ANOT.
Important information
This press release shall be considered
advertisement in accordance with article 2(k) of the Prospectus
Regulation (EU) 2017/1129 (the "Prospectus
Regulation"). This press release is not and should
not be considered a prospectus under the Prospectus Regulation. The
Prospectus has been scrutinized and approved by the Swedish
Financial Supervisory Authority. Such approval shall not be
regarded as an approval of the company or as support for the
securities offered and admitted to trading. The Prospectus contains
a description of the risks and rewards associated with an
investment in the company and potential investors are recommended
to read the Prospectus in its entirety before making an investment
decision. The complete Prospectus has been published and is
available on the Company's website, www.anoto.com and Hagberg &
Aneborn's website. Any potential investment decision should, in
order for an investor to fully understand the potential risks and
benefits associated with the decision to participate in the rights
issue, be made solely on the basis of the information contained in
the Prospectus. Investors are recommended to read the Prospectus in
its entirety. This press release may not be announced, published,
copied, reproduced or distributed, directly or indirectly, in whole
or in part, within or into the United States, Australia, Hong Kong,
Japan, Canada, New Zealand, South Africa, or in any other
jurisdiction where such announcement, publication or distribution
of the information would not comply with applicable laws and
regulations or where such actions are subject to legal restrictions
or would require additional registration or other measures than
what is required under Swedish law. Actions taken in violation of
this instruction may constitute a crime against applicable
securities laws and regulations. No subscription rights, paid
subscribed shares or shares in Anoto have been registered, or will
be registered, under the U.S. Securities Act of 1933, as amended,
or the securities laws of any state or other jurisdiction in the
United States and no subscription rights, paid subscribed shares or
shares may be offered, subscribed for, exercised, pledged, granted,
sold, resold, delivered or otherwise transferred, directly or
indirectly, in or into the United States.
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