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Exercise of the over-allotment option in the IPO of eEducation Albert AB (publ) and end of the stabilisation period


Skandinaviska Enskilda Banken AB (”SEB”) exercises the over-allotment option regarding 703,527 shares in eEducation Albert AB (publ) (”Albert” or the “Company”). The stabilisation period has now ended in advance and no further stabilisation actions will be carried out.

As announced on 21 September 2021 in connection with the listing of the Company's shares on Nasdaq First North Growth Market (“First North”) and the new issue of shares in (the “Offering”), SEB, in its capacity as stabilisation manager, has had the opportunity to carry out transactions in the Company's share in order to support the market price at a level higher than that which might otherwise have prevailed in the market.

To cover any over-allotments in the Offering, the Company granted SEB an over-allotment of up to an additional 704,081 shares (corresponding to approximately 15 percent of the total number of shares in the Offering prior to any over-allotments) (the “Over-allotment option”).

Stabilisation transactions have been possible on First North, in the over-the-counter market or otherwise, at any time from the first day of trading in the shares on First North, i.e. 1 October 2021, and for no longer than 30 calendar days thereafter. SEB, however, was not required to undertake any stabilisation and there was no assurance that stabilisation would be undertaken. In total, SEB has purchased 554 shares for the purposes of stabilisation, corresponding to c. 0.1 percent of the Over-allotment Option in total.

As a consequence of SEB exercising the Over-allotment option, the board of directors of Albert has resolved to issue 703,527 shares at a price corresponding to the issue price in the Offering (SEK 49 per share). The exercise of the Over-allotment option means that a total of 5,397,405 newly issued shares have been sold in the Offering, corresponding to approximately 31 percent of the shares in Albert after the completion of the Offering. Albert will thereby be provided with additionally approximately SEK 34 million, which means that the Company has been provided with, approximately SEK 264 million in total as a result of the Offering, before transaction costs. After the shares in the Over-allotment option have been registered with the Swedish Companies Registration Office, the total number of outstanding shares in Albert will amount to 17,579,655.

In connection with the Offering, SEB borrowed 704,081 existing shares in the Company from Schibsted ASA in order to ensure delivery of all over-allotted shares in the Offering. Due to the exercise of the Over-allotment option, all borrowed shares will be returned to Schibsted ASA.

SEB has, in its capacity as stabilisation manager, notified that stabilisation measures have been undertaken, in accordance with article 5(4) in the Market Abuse Regulation 596/2014, on First North as specified below. The contact person at SEB is Alexandra Gluckmann (tel: +46 70 767 67 34).

Stabilisation information

Issuer:eEducation Albert AB (publ)
Instrument:Shares (SE0016797989)
Offering size:4,693,878 shares (excl. the Over-Allotment Option)
Offering price:SEK 49
Market:Nasdaq First North Growth Market
Stabilisation manager:Skandinaviska Enskilda Banken AB

Executed stabilisation transactions

DateQuantityPrice (lowest)Price (highest)Price (volume weighted average)CurrencyTrading venue
2021-10-0555449.0049.0049.00SEKFirst North

This information is information that eEducation Albert AB is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact persons set out below, at 08:00 CET on 28 October 2021.

For additional information, please contact:

Arta Mandegari, CEO and Co-founder
Mobile: +46 (0)72 309 64 94

Salman Eskandari, Deputy CEO and Co-founder
Mobile: +46 (0)70 727 93 75

Martin Dahlgren, Head of Finance
Mobile: +46 (0)73 909 26 31

Important information

This announcement is not and does not form a part of any offer for sale of securities in Albert.

Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Canada, Japan or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. This announcement does not constitute an offer for sale or purchase of securities in the United States. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any offering in the United States or to conduct a public offering of securities in the United States.

The securities described herein have also not been and will not be registered under the applicable securities laws of Australia, Canada or Japan and, subject to certain exemptions, may not be offered or sold in or into or for the account or benefit of any person having a registered address in, or located or resident in Australia, Canada or Japan. There will be no public offering of the securities described herein in Australia, Canada or Japan.

Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (together with any related implementing and delegated regulations, the “Prospectus Regulation”). Investors should not invest in any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus.

In any EEA Member State other than Sweden and the United Kingdom, this communication is only addressed to and is only directed at qualified investors in that Member State and the United Kingdom within the meaning of the Prospectus Regulation, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State or the United Kingdom.

This communication is only being distributed to and is only directed at persons in the United Kingdom that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “Relevant Persons”). This communication must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.

Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “will,” “may,” “continue”, “should” and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm or release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement.

In connection with the offer or sale of securities referred to herein, the financial advisor engaged by the Company may over-allot securities/conduct stabilisation or effect transactions with a view to supporting the market price of the securities at a level higher than that which might otherwise prevail. Any stabilisation action or over-allotment will be conducted by the financial advisor in accordance with all applicable laws and rules.

About Us

Albert is the children's digital teacher, who since the start in 2016 has helped over 275,000 families with homework via mobile devices. Albert's apps are aimed at younger (3-9 years) and older children (10-16 years) and include subjects such as Mathematics, Geography, Code and Reading & Writing. Albert was founded in 2016 by two friends in Gothenburg with a clear goal - to democratize knowledge through technology - and that is what drives us even today. ...

Författare MFN