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2020-07-09

Risk Intelligence A/S: Risk Intelligence successfully completes the directed share issue of approx. DKK 2 million through issuance of 714,290 new shares forming part of a DKK 8 million funding package.

CEO Hans Tino Hansen says:

"With the DKK 2 million capital increase Risk Intelligence now secures  a funding package of a total of an 8M DKK providing long-term funding and capital reserves that will enable us to focus on further developing our business following the challenging Q2 with negative impact from COVID-19 and the recent uptake in business and cautious optimism from June and early July. This will be important in securing our targets for H2 and reach a positive EBITDA for the full year and to increase our growth and result through 2021. The funding package has been designed to provide Risk Intelligence to have sufficient capital to support growth and create further value for all shareholders and at the same time minimizes dilution of shares".

The directed share issue

With support from the authorisation granted by the general meeting held on 22 May 2018, the Board of Directors has carried out a directed share issue of 714,290 new shares, through a so called "accelerated book-building" procedure. The reason for the deviation from the shareholders' preferential rights is mainly to strengthen the Company's financial position in a short and cost-effective timeframe. The proceeds from the directed share issue are intended to be used to provide liquidity and long-term funding covering 2020 and 2021. The directed share issue will result in gross proceeds to the Company of DKK 2 million (before transaction related costs).

The new shares will be admitted to trading on Spotlight Stock Market following their issuance and registration. The Company today has a share capital of DKK 838,709 divided between a total number of 8,387,090 shares. The directed issue will entail a dilution for the current shareholders of approximately 7.85 percent calculated by dividing the number of new shares and votes with the total number of shares and votes in the Company after registration of the new shares. Below is a subscription list of investors participating in the directed share issue:

Måns Flodberg       700,008.40 DKK
Johan Biehl       500,001.60 DKK
John Bäck       500,001.60 DKK
Litcap AB       300,000.40 DKK

Long-term loan

Together with the directed issue of shares Risk Intelligence is in the process of finalising a long-term five-year loan from Vækstfonden of DKK 4 million with an interest rate of 5 percent.  The loan will be finalised during July. The existing long-term loan from 2019 amounting to DKK 7 million will be revised and extended to the same five-year loan profile as the new Vækstfonden loan. The long-term funding will be repaid by 1 July 2025.

Credit line

In addition, Risk Intelligence has secured a credit line of DKK 2 million with Danske Bank supported by Vækstfonden in April.

Existing warrants programs with execution period in July 2020 are not expected to be executed with no further cash impact or dilution.

Financial Adviser and Issuing Agent

Sedermera Fondkommission is acting as financial adviser and Nordic Issuing acts as issuing agent in connection with the directed share issue. 

This information is information that Risk Intelligence A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person(s) set out above, on 9 July 2020.

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