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About the transaction

Through the directed issue, Precise will raise proceeds of SEK 23 million before issue expenses. The price for the shares in the directed issue was determined through an accelerated book building procedure managed by Vator Securities. The price corresponds to a discount of approximately 15 percent compared to the closing price for the share on Nasdaq Stockholm on 29 November 2021. Precise intends to use the net proceeds from the directed issue to finance part of the Company’s acquisition of EastCoast Solutions.

“We are grateful for the support coming from new investors in this directed share issue. With a focus on SaaS-growth, innovation and convenient and secure biometric identification, we are looking forward to the continued journey together with EastCoast Solutions and our new shareholders”, said Precise’s Chairman of the Board Torgny Hellström.

Press release

About Precise Biometrics

Precise Biometrics is a global identification software provider, offering products with a range of application for identification in a convenient and secure way. Precise offers products with various applications that enable individuals to identify themselves by using biometrics. Precise Biometrics operates through two product areas: Digital Identity, which enable identification for physical access through biometrics (e.g., fingerprints, heart rate, facial and iris recognition) and Algo Software systems which is a leading embedded software for fingerprint recognition meeting various needs in smartphones, smart-lock door handles, and various applications in cars.

The Case

  • Growing digitalization requiring increased security – a growing ecosystem of digital ID’s; Digital identity enables identifications through biometrics
  • Business area for Digital Identity (YOUNiQ) started 2019, >60 installations globally across several industries implying significant upside potential. Business area Digital Identity operates through a SaaS revenue-model, simplifying on boarding and integration for costumers
  • Precises´ other business area: Algo Software system started 1997, making Precise one of the front runners with algorithms for fingerprint recognition implemented in over 70 million smartphones, providing over 100,000 verifications every second using Precise Biometrics´ algorithm
  • Intending to launch Buy-and-Build strategy to expand Precis Biometrics´ addressable market by adding proven technology and domain expertise in new verticals

Precise Biometrics website

 

Directed Issue

 

 

SEK 23 Million

November 2021

Sole Bookrunner