Kevin Kviblad, CEO of the Company, comments:
“Urb-it operates a business that benefits from several trends in the climate segment, and we note increasing volumes and improved margins. In today’s stock market climate, it is not entirely easy to finance businesses that do not yet show profit. For this reason, it is gratifying that we have been able to carry out a directed share issue, in which six of the current shareholders participate, something that we have considered to be the most cost-effective way to solve the financing.”
Urb-it AB operates in the logistics sector and provides parcel delivery services. Customers can be found in a number of sectors, with a main focus on the e-commerce market. The business is operated through several subsidiaries in France and Great Britain.
- Urb-it carries out a directed share issue of approximately SEK 23.3 million, corresponding to 8,475,000 shares and a subscription price of SEK 2.75 per share.
- The subscription price of SEK 2.75 per share corresponds to a discount of approximately 8.9 per cent compared to the volume-weighted average price for the company’s share on Nasdaq First North Growth Market during the last ten trading days and a discount of approximately 8.9 per cent compared to the closing price for the company’s share on September 26, 2022.
- The share issue was directed to a pre-committed circle of existing investors, including Fjärde AP-fonden, Handelsbanken Fonder and Skandia.
- The proceeds from the share issue are primarily intended to be used to strengthen the working capital.