Vator Securities facilitates underwriting for issuers in the Nordic capital markets and works closely with corporate finance advisors and investors to create sustainable solutions.
When a company undertakes a capital raise, there is often a need for a clear and professional underwriting structure. Vator Securities can act as underwriter vis-à-vis the issuer while applying a model where risk is transferred to external investors through separate agreements with Vator Securities.
This creates a clear allocation of responsibilities between issuer, underwriter, and investors, enabling underwriting solutions to be executed in a structured and sustainable manner.
Vator Securities enters into an underwriting commitment with the issuer
Vator Securities may, within the scope of its licenses, enter into an underwriting commitment and assume direct responsibility under the underwriting agreement.
Risk is transferred through separate agreements
In parallel, separate option agreements are structured with external investors, allowing Vator Securities to transfer the risk arising if the underwriting is called.
Equal treatment of counterparties
If Vator Securities exercises the put options, this is done proportionally among counterparties based on their respective commitments, ensuring equal treatment.
For issuers, this model consolidates the underwriting commitment with a professional and licensed counterparty, providing clearer structure, a defined counterparty relationship, and better conditions for orderly execution.
Vator Securities works closely with corporate finance advisors requiring a licensed and experienced partner in underwriting.
The downstream process can be structured in different ways. In some cases, it is led by the advisor, in others by Vator Securities, and often through collaboration. The optimal structure depends on the transaction, the issuer, and the investor base.
Investors do not act as underwriters vis-à-vis the issuer, but as counterparties to Vator Securities through separate option agreements.
This creates a clear structure where the investor’s role and financial exposure are defined in advance. It is important to note that this entails a real financial commitment, and investors must be able to fulfill their obligations if the option is exercised.
• Specialized focus
• Appropriate licensing
• Experience in underwriting structures
• Clear multi-party collaboration model
• Focus on execution quality and risk transfer
We welcome discussions with issuers, corporate finance advisors, and investors on how underwriting solutions can be structured in a professional and sustainable way. Please reach out to us by phone at +46 8 5333 2737 or through email at info@vatorsec.se.