Dentalum Group AB (“Dentalum” or the “Company”) has, in accordance with the intention announced in Dentalum Operations AB (publ) press release on 22 November 2021, carried out a directed new share issue of 3,736,264 shares, corresponding to approximately SEK 170 million (the “Directed New Share Issue”), to certain investors. The subscription price of the shares in the Directed New Share Issue was set at SEK 45.50 per share. The Directed New Share Issue was substantially oversubscribed.
The Directed New Share Issue
Extraordinary general meeting in Dentalum has on 10 december 2021, in accordance with the intention announced in the Dentalum Operations AB (publ) press release on 22 November 2021, resolved on a directed new share issue of 3,736,264 shares to certain investors, whereof 2,962,229 shares are derived from an issue for cash and 774,035 shares are derived from a set off issue. The subscription price in the Directed New Share Issue was SEK 45.50 and has been determined through a bookbuilding procedure led by Pareto Securities AB (“Pareto Securities”). Through the Directed New Share Issue Dentalum will receive approximately SEK 170 million before deduction of transaction costs. The Directed New Share Issue was substantially oversubscribed.
The Company intends to use the net proceeds from the Directed New Share Issue to finance future acquisitions and general corporate purposes. The reasons for the deviation from the shareholders’ preferential rights is an agreement between the shareholders.
Through the Directed New Share Issue, the number of outstanding shares will increase from 26,400,000 shares to 30,136,264 shares. The Directed New Share Issue entails a dilution of approximately 12.4 percent of the number of shares and votes in the Company based on the number of shares and votes following the Directed New Share Issue.
In connection with the Directed New Share Issue, the Company has undertaken, subject to customary exceptions e.g., M&A activities, not to issue new shares at a valuation lower than for the shares issued in the Directed New Share Issue. The undertaking is valid for three months from the date of settlement of the Directed New Share Issue.
Pareto Securities AB acts as Sole Manager and Bookrunner and Mannheimer Swartling Advokatbyrå AB acts as legal counsel to the Company and Cirio Advokatbyrå AB acts as legal counsel to Pareto Securities in connection with the Directed New Share Issue.
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Dentalum Operations AB (publ) is a fast-growing dental service organisation focusing on acquiring profitable and sustainable dental clinics in the Nordics. Dentalum’s philosophy is built on local heritage, where the clinic owners continue as entrepreneurs operating the clinics with a high degree of independence post-acquisition. Dentalum’s goal is to build a world class organisation by creating a strong corporate culture, positive work environment and growth opportunities which motivate and engage our coworkers to provide the highest quality of care and a remarkable service to our patients. For more information, please visit www.dentalum.com