Hittar du inte vad du letar efter? Klicka här för att söka.
Publicerat av Cirio den 13 september, 2019

Cirio advises Tagmaster in its acquisition of Sensys Networks and in its rights issue and directed issue

Cirio acts as legal adviser to TagMaster AB (publ) (“TagMaster”) in its acquisition of Sensys Networks Inc. (“Sensys Networks”) in the US. Cirio also acts as legal adviser in connection with TagMaster’s equity financing of the acquisition.

On 3 May 2019 TagMaster announced that the company had entered into an agreement to acquire Sensys Networks. The purchase price is USD 16 million on a debt free, cash free basis, with an adjustment of net working capital as of the closing date against a normalised net working capital. The acquisition is conditioned upon financing and customary closing conditions and is expected to close during the second quarter of 2019. On the same day the Board of Directors of TagMaster resolved, under the authorisation from the annual general meeting in TagMaster, to increase the company’s share capital by an equity issue with preferential rights for existing shareholders. On full subscription of the rights issue, TagMaster will raise approximately SEK 98 million before issue costs. Furthermore, the Board of Directors resolved on a directed equity issue to new qualified shareholders with deviation from existing shareholders preferential rights amounting to approximately SEK 41 million. The rights issue is guaranteed up to approximately 90 percent, through subscription commitments and guarantee commitments. The motive for the equity issues are primarily to finance the acquisition of Sensys Networks.

TagMaster, established in 1994, is a public company listed on Nasdaq First North and a leading supplier of advanced sensor systems for Smart Cities. For more information regarding TagMaster and Sensys Networks, please visit the companies’ websites, www.tagmaster.com and www.sensysnetworks.com

Cirio advises TagMaster with a team headed by Annika Andersson (Capital Markets and Public M&A) and Anders Moberg (Mergers & Acquisitions) together with Erik SundgrenSofia JohanssonJosephine GejardEmelie Ulff Roth (Mergers & Acquisitions), Oscar LundeMimi Hörnmo and Jesper M Johansson (Capital Markets and Public M&A), Dennis Luttropp Hansson (Banking & Finance), Sanna Wolk, David LefflerJesper Sala and Yousef Chakir (IP/ICT) and Hanna Lekås (Competition).

About Cirio

Cirio Law Firm was founded in Stockholm in 2019 and has around 130 employees. The law firm has a long heritage in Stockholm ranging back to 1918 and is one of the leading law firms within several areas of business law. Cirio offers legal advice in most areas of business law such as M&A and other transactions, operational and strategic business decisions, special situations such as dispute resolution and bankruptcies and collaborative innovation. The firm has special competence within business areas such as renewable energy, life science and digitalisation.

For more information, please contact:

Annika Andersson                                Anders Moberg
Partner                                                                      Partner
annika.andersson@cirio.se          anders.moberg@cirio.se

+46 76 617 09 29                           +46 76 617 08 70

Dela sidan:
Skriv ut: