Anoto Group AB (publ) (“Anoto”) announced in a press release on 6 April that the loan Anoto received from Swedish investors that was announced in a press release on 10 August 2021 now partially is converted into shares.
Anoto is a publicly held Swedish technology company known globally for innovation in the area of information-rich patterns and the optical recognition of those patterns.
It is a leader in digital writing and drawing solutions, having historically used its proprietary technology to develop smartpens and related software.
These smartpens enrich the daily lives of millions of people around the world. Anoto currently has three main business lines: Livescribe retail, Enterprise Forms and OEM.
The conversion referred to is carried out through an offset issue. The Board of Directors of Anoto has, on the basis of an authorization from the Annual General Meeting held on 30 June 2021, resolved on an offset issue of 6,666,666 shares (the “Offset issue”).
Through the Offset issue, Anoto receives MSEK 5 through set-off before issue costs. The disapplication of the shareholders´ preferential rights are for Anoto to be able fulfill its obligations according to the loan agreement entered into.
The subscription price for the Offset issue is 0.75 SEK per share, which corresponds to the volume-weighted average price (VWAP) of the Anoto share during the last ten trading days before the date of the request of the set-off. Payment shall be made by offsetting claims against Anoto.
All subscribed shares have been allotted. The offset issue has a dilution effect of approximately 2.9 percent of the share capital after dilution by increasing the number of outstanding shares by 6,666,666 from 222,269,336 to 228,936,002.
Anoto also owns Knowledge AI, a leading AI based education solution company, as its majority-controlled subsidiary. Anoto is traded on the Small Cap list of Nasdaq Stockholm under ANOT.
