Increased institutional ownership in Upsales

A number of Swedish and international investors, including Herald Investment Trust, Nordea Småbolag Sverige and TIN Fonder, buys a total of 1,245,000 shares of Upsales (the “Placing”). The acquisition has been made possible by Upsales' CEO and founder Daniel Wikberg selling the equivalent of approximately 7 percent of the company. After the transaction, Daniel Wikberg will hold approximately 42 percent of the company's shares and votes, for which he has entered a customary lock-up with the Manager for a period of 90 days. The Placing was priced at SEK 73 per share, corresponding to approximately a 2 percent discount to the closing price on 20 February 2023, and amounted to approximately SEK 91 million. 
 
“I am grateful for the trust and strong interest in Upsales from well-reputed institutional investors. We appreciate the support from new and existing shareholders being part of our journey of building the best sales and marketing tool in the world.” says Daniel Wikberg, CEO & Founder.
 
Pareto Securities acted as Sole Manager and Bookrunner in connection with the Placing.