RESQUNIT AB completes a directed private placement of SEK 3.75 million to the institutional investors DSD AS and MIF Marine Invest with a subscription share price of SEK 4.50

The Board of Directors of Resqunit AB (publ) ("Resqunit" or the "Company") has today, 23 January 2023, authorized by the Annual General Meeting on 9 June 2022, decided on a directed private placement totaling 833 000 shares at a subscription price of SEK 4.50 per share. 700 000 shares have been subscribed for by DSD AS ("DSD") and 133 000 shares have been subscribed for by MIF Marine Invest Fund (together with DSD "Investors"). In total, the Company is added approximately SEK 3.75 million before transaction-related costs through the share issue.

 

The subscription price has been determined through arm's length negotiations with investors and corresponds to a premium of approximately 13 percent compared to the closing price of the Company's share price on the Nasdaq First North Growth Market on January 20, 2023.

 

Institutional investors

 

Both investors are reputable institutional investors with long-term goals of investing in companies committed to sustainable practices that have a positive impact on the environment.

 

"Resqunit's innovative solution to combat ocean pollution immediately caught our interest and we are delighted to have signed this agreement. Ever since DSD was founded in 1855, ocean and maritime investment have been part of our DNA.

 

Our investment philosophy is that we invest in companies with growth potential that work towards more sustainable solutions. With this investment in Resqunit, we are investing in a future-oriented and efficient technology that helps preserve marine ecosystems and ensures that the ocean remains an important and sustainable resource for future generations," says Siv F. Christensen, CFO of DSD.

 

CEO of Resqunit AB, Helge Trettø Olsen says:

 

"We are proud to be extending our ownership with such a reputable investment firm as DSD, and it means a lot to us that they see our potential. The need for sustainable innovations in fisheries is significant."

 

The MIF Marine Invest Fund, which is already a significant and long-term shareholder of Resqunit, has recently shown interest in increasing its stake.

 

"For us, this is a clear sign of confidence in our mission, our team and our long-term goals," continues Resqunit's CEO.

 

"We are definitely a good match and share the same goals with our focus on innovation and environmental responsibility. Having DSD and MIF Marine Invest Fund on board strengthens us in so many ways, including strengthening the company's production and sales capacity."

 

About DSD

 

DSD is a Norwegian and Stavanger-based investment company owned by the Hermansen family that invests in four sectors: Ocean, mobility, tourism and health. DSD invests in people and works with companies that explore and develop solutions for the future. Central to the company's investment strategy is sustainability, regional development, and active ownership.

 

About MIF Marine Invest Fund

 

MIF Marine Invest Fund is fully dedicated to investing in the shipping and offshore industry. MIF Marine Invest Fund aims to invest in aquaculture, seafood, shipping and offshore energy at its core. They invested in Resqunit before the IPO and have since increased their stake.

 

About the share issue

 

The issue entails an increase in the number of shares in Resqunit of 833 000 shares, from 11 155 295 shares to 11 988 295 shares and an increase in share capital of SEK 41 650,00 from SEK 557 764,75 to SEK 599 414,75. The share issue entails a dilution for Resqunit's existing shareholders of approximately 7 percent. The Board has assessed the possibility of carrying out the issue with preferential rights for the Company's existing shareholders and has, after careful consideration, concluded that such a process would be too costly and time-consuming given the size of the share issue. The Board also considers that the subscription price for which the shares are subscribed, taking into account the prevailing market situation, would have had to have been substantially lower and at a discount to the current share price if the issue had been carried out with preferential rights for existing shareholders. In addition, the Board sees great benefits for the Company by including an additional institutional investor in the ownership base through DSD.

 

Certified Advisor

 

Mangold Fondkommission AB

 

For more information, please contact:

 

Helge Trettø Olsen, CEO, Resqunit AB
Email: [email protected]
Telefon: +47 901 68 908

 

This is information that Resqunit AB (publ) is obliged to disclose in accordance with the EU Market Abuse Regulation (EU No. 596/2014). The information was submitted for publication, through the agency of the contact person indicated above, 23.01.2023, at 08:30 CET

 

About Resqunit AB

 

Resqunit is an ocean technology company that develops innovative equipment to disarm and retrieve lost fishing gear. Through the collection of sensor data and software, the company wants to increase knowledge about the ocean and increase catch predictability. Every year, between 500 000 and 1 000 000 tons of fishing gear disappear at sea, including 25 million fishing pots. A significant part of this consists of plastic, which over time dissolves in microplastic particles and enters the food chain. Lost gear harms fisheries, animal populations and the environment. Resqunit AB (publ) was founded in 2021 as a parent company (listco) with 100% of the shares in the Norwegian subsidiary Resqunit AS, founded in 2017.

 

 

Photo: Siv Christensen (CFO of DSD) and Helge Trettø Olsen (CEO of Resqunit) 

 

For further information, please visit www.resqunit.com