Bawat Water Technologies AB resolves on directed share issues of approximately SEK 11.1 million
Bawat Water Technologies AB's board of directors has decided on directed share issues of up to 13,250,243 shares at a price of SEK 0.84 per share. The net proceeds are expected to amount to approximately SEK 10.6 million.
Bawat Water Technologies AB announced on Monday that its board of directors has resolved to issue new shares through a directed share issue. The company plans to issue a maximum of 13,250,243 shares, with each share priced at SEK 0.84. This transaction is expected to raise gross proceeds of approximately SEK 11.1 million before transaction costs.
The purpose of the directed share issue is to raise capital to strengthen the company's working capital. The funds will be used to support Bawat's ongoing operations and future growth initiatives. The share issue is directed towards one or more investors and will be carried out without preferential rights for existing shareholders.
Bawat Water Technologies AB focuses on developing and commercializing technologies for water treatment and recycling. The company aims to provide efficient and sustainable solutions for water management. The capital raised is intended to help Bawat continue its growth strategy and enhance its market position in the water technology sector.