Audientes – Rights issue and presentation of Q1 2024

Audientes aim to raise DKK 4.9 million through an upcoming rights issue for existing shareholders. Furthermore, the company will deliver results on May 23rd.

We will host an event on May 28, 2024, at 15.30 with CEO Steen Thygesen, where he will go through the details of the rights issue, the purpose of the capital raise, and provide an update on the financial and business performance in the first part of 2024.

The proceeds from the rights issue are expected to be primarily used for market entry into the Japanese and Chinese markets, continued support for existing markets in India and Nepal, as well as the development of new product generations and styles.

The rights issue is with preferred rights for existing shareholders. Each shareholder will receive two subscription rights per existing Audientes share. One subscription right is required to subscribe to a new share. The offer price for the new shares will be DKK 0.035.

The current management and several major shareholders have guaranteed approximately 26% of the emission, equivalent to DKK 1.3 million. An issuer memorandum will be published on May 16, 2024, and the last trading day for shares including subscription rights is May 16, 2024. From May 17 onwards, the shares will be traded without accompanying subscription rights. The subscription period runs from May 22 to June 4, 2024.

Disclaimer: HC Andersen Capital receives payment from Audientes for a Corporate Visibility/Digital IR subscription agreement. /Michael Friis 13.39, 16 May 2024.