Commenting on the capital raise and Merkur Market process, André Løvestam, CEO of Zwipe, said:
“These are truly exciting times. Biometric payment cards enabled with Zwipe technology offer consumers the convenience of contactless and the security and peace of mind of biometrics. With a mission of Making Convenience Secure, Zwipe is the first mover and technology leader in our field. We are partnering with global leaders and are well protected with a strong IP portfolio.
We are preparing for a commercial breakthrough for our biometric payment card solution in the second half of 2019 and accelerating growth in 2020 and beyond, both within biometric payment cards, wearables and other form factors and verticals. With a strengthened balance sheet and shareholder base, we will be well positioned to capture the opportunities ahead.”
Zwipe highlights
Financial history
Zwipe is pursuing a growth strategy and has since inception raised a total of NOK 241.3 million (USD 27.6 million) in equity, debt and grants. The capital has been invested in R&D, technology development, IP, organizational expansion, partnerships, operational expansion and other preparations for large-scale commercialisation.
In addition, Zwipe was awarded a NOK 23 million (USD 2.6 million) grant from the European Commission’s Horizon 2020 programme in December 2018. The grant will support Zwipe’s commercial go-to-market ability and will be paid out in tranches over the next 24 months. Horizon 2020 is the largest European Union (EU) Research and Innovation program, aiming to bring innovations faster to the market.
Offering highlights
The offering and subsequent admission to trading will contribute to strengthening Zwipe’s equity and financial position, including repayment of debt, and ensure sufficient funding of the company's planned commercialisation phase and further development of the company's technology.
The offering will consist of two tranches and is expected to raise gross proceeds of up to NOK 120 million (USD 13.7 million) through the issuance of up to 6 million new ordinary shares at a fixed price of NOK 20.00 per share.
The first tranche will be in the form of a private placement offered to large existing shareholders in the company and certain new investors in Norway and Sweden, who have pre-committed to subscribe for a total of 4.5 million shares in the amount of NOK 90 million (USD 10.3million).
Among the investors having provided pre-commitments are member of the board of directors, Lars Windfeldt, who has pre-committed to subscribe for 10.3% of the offering, approximately NOK 12.4 million (USD 1.4million) given a NOK 120 million round. Other members of the board of directors have pre-committed to subscribe for a total of approximately NOK 4.1 million (USD 0.5 million), approximately 3.4% of the offering.
The second tranche, in the amount of up to NOK 30 million (USD 3.4 million), will be in the form of a public offering of up to 1.5 million shares to retail investors. Existing shareholders in Zwipe who have not been allocated offer shares in the private placement will be offered to participate along with new retail investors in the Swedish and Norwegian markets.
All primary insiders in the company have entered into a lock-up agreement with the company, and hence are subject to a lock-up period of six months following completion of the offering.
Preliminary timetable and settlement:
Start of application period: 10 January 2019 at 09:00 hours (CET)
End of application period: 17 January 2019 at 16:30 hours (CET) (may close earlier and on short notice)
Allocation: On or about 17 January 2019
Settlement: Expected on or about 22 January 2019
Delivery and first day of trading: Expected on or about 28 January 2019, not prior to the share capital is registered in the Norwegian Register of Business Enterprises and announced by the company
Note that the timetable is subject to any shortening or extension of the application period and to the conditions outlined below being satisfied.
Completion of the offering is conditional upon the following conditions being satisfied:
(i) The company obtaining admission to trading on Merkur Market,
(ii) Approval of the offering by an extraordinary general meeting expected to be held on or about 18 January 2019,
(iii) The company resolving to consummate the offering and allocate the offer shares, and
(iv) Registration of the share capital increase in the company pertaining to the offering with the Norwegian Register of Business Enterprises.
In addition, completion of the second tranche of 1.5 million shares to retail investors is conditional upon the approval of an EEA prospectus by the Financial Supervisory Authority of Norway (Finanstilsynet).
The offering is being managed by Carnegie AS and Redeye AB as Managers and Joint Bookrunners. In addition, Nordnet (Nordnet Bank AB in Sweden and Nordnet Bank NUF in Norway) is acting as alternative application office and receiving agent for applications for offer shares in the public offering from investors who are not existing shareholders of the company. Investors who are not existing shareholders and who wish to apply for offer shares in the public offering through Nordnet will have to apply for offer shares through their Nordnet accounts. Persons who are not customers of Nordnet will have to apply for an account in Nordnet in order to apply for offer shares in the public offering.
Advokatfirmaet Simonsen Vogt Wiig AS is acting as the company's legal counsel in connection with the offering and admission to trading. Advokatfirmaet Wiersholm AS acts as legal advisor to Carnegie AS in connection with the offering.
Media Contact for Zwipe: Ado Fazlic, VP Marketing, +47 930 44 040, ado@zwipe.com
Important notice
The contents of this announcement have been prepared by, and are the sole responsibility of, the company. The company's financial advisors are acting exclusively for the company and no one else and will not be responsible to anyone other than the company for providing the protections afforded to their respective clients, or for advice in relation to the transactions, the contents of this announcement or any of the matters referred to herein. The transactions and the distribution of this announcement and other information in connection with the transactions may be restricted by law in certain jurisdictions. The company assumes no responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about, and to observe, any such restrictions. This announcement may not be used for, or in connection with, and does not constitute, any offer of securities for sale in the United States or in any other jurisdiction. The transactions have not, and shall not, be made in any jurisdiction or in any circumstances in which such offer or solicitation would be unlawful. This announcement is not for distribution or publication, directly or indirectly, in or into any jurisdiction in which it is unlawful to make any such offer or solicitation to such person or where prior registration or approval is required for that purpose. No steps have been taken or will be taken relating to the transactions in any jurisdiction in which such steps would be required. Neither the publication and/nor delivery of this announcement shall under any circumstances imply that there has been no change in the affairs of the company or that the information contained herein is correct as of any date subsequent to the earlier of the date hereof and any earlier specified date with respect to such information. This announcement is not for publication or distribution, directly or indirectly, in the United States (including its territories and possessions, any state of the United States and the District of Columbia). This announcement does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. The shares to be issued in the transactions have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered or sold in the United States or to, or for the account of, U.S. persons (as such term is defined in Regulation S under the US Securities Act), except pursuant to an effective registration statement under, or an exemption from the registration requirements of, the US Securities Act. All offers and sales outside the United States will be made in reliance on Regulation S under the US Securities Act. There will be no public offer of securities in the United States. This announcement does not constitute an offering circular or prospectus in connection with an offering of securities of the company. Investors must neither accept any offer for, nor acquire, any securities to which this document refers, unless they do so on the basis of the information contained in the investor material made available by the company only to qualified persons in certain jurisdictions where an offer may be made. This announcement does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for, any securities and cannot be relied on for any investment contract or decision. The offering is not being made into Australia, Canada, Hong Kong, the United States or Switzerland.
About Zwipe
Zwipe is a technology solution provider that enables battery-less, ultra-low-power, self-contained biometric authentication solutions. Together with an ecosystem of partners including global brands within security, financial services and ID applications, Zwipe is “Making Convenience Secure™” for banks, merchants and consumers. Using advanced fingerprint recognition while protecting personal information, Zwipe’s solutions address the data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, Zwipe has spent the last 10 years developing its unique power harvesting technology platform in combination with security solutions based on international infrastructure standards.
For more information, visit: www.zwipe.com
OSLO, NORWAY – 15 June 2016– Zwipe, a global leader in biometric identification technologies, today announced the launch of Zwipe Access 2.0. The updated access control product has several key enhancements such as faster authentication, enhanced image and capture capabilities, and reduced false rejection rates. Zwipe Access 2.0 is being launched at IFSEC in London.
“The enhanced features were developed based on market research, customer feedback and industry advancements,” said Bob Fee, Director of Sales, North America.
The Zwipe Access biometric card is compatible with all popular proximity and smart card readers, including those from HID, Allegion and Farpointe. The on-card 3D capacitive fingerprint scanner both captures and matches on the card; enabling users to maintain the security of their own biometric data. At no time is biometric data communicated to any reader, hard drive or external database; giving peace of mind to end-users and card issuers alike.
Zwipe Access cards can be issued to key staff and personnel, or more specifically for certain high-security areas such as server rooms and pharmacies, providing the enhanced security benefits of 2-factor biometric authentication without the need to change existing access control system software or readers. The card can be integrated into a Physical or Logical Access Control system in the same way that present 125kHz Proximity, iCLASS, LEGIC or Mifare cards are incorporated. Through products such as Zwipe Access©, Zwipe ID© and Zwipe Payment©, Zwipe continues to be the industry leader in innovative biometric identification solutions.
OSLO, NORWAY – 2 January 2024 – Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") on 14 December 2023 regarding the final allocation of a rights issue of units, each consisting of one new share in the Company, each with a nominal value of NOK 0.10 and one warrant of series T01, with preferential rights for existing shareholders raising gross proceeds of approximately NOK 35 million (the "Rights Issue").
The share capital pertaining to the Rights Issue has now been registered with the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). The Company's new share capital is NOK 9,930,334.40, divided into 99,303,344 shares, each with a nominal value of NOK 0.10.
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This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book – Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 11:30 on 2 January 2024.
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For further information contact:
Danielle Glenn, CFO and Head of IR, Zwipe
E-mail: ir@zwipe.com
OSLO, NORWAY – 14 DECEMBER 2023 – Reference is made to the stock exchange announcement published by Zwipe AS ("Zwipe" or the "Company") today, 14 December 2023, regarding the final allocation of a rights issue of units, each consisting of one new share in the Company, each with a nominal value of NOK 0.10 and one warrant of series T01, with preferential rights for existing shareholders per unit (the "Units"), with preferential rights for existing shareholders raising gross proceeds of approximately NOK 35.0 million (the "Rights Issue").
Jörgen Lantto, the chair of the board of Zwipe, has today been allocated and thereby validly subscribed for the 1,572,541 Units he over-subscribed in the Rights Issue. Along with the 1,348,145 Units previously subscribed to and reported on 1 December 2023, this brings Mr. Lantto’s total subscription to 2,920,686 Units.
Please see the attached notification for further information.
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This information is subject to the disclosure requirements in the Market Abuse Regulation (EU 596/2014) and the Norwegian Securities Trading Act section 5-12, and is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book – Part II). Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 20:10 on 14 December 2023.
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For further information contact:
Danielle Glenn, CFO and Head of IR, Zwipe
E-mail: ir@zwipe.com
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence. To learn more, visit http://www.zwipe.com.
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IMPORTANT NOTICE
Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Zwipe in any jurisdiction, either from Zwipe or from anyone else.
This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 ("the Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus regarding the Rights Issue described in this press release has been registered with the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) and is kept available at, inter alia, Zwipe AS' website.
This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish and Norwegian law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.
Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Euronext Growth Oslo or Nasdaq First North Growth Market's rules for issuers.
THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO BUY SECURITIES IN ZWIPE AS. SEE ALSO THE SECTION "IMPORTANT INFORMATION" BELOW IN THIS DOCUMENT.
OSLO, NORWAY – 14 DECEMBER 2023 – Reference is made to the stock exchange announcement published by Zwipe AS ("Zwipe" or the "Company") on 14 December 2023, regarding the final allocation of the rights issue of units, each consisting of one new share in the Company, each with a nominal value of NOK 0.10 and one warrant of series T01, with preferential rights for existing shareholders per unit (the "Units"), with preferential rights for existing shareholders raising gross proceeds of approximately NOK 35.0 million (the "Rights Issue"). In said announcement, it was stated that the Company received subscriptions for a total of 24,194,533 Units, corresponding to approx. 41.4% of the Units offered, during the subscription period for the Rights Issue.
Approximately NOK 24.5 million of the Rights Issue was guaranteed through subscription commitments and so-called bottom guarantee commitments. Furthermore, the Company had received a so-called top guarantee commitment of an amount corresponding to approximately NOK 10.5 million. In the event that the top guarantor had to fulfill its top guarantee commitment, the subscription amount was be paid to the Company by the top guarantor subscribing for a convertible loan in the Company (the "Convertible Loan"). The total subscription price for the Convertible Loan would be equivalent to the total subscription price of the Rights Issue, minus the subscription price of the Units subscribed by the existing shareholders of the Company and the Units subscribed by the bottom guarantors. However, the subscription price would not be less than NOK 5.0 million.
Based on the subscription rate of the Rights Issue, the size of the Convertible Loan will be NOK 10,514,472. The Convertible Loan is due on 20 December 2024 (the "Maturity Date") and an interest of 10% p.a. + 3-month STIBOR. The Convertible Loan shall either be repaid or converted to shares by the top guarantor within the Maturity Date. The subscription price per share upon conversion of the Convertible Loan shall be 130% of the subscription price in the Rights Issue, i.e., NOK 0.78 per share.
For more information, please refer to the EGM minutes published by the Company on 22 November 2023.
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This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book – Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 20:05 on 14 December 2023.
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For further information contact:
Danielle Glenn, CFO and Head of IR, Zwipe
E-mail: ir@zwipe.com
####
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence. To learn more, visit http://www.zwipe.com.
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IMPORTANT NOTICE
Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Zwipe in any jurisdiction, either from Zwipe or from anyone else.
This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 ("the Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus regarding the Rights Issue described in this press release has been registered with the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) and is kept available at, inter alia, Zwipe AS' website.
This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish and Norwegian law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.
Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Euronext Growth Oslo or Nasdaq First North Growth Market's rules for issuers.
THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO BUY SECURITIES IN ZWIPE AS. SEE ALSO THE SECTION "IMPORTANT INFORMATION" BELOW IN THIS DOCUMENT.
OSLO, NORWAY – 14 DECEMBER 2023 – Reference is made to the stock exchange announcements published by Zwipe AS (the "Company") on 13 December 2023, regarding the end of the subscription period and the preliminary results of a rights issue of units, each consisting of one new share in the Company, each with a nominal value of NOK 0.10 (the "Offer Shares") and one warrant of series T01 (the "Warrants"), with preferential rights for existing shareholders per unit (the "Units"), with preferential rights for existing shareholders raising gross proceeds of approximately NOK 35.0 million (the "Rights Issue").
The Company received subscriptions for a total of 24,194,533 Units, corresponding to approx. 41.4% of the Units, during the subscription period for the Rights Issue.
The allocation of the Offer Shares and Warrants in the Rights Issue has now been completed on the basis of the allocation criteria resolved by the extraordinary general meeting of the Company in connection with the approval of the Rights Issue, and as set out in the prospectus prepared for the Rights Issue dated 24 November 2023 (the "Prospectus").
The board of directors of the Company has allocated a total of 40,889,612 Offer Shares and 40,889,612 Warrants in the Rights Issue, of which 24,194,533 Offer Shares and 24,194,533 Warrants were allocated based on subscriptions received in the subscription period and the remaining 16,695,079 Offer Shares and 16,695,079 Warrants were allocated to the so-called bottom guarantors for the Rights Issue.
Furthermore, the Company had received a so-called top guarantee commitment of an amount corresponding to approximately NOK 10.5 million, which was to be paid to the Company by the top guarantor subscribing for a convertible loan in the Company (the "Convertible Loan"). The total subscription price for the Convertible Loan would be equivalent to the total subscription price of the Rights Issue, minus the subscription price of the Units subscribed by the existing shareholders of the Company and the Units subscribed by the bottom guarantors. However, the subscription price would not be less than NOK 5.0 million.
Based on the subscription rate of the Rights Issue, the size of the Convertible Loan was determined to be NOK 10,514,472. Please see the stock exchange announcement pertaining to the Convertible Loan for more information.
Notifications of allocated Offer Shares and Warrants and the corresponding subscription amount to be paid by each subscriber not yet having paid for their subscriptions are expected to be distributed tomorrow, on 15 December 2023. Payment for the allocated Offer Shares falls due on 20 December 2023 in accordance with the payment procedures described in the Prospectus.
The Offer Shares and Warrants may not be transferred or traded before all Offer Shares have been fully paid for and the share capital increase pertaining to the Rights Issue has been registered with the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret). Subject to timely payment of the entire subscription amount in the Rights Issue, the Company expects that the share capital increase pertaining to the Rights Issue will be registered with the Norwegian Register of Business Enterprises on or about 22 December 2023. Under the same conditions, allocated Offer Shares and Warrants are expected to be delivered on or about 27 December 2023 through the facilities of VPS and on or about [29] December 2023 through the facilities of Euroclear. Trading in the Offer Shares and Warrants on Euronext Growth Oslo is expected to commence on or about 28 December 2023 and on Nasdaq First North Growth Market on or about 29 December 2023.
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This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book – Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 19:00 on 14 December 2023.
####
For further information contact:
Danielle Glenn, CFO and Head of IR, Zwipe
E-mail: ir@zwipe.com
####
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence. To learn more, visit http://www.zwipe.com.
####
IMPORTANT NOTICE
Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Zwipe in any jurisdiction, either from Zwipe or from anyone else.
This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 ("the Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus regarding the Rights Issue described in this press release has been registered with the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) and is kept available at, inter alia, Zwipe AS' website.
This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish and Norwegian law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.
Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Euronext Growth Oslo or Nasdaq First North Growth Market's rules for issuers.
THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO BUY SECURITIES IN ZWIPE AS. SEE ALSO THE SECTION "IMPORTANT INFORMATION" BELOW IN THIS DOCUMENT.
OSLO, NORWAY – 13 DECEMBER 2023 – Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") on 28 November 2023, regarding the commencement of the subscription period in a new issue of units, each consisting of one new share in the Company, each with a nominal value of NOK 0.10 and one warrant of series T01, with preferential rights for existing shareholders per unit (the "Units"), with preferential rights for existing shareholders raising gross proceeds of approximately NOK 35.0 million (the "Rights Issue").
The subscription period for the part of the Rights Issue taking place on Nasdaq First North Growth Market expired yesterday, on 12 December 2023 at 16:30 hours (CET) and the subscription period for the part of the Rights Issue taking place on Euronext Growth Oslo expired today, on 13 December 2023 at 16:30 hours (CET).
Preliminary results indicates that the Company has received subscriptions for 23,932,948 Units. 58,413,732 Units were offered in the Rights Issue. The preliminary counting consequently indicates a subscription rate of approx. 40.97%.
The final allocation of the new shares will take place tomorrow, on 14 December 2023, in accordance with the allocation criteria set out in the Company's prospectus dated 24 November 2023. The final results of the Rights issue will be published shortly thereafter. Notification regarding allocation of new shares and the corresponding subscription amount to be paid by each subscriber, are expected to be distributed on or about 15 December 2023.
For more information, please refer to the prospectus dated 24 November 2023, prepared by the Company in connection with the Rights Issue, which is available at the Company's website, www.zwipe.com and the Swedish Financial Supervisory Authority's website, www.fi.se.
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This information is subject to the disclosure requirements in the Market Abuse Regulation (EU 596/2014) and the Norwegian Securities Trading Act section 5-12, and is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book – Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 17:20 on 13 December 2023.
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For further information contact:
Danielle Glenn, CFO and Head of IR, Zwipe
E-mail: ir@zwipe.com
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence. To learn more, visit http://www.zwipe.com.
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IMPORTANT NOTICE
Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Zwipe in any jurisdiction, either from Zwipe or from anyone else.
This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 ("the Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus regarding the Rights Issue described in this press release has been registered with the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) and is kept available at, inter alia, Zwipe AS' website.
This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish and Norwegian law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.
Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Euronext Growth Oslo or Nasdaq First North Growth Market's rules for issuers.
THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO BUY SECURITIES IN ZWIPE AS. SEE ALSO THE SECTION "IMPORTANT INFORMATION" BELOW IN THIS DOCUMENT.
OSLO, NORWAY – 13 DECEMBER 2023 – Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") on 30 November 2023, regarding the commencement of the subscription period in a new issue of units (the "Units"), consisting of shares and warrants, with preferential rights for existing shareholders raising gross proceeds of approximately NOK 35.0 million (the "Rights Issue"). Reference is further made to the stock exchange announcement published by the Company on 12 December 2023, regarding the last day of the subscription period on Nasdaq First North Growth Market.
The subscription period for the part of the Rights Issue taking place on Euronext Growth Oslo will expire today, on 13 December 2023, at 16:30 hours (CET).
The subscription rights that are not used to subscribe for Units in the Rights Issue on Euronext Growth Oslo before 16:30 hours (CET) today will have no value and lapse without compensation to the holder.
For more information, please refer to the prospectus dated 24 November 2023, prepared by the Company in connection with the Rights Issue, which is available at the Company's website, www.zwipe.com and the Swedish Financial Supervisory Authority's website, www.fi.se.
####
This information is published in accordance with the requirements of the Continuing Obligations set out in Euronext Growth Rule Book Part II for Euronext Growth Oslo.
####
For further information contact:
Danielle Glenn, CFO and Head of IR, Zwipe
E-mail: ir@zwipe.com
####
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence. To learn more, visit http://www.zwipe.com.
####
IMPORTANT NOTICE
Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Zwipe in any jurisdiction, either from Zwipe or from anyone else.
This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 ("the Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus regarding the Rights Issue described in this press release has been registered with the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) and is kept available at, inter alia, Zwipe AS' website.
This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish and Norwegian law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.
Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Euronext Growth Oslo or Nasdaq First North Growth Market's rules for issuers.
THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO BUY SECURITIES IN ZWIPE AS. SEE ALSO THE SECTION "IMPORTANT INFORMATION" BELOW IN THIS DOCUMENT.
OSLO, NORWAY – 12 DECEMBER 2023 – Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") on 30 November 2023, regarding the commencement of the subscription period in a new issue of units (the "Units"), consisting of shares and warrants, with preferential rights for existing shareholders raising gross proceeds of approximately NOK 35.0 million (the "Rights Issue").
The subscription period for the part of the Rights Issue taking place on Nasdaq First North Growth Market Sweden will expire today, on 12 December 2023, at 16:30 hours (CET).
The subscription rights that are not used to subscribe for Units in the Rights Issue on Nasdaq First North Growth Market Sweden before 16:30 hours (CET) today will have no value and lapse without compensation to the holder.
For more information, please refer to the prospectus dated 24 November 2023, prepared by the Company in connection with the Rights Issue, which is available at the Company's website, www.zwipe.com and the Swedish Financial Supervisory Authority's website, www.fi.se.
####
This information is published in accordance with the requirements of the Continuing Obligations set out in Euronext Growth Rule Book Part II for Euronext Growth Oslo.
####
For further information contact:
Danielle Glenn, CFO and Head of IR, Zwipe
E-mail: ir@zwipe.com
####
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence. To learn more, visit http://www.zwipe.com.
####
IMPORTANT NOTICE
Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Zwipe in any jurisdiction, either from Zwipe or from anyone else.
This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 ("the Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus regarding the Rights Issue described in this press release has been registered with the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) and is kept available at, inter alia, Zwipe AS' website.
This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish and Norwegian law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.
Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Euronext Growth Oslo or Nasdaq First North Growth Market's rules for issuers.
AUSTIN, TEXAS and OSLO, NORWAY – 12 December 2023 – Zwipe, the global leader in biometric payment and access cards, has partnered with HID, the worldwide leader in trusted identity solutions, to release a recycled PVC prelaminate for its biometric smart card Zwipe Pay.
Recycled card materials are vital for achieving sustainability goals. Every year, about 3 billion payment cards, predominantly made of PVC, are issued globally. Replacing new PVC with recycled ones reduces waste and limits the influx of new plastic. More than 500 million “eco-friendly” cards, from recycled materials, PLA or PET-G, will be distributed in 2023, and this number is set to exceed 1 billion cards by 2025.
HID offers a prelaminate exclusively made from 100% recycled PVC designed specifically for producing biometric smart cards. When paired with the Zwipe Pay IC Module and fingerprint sensor, smart card manufacturers have the essential components to produce eco-friendly biometric smart cards that meet Mastercard Card Quality Management (CQM) requirements, including the use of sustainable materials in any new card issued as of 2028.
The recycled PVC prelaminates for Zwipe Pay are globally available for order now.
“With a strong focus on sustainability, HID is driven by the belief that technology can be harnessed to not only enhance security and convenience, but also minimize our environmental footprint. Our partnership with Zwipe represents a bold step towards a future where secure, convenient, and eco-friendly solutions meet at the intersection of cutting-edge technology and environmental responsibility,” said Martin Brezina, Vice President of Lux-Ident Business Unit at HID.
Patrice Meilland, Chief Strategy and Product Officer at Zwipe, added, "We are delighted to be first to market a recycled PVC biometric smart card platform. We are very happy that HID was able to support our request for a recycled PVC option timely and with impressive quality."
About HID
HID powers the trusted identities of the world’s people, places and things. We make it possible for people to transact safely, work productively and travel freely. Our trusted identity solutions give people convenient access to physical and digital places and connect things that can be identified, verified and tracked digitally. Millions of people around the world use HID products and services to navigate their everyday lives, and billions of things are connected through HID technology. We work with governments, educational institutions, hospitals, financial institutions, industrial businesses and some of the most innovative companies on the planet. Headquartered in Austin, Texas, HID has over 4,500 employees worldwide and operates international offices that support more than 100 countries. HID is an ASSA ABLOY Group brand.
For more information, visit http://www.hidglobal.com.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work passionately across networks of international organizations, industries, and cultures to make convenience safe and secure. We pioneer next-generation biometric card technology for payment, physical and logical access control, as well as identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit https://www.zwipe.com/.
THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO BUY SECURITIES IN ZWIPE AS. SEE ALSO THE SECTION "IMPORTANT INFORMATION" BELOW IN THIS DOCUMENT.
OSLO, NORWAY – 7 DECEMBER 2023 – Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") on 30 November 2023, regarding the commencement of the subscription period in a new issue of units (the "Units"), consisting of shares and warrants, with preferential rights for existing shareholders raising gross proceeds of approximately NOK 35.0 million (the "Rights Issue"). The shareholders of the Company on 22 November 2023 (and being registered as such in the Norwegian Central Securities Depository, Euronext Securities Oslo, as at the expiry of 24 November 2023 (the "record date") was granted one (1) subscription right (the "Subscription Rights") for each share registered as held by the shareholder as of the record date. One (1) Subscription Right is required to subscribe for one (1) Unit.
The period for trading in the Subscription Rights in the Rights Issue (ticker code ZWIPT) expires at 16:30 hours (CET) today, 7 December 2023.
The Subscription Rights that are not sold before 16:30 hours (CET) today, 7 December 2023, or used to subscribe for Units in the Rights Issue before expiry of the subscription period will have no value and lapse without compensation to the holder. The subscription period for the Rights Issue ends on 13 December at 16:30 (CET) for the part of the Rights Issue taking place on Euronext Growth Oslo and on 12 December 2023 at 16:30 (CET) for the part of the Rights Issue taking place on Nasdaq First North Growth Market Sweden.
For more information, please refer to the prospectus dated 24 November 2023, prepared by the Company in connection with the Rights Issue, which is available at the Company's website, www.zwipe.com and the Swedish Financial Supervisory Authority's website, www.fi.se.
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This information is published in accordance with the requirements of the Continuing Obligations set out in Euronext Growth Rule Book Part II for Euronext Growth Oslo.
####
For further information contact:
Danielle Glenn, CFO and Head of IR, Zwipe
E-mail: ir@zwipe.com
####
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence. To learn more, visit http://www.zwipe.com.
####
IMPORTANT NOTICE
Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Zwipe in any jurisdiction, either from Zwipe or from anyone else.
This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 ("the Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus will be prepared by the Company and published on the Company's website after the prospectus has been reviewed and approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen).
This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish and Norwegian law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.
Offers to the public will be permitted in Sweden and Norway from and including the date of approval of the prospectus by the competent authority in Sweden and the competent authority in Norway has been notified in accordance with the Prospectus Regulation, through to and including the end of the subscription period in the Rights Issue.
Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Euronext Growth Oslo or Nasdaq First North Growth M
