The Swedish supplier of IoT and cloud platform solutions, H&D Wireless, has decided to make a rights issue that adds SEK 24 million to further development projects in the enterprise business area (Industrial RTLS- and IoT Solutions). The new capital also provides H&D Wireless with working capital for a planned listing of the company's shares on Nasdaq First North shortly.
H & D Wireless executes a new share issue with preference for existing shareholders beginning on November 24, which will provide the company with SEK 24 million if the issue is fully subscribed. 14 existing shares qualify for subscription of three new shares at a price of eight kronor per share. The company has already received guarantees and subscriptions corresponding to 97 percent of the issue amount.
Upon completion of the issue, H&D Wireless plans to list the company's shares on Nasdaq First North, which will take place shortly.
"This new capital contribution allows us to expand. H&D Wireless is at the forefront of a global market that is predicted to be gigantic", said Pär Bergsten CEO and founder, H&D Wireless. "In the Nordics, we estimate the size of the market to SEK 3-6 billion and our ambition is to become the market leader in the Nordic region in this new expansive market, where there are currently no players".
H&D Wireless develops and sells modules, solutions and services that allow for connection, positioning and monitoring of equipment, tools, inventory and people. The technology makes it possible to analyse, automate and streamline flows and processes in a number of areas.
The capital will be used primarily for the business area Enterprise, offering the company's new Industrial IoT Wireless Real-Time Tracking (RTLS) solution, specially developed for manufacturing customers to facilitate their digitalisation process. The operations are based on the proprietary cloud-based IoT platform "Griffin Enterprise Positioning System" (GEPS).
"Our focus is on providing large industrial players with solutions for real-time monitoring of manufacturing and distribution flows. With our groundbreaking technology, customers can expect bigger profit margins and shorter lead times", continues Pär Bergsten.
"The market for IoT is expected to grow exponentially in the coming years, while the accelerating flow of goods and services increasingly requires suppliers. With H&D Wireless solutions, the process industry can streamline its processes and adapt to the increasing rate of change.