DecideAct A/S [ACT]
Company Announcement No. 2-2020:
Today, DecideAct A/S announces the result of its offering of new shares in connection with the application for listing on Nasdaq First North Growth Market Denmark cf. company announcement no. 1-2020 of 25 November 2020. As planned, the offer period was concluded on 9 December at 23.59 (CET).
The maximum initial public offering (IPO) is 2,269,939 shares of 8.15 DKK corresponding to a total of DKK 18.5 million. Of the total amount, 36% or DKK 6.6 million was pre-subscribed. This means that a total of DKK 11.9 million was offered for open public subscription.
A total of 2.956 subscribers contributed to a total subscription in the IPO of DKK 71.8 million, which translates into a total subscription percentage of 604% counting open public subscription and 388% in relation to the total offering of the DKK 18.5 million.
Due to the massive oversubscription, it has only been possible to allocate shares to all subscribers by reducing the allocation from the minimum subscription of 600 shares to 475 shares. The general allocation of 475 shares at DKK 8,15 per share corresponds to DKK 3,871.25 each. This means that DecideAct will have 3.006 shareholders in total at the first day of trading and the free-float will be above 40%.
The net proceeds from the offering will be invested in the company's sales, marketing and product development activities as outlined in the Company Description.
As also described in the Company Description (section 7.1.6), the Founders committed to convert loans of DKK 1 million at the same price as the IPO. Given that the IPO was oversubscribed, the conversion will take place in a separate directed issue. A total of 122,699 new shares will be issued as a result of the loan conversion.
After completion of the offering and the conversion of debt as described above, the share capital of the Company will be increased from nominally DKK 529,053.90 distributed on 5,290,539 shares of DKK 0.10 to nominally DKK 768,317.70 distributed on 7,683,177 shares of DKK 0.10. Registration of the capital increase at the Danish Business Authority (in Danish: Erhvervsstyrelsen) is expected to take place on 15 December 2020.
The first trading day on Nasdaq First North Growth Market Denmark is expected to be 16 December 2020. DecideAct will trade under the ticker 'ACT' and with the permanent ISIN: DK0061414471.
CEO and co-founder of DecideAct, Flemming Videriksen comments: “We are proud of the interest and trust that all subscribers have shown us. Welcoming almost 3.000 private investors with a desire to buy shares in our company and in our journey is amazing. Thank you!!! Unfortunately, we had to perform reductions – and often significant reductions – in all desired subscriptions. We hope that you will want and be able to catch up to the wanted position by trading in the market after the IPO. With the proceeds from the offering, our growth journey continues with added determination and we will put all our energy into reaching our goal of becoming a true market leader in the emerging and highly exciting category of Strategy Execution Management.
About DecideAct A/S [ACT]
DecideAct is a dedicated provider of SaaS software and solutions that move manual implementation and follow-up of strategy to a cloud-based Strategy Execution Management platform. By rethinking the way strategy is implemented, DecideAct has created a groundbreaking tool that can help companies and organizations achieve their strategic goals. DecideAct’s vision is to modernize strategic leadership through technology.
This press release constitutes inside information that DecideAct A/S is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was sent for publication, through the agency of the contact persons set out below, at the time stated by the Company’s news distributor, Cision, at the publication of this press release.
CEO, Flemming Videriksen
+ 45 78756550
Mobile: +45 27114460
Østre Kajgade 3, 3730 Nexø, Denmark
Keswick Global AG
+ 43 1 740 408045