Sinch AB (publ)

Sinch announces the completion of a directed new share issue of 3,187,736 shares, raising approx. SEK 3.3 billion, and larger shareholders’ sale of existing shares to a fund managed by SB Management - Seite 3

Sell-down and consolidation of ownership

In connection with the Share Issue, and in order to meet the demand, the Selling Shareholders have sold a total of 5,200,000 shares to SB Management at a price of SEK 900 per share. In total, SB Management has subscribed for and acquired 6,400,000 shares in the Company, corresponding to an ownership of approximately 10.1 percent of Sinch after the Share Issue and the Sell-down. SB Management is supportive of Sinch’s future growth including through M&A. In connection with the Sell-down, SB Management has undertaken to follow the recommendations from the board of directors or the board of directors’ independent bid committee, in the event of a public takeover offer by a third party to the shareholders of Sinch.

The Selling Shareholders in the Sell-down are Cantaloupe AB (owned by co-founders Robert Gerstmann, Henrik Sandell, Kristian Männik, and Björn Zethraeus); Salvis Investment Limited (owned by co-founder Johan Hedberg); Erik Fröberg; as well as Neqst D1 AB.

In connection with the Sell-down, Cantaloupe AB’s and Neqst D1 AB’s ownership will be consolidated in Neqst D2 AB, which, following such consolidation, will hold approximately 17 percent of the shares and votes in the Company and become the largest shareholding entity of Sinch after the Share Issue and the Sell-down. This enables a long-term ownership in Sinch.

Lock-up

In connection with the Share Issue, the Company has entered into a lock-up undertaking, with customary exceptions, regarding future share issues for a period of 90 calendar days as from today. In addition, Cantaloupe AB, Neqst D1 AB (together in the newly formed Neqst D2 AB) and Salvis Investment Limited, who after the Share Issue and Sell-down hold approximately 19 percent of the shares and votes in the Company have undertaken, with customary exceptions, not to sell any shares in the Company for a period of 90 calendar days as from today.

Advisers

Carnegie and Handelsbanken Capital Markets have acted as Joint Bookrunners in connection with the Share Issue and the Sell-down. Gernandt & Danielsson has been legal advisor to the Company. Baker McKenzie has been legal advisor to the Joint Bookrunners.

 

For further information, please contact

Thomas Heath
Chief Strategy Officer and Head of Investor Relations
Sinch AB (publ)
Mobile:        [phone]
E-mail:         [e-mail]