Hilbert Group AB (publ) has Carried out a Directed Issue of SEK 21.2 million

STOCKHOLM, SE / ACCESSWIRE / March 04, 2024 / Hilbert Group (STO:HILB-B) (FRA:999) THIS PRESS RELEASE MAY NOT BE RELEASED, PUBLICATED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN ANY JURISDICTION IN WHICH SUCH ACTION IN WHOLE OR IN PART, IS SUBJECT TO LEGAL RESTRICTIONS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER, OR A SOLICITATION OF ANY OFFER, TO BUY OR SUBSCRIBE FOR ANY SECURITIES IN HILBERT GROUP AB (PUBL) IN ANY JURISDICTION. PLEASE REFER TO THE "IMPORTANT INFORMATION" SECTION BELOW.

Summary

Hilbert Group AB (publ) (" Hilbert Group " or the " Company ") has carried out a directed issue of 5,300,000 B-shares at a subscription price of SEK 4.00 (the " Directed Issue "). Hilbert Group will receive proceeds of SEK 21.2 million before related transaction costs.

The Directed Issue has been resolved by the Board of Directors based on an authorization by the Annual General Meeting.

Comments by the CEO

Hilbert Group's CEO Niclas Sandström comments: "The crypto market has staged a strong recovery during the past three months. The flip side is that this has re-priced a lot of the appealing M&A opportunities that came in the wake of the bear market where many digital asset managers were struggling - and these opportunities now need to be re-negotiated. The window of opportunity is still here but likely to be gone in six months' time. The purpose of the capital raise at hand is twofold:

• To have a little extra dry powder for a cash component, enabling a swifter close in some of the candidate deals that we are looking at.
• To provide working capital to facilitate Hilbert's growth until asset management is profitable - this is expected to happen in the second half of 2024 based on current investor pipelines."

The Directed Issue

The Directed Issue consists of 5,300,000 new B-shares at a subscription price of SEK 4.00 per share. The subscription price corresponds to a discount of approximately 3.6 percent of the closing price on Nasdaq First North on March 1 and a discount of approximately 11.7 percent of the volume-weighted average price (VWAP) of the Company's B-shares on Nasdaq First North Growth Market during the period February 19 - March 1, 2024. The Company will receive proceeds of SEK 21.2 million before related transaction costs.