Setterwalls advises ÅAC Microtec AB (publ) in connection with IPO of MSEK 120 and listing on Nasdaq First North

ÅAC offers the satellite market avionics products (electronics for aerospace) with focus on data handling, such as on-board computers and mass storage and power supply. ÅAC also markets entire satellites in consortiums with other specialised suppliers. The focus is on micro satellites. ÅAC’s technical competence is in the advanced and robust, fault-tolerant microelectronics for critical applications. ÅAC is based in Uppsala.

The offering comprised the issuance of units consisting of shares and warrants, where four warrants entitles the holder to subscribe for one new share in ÅAC.

In connection with the listing of the company’s shares and warrants, a new issue of 120 MSEK was made which was substantially oversubscribed.

Trading in the company’s shares and warrants commenced on 21 December 2016 under the trading symbol AAC.