Setterwalls has advised Advenica in connection with a substantially oversubscribed rights issue

Setterwalls has advised Advenica AB (publ) (“Advenica”) in connection with a rights issue that was oversubscribed to 319.1 per cent.

Advenica provides encryption and segmentation products, designed and developed in Sweden, that prevent intrusion, data leakage and manipulation of valuable and business-critical information. Since Advenica was founded in 1993, the company has delivered security solutions that live up to the very highest security requirements set by the defense industry and authorities. Advenica is one of only four companies in the world that has EU-approved VPN technology at the highest security level. Advenica is headquartered in Malmö, Sweden, and is listed on Nasdaq First North Premier Growth Market (ADVE).

Through the rights issue, that was oversubscribed to 319.1 per cent, Advenica receives cash issue proceeds of approximately SEK 27.6 million before issue costs.