case / 24 Nov 2022
Setterwalls has advised InCoax Networks in connection with rights issue and over-allotment
Setterwalls has advised InCoax Networks AB (“InCoax”) in connection with a rights issue that was subscribed to approximately 120.6 percent, and a subsequent over-allotment issue to accommodate over-subscription in the rights issue.
InCoax is innovating the future of broadband access. InCoax’ MoCA Access 2.5 platform provides the next generation of cost-efficient multi-gigabit Fiber Access Extension solutions to the world’s leading telecom, cable- and broadband service providers. InCoax is listed on Nasdaq First North Growth Market.
The rights issue was subscribed to approximately 120.6 percent. In order to accommodate over-subscription in the rights issue, the board of directors of the company resolved on a subsequent over-allotment issue. Through the rights issue and the over-allotment issue, InCoax receives issue proceeds of approximately SEK 60.4 million before issue costs.