Setterwalls has advised Intellego Technologies in connection with SEK 210 million private placement

Setterwalls has assisted Intellego Technologies AB (“Intellego Technologies”) in connection with a private placement through a directed issue of shares and warrants raising initial gross proceeds of SEK 210 million.

Intellego Technologies has carried out a private placement of shares and warrants to an entity managed by Heights Capital Management, Inc. Through the directed issue, Intellego Technologies will initially receive SEK 210 million before issue costs, supporting accelerated execution of its distribution plan and positioning the company to pursue potential acquisitions. If all warrants issued in the directed issue are exercised for subscription of new shares, Intellego Technologies will receive additional gross proceeds of SEK 614 million.

Intellego Technologies develops and manufactures color indicators that show the effect of irradiation with, among other things, invisible ultraviolet light, UV light. Intellego Technologies’ indicators have been developed from the company’s patented photochromic ink, which can be adapted to different wavelengths of light and various application areas across a range of different industries. Intellego Technologies was founded in 2011, is headquartered in Stockholm, and is listed on Nasdaq First North Growth Market.