Setterwalls has assisted Inzile AB in connection with a directed share issue

Setterwalls has assisted Inzile AB, listed on Nasdaq First North Growth Market, in connection with a share issue directed to a number of Swedish and international institutional investors. Through the share issue, the company raised proceeds of approximately SEK 127 million before transaction costs.

Inzile is a Swedish tech company creating intelligent electrically powered vehicles as well as modern transport and service solutions for a sustainable community. The company’s vision is to liberate the world from emission of fossil fuels and to accelerate the climate efforts by contributing to sustainable cities that improve quality of life.

The purpose of the share issue was to finance the company’s ongoing operations and continued investments in its technical development of production plants, vehicles and customer platform as well as production and business development. Inzile also intends to strengthen the company’s sales and marketing organisation with the aim of increasing the awareness of the company and to establish, maintain and develop relationships with potential customers in Sweden as well as Denmark, Norway and Finland. Furthermore, the proceeds from the share issue will strengthen the company’s working capital position.