Wednesday, 28 June 2017

Clavister raises $5.2 million ahead of listing

Clavister
Thursday 08 May 14

Clavister, a leader in high-performance, high-availability network security for the telecom, cloud and enterprise sectors has completed a directed new share issue of 2,000,000 shares, providing the company with SEK 34 million before reduction of transaction costs…

Clavister, a leader in high-performance, high-availability network security for the telecom, cloud and enterprise sectors has completed a directed new share issue of 2,000,000 shares, providing the company with SEK 34 million before reduction of transaction costs.

The directed new share issue is issued to international institutional investors and qualified investors in Sweden at a price of SEK 17 per share.

This will help the company to accelerate development of its market presence internationally, and capitalize on strong interest in its solutions from integrators and strategic vendor partners. Clavister will have a total of 16.02 million registered shares after issuance of these additional shares. The new issue results in an equity dilution of 12.5 percent (post money) based on the number of shares after the new share issue.

“The new issue strengthens our financial position and enables an accelerated high rate of expansion and increased market penetration of Clavister’s unique product offering. It is pleasing to see that interest in participating in the offering has been great among both Swedish and international institutional investors” says Jim Carlsson, CEO of Clavister.

Clavister recently joined the Intel Network Builders program (networkbuilders.intel.com), to further grow awareness of its solutions in business-critical datacentre, telco and cloud environments and to consolidate the company’s position as a leading provider of carrier-grade security and SDN solutions. Earlier global industry analyst Frost & Sullivan gave Clavister its ‘Product Quality Leadership Award’ for the performance, design and simplicity of its NGFW solutions.


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