Midsummer Raises SEK 175 Million in Partially Guaranteed Rights Issue

Midsummer AB ( (SE:MIDS) ) has provided an announcement.

Midsummer AB has completed a rights issue in which approximately 60.3 percent of the offer was subscribed, including 52.7 percent with subscription rights and 7.6 percent without, with the remaining 39.7 percent covered by guarantee commitments. The transaction will raise about SEK 175 million before costs, increasing the company’s share capital from SEK 13.5 million to SEK 18.6 million and the number of shares from roughly 337.4 million to 463.9 million, resulting in dilution of around 27 percent for non-participating shareholders and reinforcing Midsummer’s capital base as it continues to develop and commercialize its thin-film solar technology.

The most recent analyst rating on (SE:MIDS) stock is a Hold with a SEK1.00 price target. To see the full list of analyst forecasts on Midsummer AB stock, see the SE:MIDS Stock Forecast page.

More about Midsummer AB

Midsummer AB is a Swedish solar energy company that develops, manufactures and sells CIGS thin-film solar cells and complete solar roofs, primarily targeting construction, roofing and solar installation firms as well as end customers. It also supplies production equipment for flexible thin-film solar cells and research machinery, with manufacturing based on its proprietary DUO system, and its shares are listed on Nasdaq First North Premier Growth Market.

Average Trading Volume: 974,834

Technical Sentiment Signal: Sell

Current Market Cap: SEK389.3M

For detailed information about MIDS stock, go to TipRanks’ Stock Analysis page.