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An announcement from Precise Biometrics AB ( (SE:PREC) ) is now available.
Precise Biometrics AB’s extraordinary general meeting in Lund has approved a merger plan jointly adopted with Fingerprint Cards, marking a key step toward combining the two Swedish biometrics players. To facilitate completion of the transaction, shareholders backed changes to the company’s articles of association, expanding permitted share capital and share count ranges to accommodate the enlarged entity.
The meeting also approved the issuance of up to 68,272,083 new ordinary shares in Precise Biometrics as merger consideration to Fingerprint Cards’ shareholders. This share issue will raise Precise’s total share capital to a maximum of SEK 44,020,923, potentially diluting existing investors but significantly increasing the company’s scale and market presence in the competitive biometric security sector.
More about Precise Biometrics AB
Precise Biometrics AB is a global leader in biometric security and identity management for physical and digital security. The company develops algorithm products and biometric systems for fingerprint, facial and palm recognition, and offers turnkey solutions for biometric physical access and visitor management, serving markets that require secure and seamless access to data, devices, premises and digital identities.
Average Trading Volume: 136,460
Technical Sentiment Signal: Sell
Current Market Cap: SEK128.4M
For a thorough assessment of PREC stock, go to TipRanks’ Stock Analysis page.