Swedish additive manufacturing stalwart Arcam AB has been the subject of acquisition rumors for weeks, but it appears they have their own plan to accelerate growth. The company intends to issue a private placement of 200,000 new shares, providing SEK (Swedish krona) 60 million before transaction costs.
The new shares will be issued to a limited number of international institutional investors at a price of SEK 300 per share, a little over $45 after currency conversion. The purpose of the private placement is to provide capital to enable an accelerated expansion and development of the company, its market and products. Arcam specializes in electron beam melting systems for the medical and aerospace industries.
The new issue results in a share dilution of approximately 5 percent after completed issue. The total number of shares in Arcam increases by 200,000, from 3,756,595 to 3,956,595.