Catena Media resolves directed share issue

Catena Media resolves directed share issue

Affiliate giant Catena Media has announced that it has resolved upon a directed share issue of 2,955,470 shares at a subscription price of SEK44.5433 per share, corresponding to approximately $13.5m (£10.3m/€12.2m).

Published 27th January 2020

The issue is in relation to a payment of a portion equal 70% of the final part of the payment for US assets it acquired in December 2016.

The remainder of the earn-out obligation related to the deal equals 30%  - and in total $5.8m - will be paid in cash in April.

The newly issued shares are subject to a lock-up period ending on 1 October 2020, with a gradual release during this period.

Catena noted that as a result of the share issue, the number of ordinary shares in the business will be increased by 2,955,470 shares to 61,568,740 shares.

In addition, the share capital in Catena will be increased by €4,433 to €92,353.