Better Collective issued a total of 6,880,734 shares at a price of SEK218 each, saying that the offering was “significantly oversubscribed” due to high demand from institutional and other professional investors.
The issue will see the total number of outstanding shares and votes in the business increase from 46,984,072 to 53,864,806, while its share capital will also rise from €469,841. to €538,648.06.
Better Collective said investors who subscribed for the shares should receive their shares by 31 May.
“I am pleased to see the high level of support of our company from both existing as well as new shareholders,” Better Collective co-founder and chief executive Jesper Søgaard said.
“With the proceeds from this transaction, we maintain a flexible capital structure in order to be able to act on future strategic opportunities.”