FREEMELT HOLDING AB (PUBL) HAS BEEN APPROVED FOR LISTING ON NASDAQ FIRST NORTH GROWTH MARKET
5 Jul 2021
Nasdaq Stockholm AB has approved Freemelt Holding AB's (publ) ("Freemelt" or "the Company") application for admission to trading of the Company's shares on Nasdaq First North Growth Market. The company will be traded under the short name "FREEM" with ISIN code SE0011167170. The first day of trading is July 7, 2021.
Briefly about Freemelt
Freemelt was founded in 2017 by a team with very long and unique experience in metal 3D printing. The Company has developed new patent-pending technology and Freemelt ONE, an advanced 3D printer based on electron beam technology optimized for professional development of new metal materials, which has been sold and delivered to several customers.
In 2020, the Company's net sales amounted to approximately SEK 6.4 million with a loss of approximately SEK 4.4 million. As of December 31, 2020, the Company's total assets amounted to approximately SEK 33.7 million. During April 2021, the Company carried out a pre-IPO issue which provided the Company with approximately SEK 85 million at a subscription price of SEK 10 / share.
The company's 15 largest owners includes Carlbergssjön AB, Industrifonden, Lindeblad Venture AB, Palmstierna Invest AB and Ola Rollén. As of today, Freemelt has approximately 5,000 shareholders. The Board of Directors, senior executives and major shareholders have, through a commitment to lock up, undertaken not to sell any shares for a period of twelve (12) months from the first day of trading on the Nasdaq First North Growth Market. The number of shares that are under lock-up corresponds to approximately 68 percent of all outstanding shares in the Company.
Comment from Ulric Ljungblad, CEO
“The recently completed investment round now gives us the opportunity to develop a powerful and cost-effective 3D printing system for the manufacturing industry to broaden our offering in line with our long-term strategy. The listing of Freemelt on Nasdaq First North Growth Market is an important step in the development of the Company, which will increase awareness of Freemelt and our products,” says Ulric Ljungblad.
Background and motive
3D printing is layer-by-layer fabrication of parts by fusing of raw material. Each layer is melted in a unique layer pattern extracted from a 3D-CAD drawing. The most common raw material is powder (metal or plastic) and the most common 3D printing process is called Powder Bed Fusion (PBF). Freemelt uses Electron Beam Powder Bed Fusion (E-PBF) with high power and high temperature for fast 3D printing in metal powder, which provides excellent material quality in manufactured parts.
The first practical tests with 3D printing took place in 1981 through printing in photopolymers. Three years later, in 1984, stereolithography was invented, a 3D printing technology for selectively curing plastics into finished 3D prints. In 1988, powder-based 3D printing using laser technology was invented at the University of Texas, later licensed to the startup company DTM, later acquired by 3D-Systems. Today, this technology is the most widely used for many advanced applications in 3D printing. In 1991, the first successful experiments were performed at the University of Leuven, Belgium, with electron beam-based 3D printing similar to Freemelt's technology.
3D printing has developed rapidly since then with ever-increasing application areas and growing market shares in prototype manufacturing and production. Despite this, most metal components are still manufactured with other, more traditional, manufacturing methods such as casting or machining. Sales of machines for advanced 3D printing have increased annually in double digits for many years and are expected to grow at a similar rate in the foreseeable future.
Freemelt's next step is to develop a production system for 3D printing based on the electron beam technology developed for Freemelt ONE, which will be launched on the market in selected business areas. Aligning towards this next step, Freemelt's Board of Directors believes that a listing creates the conditions for growth and accelerated value creation for shareholders, through increased interest in the Company from analysts, investors and the general public, both domestically and internationally.
Share capital and number of shares
The company's share capital amounts to SEK 1,830,000 divided into a total of 36,600,000 shares.
Listing on Nasdaq First North Growth Market and company description
The company's share will be traded under the short name "FREEM" with ISIN code SE0011167170.
The company's shareholders do not need to take any measures in connection with the listing.
Due to the listing on the Nasdaq First North Growth Market, Freemelt has prepared a company description which is attached and is also available on the Company's website www.staging.freemelt.com. For complete information about the Company, please refer to the company description.
Eminova Fondkommission AB has been appointed the Company's Certified Adviser. Törngren Magnell & Partners Advokatfirma KB acts as legal advisor in connection with the listing on the Nasdaq First North Growth Market.
For more information, please contact:
Ulric Ljungblad, CEO
073-984 00 12
About Freemelt Holding AB (publ)
Freemelt was founded in 2017 by a team with very long and unique experience in metal 3D printing. The Company has developed new patent-pending technology in electron beam technology and launched Freemelt ONE, an advanced 3D printer optimized for professional development of new metal materials.
The Company's Certified Adviser is Eminova Fondkommission AB | 08-684 211 10 | email@example.com
This message may contain some forward-looking statements. Such statements are statements that do not relate to historical facts, and they contain expressions such as "consider", "expect", "intend", "plan", "assess", "will", "can", "continue", "shall", "should", "may", or the like. The forward-looking statements in this Communication are based on various estimates and assumptions, which in several cases are based on additional assumptions. Even if the Company considers that the assumptions in these forward-looking statements were reasonable when they were made, it cannot be guaranteed that they will be fulfilled or prove to be correct. As these statements are based on estimates or are subject to risks and uncertainties, the actual results or outcomes as a result of various factors may differ materially from what is expressly or indirectly apparent from such information. Such risks, uncertainties and other significant factors may cause actual results to differ materially from the results expressly or implicitly stated in this notice through the forward-looking statements. The Company makes no warranties with respect to the assumptions underlying the forward-looking statements in this announcement. Furthermore, the Company assumes no responsibility for the future accuracy of the forward-looking information herein or for updating or revising the statements in this notice to adapt the information to actual events or developments. Improper trust should not be attached to the forward-looking statements in this Communication.
The information, estimates and forward-looking statements in this notice are valid only as of the date of this notice and are subject to change without notice. The Company assumes no obligation to review, update, confirm, or publish any adjustments regarding any forward-looking statements to reflect events that occur or circumstances that arise regarding the content of this notice.
Latest update: 2021-07-05