Financial advisor for Danionics in connection with rights issue
June 1, 2006
Danionics produced lithium- ion rechargeable batteries for mobile phones and labtops. This was done through a 50/50 owned joint venture with GP Batteries, which is one of the largest manufacturers of alkaline batteries.
Danionics produced lithium- ion rechargeable batteries for mobile phones and labtops. This was done through a 50/50 owned joint venture with GP Batteries, which is one of the largest manufacturers of alkaline batteries. ATRIUM was financial adviser to Danionics in connection with a rights issue. This resulted in Danionics receiving proceeds of DKK 65 m.
The rights issue was to ensure Danionics’ continued participation and 50% stake in the joint venture and provide operating and growth capital.
The preparation of the prospectus and the composition of a consortium of underwriters were carried out under a strict deadline, as the proceeds were to be used within a short time frame in order for Danionics to maintain its stake. The issue was fully subscribed.
As lead manager, we were in charge of organizing and structuring the issue, including communication and coordination with the FSA and NASDAQ OMX Copenhagen and drafting of the prospectus and other materials.
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