24SevenOffice Scandinavia AB has completed a private placement of newly issued shares through an accelerated book-building procedure led by Pareto Securities AB, providing the company with proceeds of approximately SEK 110 million before transaction costs.
24SevenOffice delivers cloud-based business systems for small and medium-sized enterprises in the Nordics.
The transaction was substantially oversubscribed and was, among others, subscribed for by TIN Ny Teknik, Swedbank Robur Ny Teknik, Adrigo Small & Midcap, Joh. Berenberg Gossler & Co and Seven Canyons Advisors.
The proceeds from the directed new share issue are intended to be used to accelerate growth initiatives, including M&A opportunities, and for general corporate purposes.
Baker McKenzie acted as legal advisor in connection with the transaction and Pareto Securities acted as Sole Manager and Bookrunner. Baker McKenzie’s team consisted of Joakim Falkner, Johanna Flink and Ian Gulam.