Hexicon AB has completed a private placement of shares raising approximately SEK 122 million before transaction costs.

Hexicon is a Swedish corporation engaged in the design, development and engineering of floating multi-turbine wind power platforms. The company’s patented technology enables platforms to be positioned further offshore in deeper waters and with better wind conditions.

The purpose of the private placement is to diversify the shareholder base among Swedish and international institutional investors and at the same time raise capital in a cost and time efficient manner. Furthermore, the proceeds from the share issue will be used for technology development until commercialization is reached, continued product development and expansion to new markets.

Baker McKenzie acted as legal advisor to Hexicon in connection with the transaction. Baker McKenzie’s team consisted of Joakim Falkner, Henric Roth, Marlene Wiklund and Ian Gulam. Pareto Securities acted as Sole Manager.

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