24SevenOffice carries out an issue of convertibles of a maximum of SEK 250 million directed to the US investor Lugard Road Capital, currently owning 7.39 percent of the outstanding shares in the company.
24SevenOffice's vision is to empower businesses for the future, through delivering world class cloud based business systems to small and medium-sized companies in the Nordic region. Their model-based business system is currently used by 56,000 companies in the Nordic region.
Lugard Road Capital is a global investment fund primarily focused on public and private companies in the Internet, software, consumer and technology sectors.
The purpose of the convertibles issue is to accelerate 24SevenOffice's organic and in-organic growth initiatives, as well as for general corporate purposes.
Pareto Securities acted as sole global coordinator. Baker McKenzie Advokatbyrå acted as legal advisor to 24SevenOffice with Joakim Falkner, Ian Gulam and Marlene Wiklund from Baker McKenzie's capital markets team in Stockholm being involved.