LifeClean International AB (publ) (“LifeClean” or the “Company”) has completed a directed share issue of approximately SEK 32.3 million. The subscribers consist of a number of existing shareholders, institutional investors, and family offices. Part of the directed issue is allocated to three of the Company’s board members, as well as the Company’s major shareholders, Varakani AB and Jula Miljö & Energi AB, and is subject to approval at an extraordinary general meeting. SEK 3.0 million of the directed issue is conducted through the offsetting of debt. The net proceeds from the directed issue are intended to ensure the delivery of ongoing customer projects and increase business opportunities across all business verticals: PFAS, Agriculture, and Healthcare.
You can find LifeClean’s full press release here.
Fredrik Tumegård, CEO of LifeClean, comments:
"It is gratifying to see that we have now capitalized the company to a level where we can accelerate growth. We are expanding our business both in depth and breadth, with a sharper offering and new customers both in Sweden and internationally. Additionally, we also have recurring customers, which is the ultimate proof of a strong product portfolio. I would like to take this opportunity to thank all shareholders for their support and look forward to taking LifeClean to the next level, setting a new industry standard that benefits the environment.”
LifeClean develops, manufactures, and markets environmentally friendly disinfection and decontamination solutions as well as sustainable premium cleaning products. The Company’s strategy is to establish long-term agreements with major strategic distributors that have strong networks, efficient logistics capabilities, and deep industry expertise. LifeClean aims to position its brand with national and international distributors across its business areas. Sales in the Nordic region are conducted through direct sales and a strong reseller network, while sales outside the Nordic region are primarily managed through contracted distributors with extensive networks.
In recent months, LifeClean has announced several deals and follow-up transactions within the PFAS and Agriculture business areas. On Wednesday, July 3, 2024, LifeClean also announced a long-term partnership with Presto Group in the PFAS business area. The agreement is the result of an extensive dialogue and has been preceded by multiple test and evaluation programs. The Company has received an initial order of SEK 2 million and estimates that the agreement could be expanded to a total order value of SEK 10 million annually. To ensure delivery to Presto Group and to expand business opportunities across all verticals, the Company aims to secure working capital for market expansion.
The purpose of the directed share issue is to secure the delivery of ongoing customer projects, drive market expansion, and increase business across all verticals: PFAS, Agriculture, and Healthcare. A portion of the issue proceeds will be used to repay convertible loans issued to Varakani AB and Jula Miljö & Energi AB, both of which are participating in the directed issue.
LifeClean was founded in 2012 and is listed on Nasdaq First North Growth Market (ticker: LCLEAN). The group provides sustainable disinfection, decontamination, and cleaning solutions addressing global challenges such as antimicrobial resistance, disease transmission, and PFAS contamination. LifeClean has pioneered the world’s first climate-neutral chemical production, the world’s most efficient laundry detergent, and a unique, patented, and more environmentally friendly chlorine dioxide-based chemical formula. This chemical technology underpins a proven method for PFAS decontamination and is verified as a sporicidal, fungicidal, biofilm, bacterial, and virucidal surface disinfection. The group operates two production facilities in Sweden, certified under ISO 13485, ISO 14001, and ISO 9001.
Corpura acted as sole bookrunner in connection with the directed share issue.
For more information contact:
Carl Kindal
Phone: +46 (0)73-501 58 58
Email: carl.kindal@corpura.se
