Preparation of a memorandum prior to re-listing
Case in brief:
CHALLENGE: To meet a tight deadline and regulations for the production of prospectuses when re-listing
SOLUTION: Clear project management and dialogue between all partners involved
RESULTS: Re-listing within the set time frame with a subsequent new share issue that was oversubscribed by 384%
“We had come to a situation where the company realized we could no longer pursue the re-issue with internal expertise and resources. We therefore turned to Expresso and Karin Wallström Nordén. She has solid expertise in the road-shows and processes required of listed companies. In addition, she provided clear leadership that enabled everyone involved to understand their role and deliver what was required."
The challenge
Syncro Group (then Gigger Group) planned to launch an IPO through a reverse acquisition. In order for the share to be traded, an approved re-listing memorandum was required.
As the Group's organization at this time was very slim, extra resources were needed to carry out the re-listing and the subsequent new share issue.
Expresso's solution
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Project management: Clear workflow management when preparing the re-listing memorandum for approval by Spotligt and the prospectus for the new share issue
- Content production: Texts and models for the memorandum, above all the CEO's text and descriptions of the business, the market and the risks.
- Dialogue: Ongoing dialogue and reconciliation with external stakeholders such as Spotlight and auditors
- Delivery: An approved re-listing memorandum, followed by a prospectus for a new share issue that was oversubscribed by 384%
Expresso's delivery
Performing Together
Ongoing dialogue with external stakeholders
Content
Background
Syncro Group AB (formerly Gigger Group AB) was listed on the Spotlight Stock Market in September 2020 through a reverse acquisition of True Heading AB.
In order for the company's share to be traded on the ordinary list, Syncro Group needed to submit a so-called re-listing memorandum that met the exchange's requirements.
The re-listing was followed by a new share issue, with a prospectus produced as part of the project. The issue was very successful and was oversubscribed by 384%.
About Syncro Group
Head office: Stockholm
Geographical spread: Sweden, UK
Offer: Syncro Group is a conglomerate that acquires, manages and refines SaaS platforms and service companies that optimize the efficiency of managing personnel-intensive processes.
Team Expresso
This project was delivered by Expresso
