Zug/Switzerland – 10 July 2020 – iQ International AG (ISIN CH0451424300 / WKN A2PAA5 / Symbol IQL), a multinational sustainable technologies company publicly traded at the General Standard of the Frankfurt Stock Exchange with its global head office in Zug, Switzerland and North American headquarters in Scottsdale, Arizona, just successfully finished a private capital raise.
iQ International’s management team has, in preparation for an institutional financing, for which term sheets have been received and are being negotiated, organized a private capital raise from a group of its shareholders. This private capital raise was, in accordance with applicable legal limitations, only open to a limited number of shareholders, who were all invited to participate in providing the necessary bridging capital until a lager financing facility is accomplished, which the Company intends to achieve later this year.
The capital raise took place at 0.88 EUR per share plus options. The Company received subscription declarations from shareholders relating to cash payments of 790.620,96 EUR which results in a total of 898,438 new shares being issued. Subscribing shareholders will also receive a total of 1,527,091 stock options. Management wants to again thank all the shareholders who participated within the successful raise. Upon shareholders’ request, the Chairman of the Company, George Weiss, and Board Member Roland Koch have both participated in the raise.
In addition to thanking all the participating shareholders, management and Board would also like to ask all shareholders, who were not able to participate due to the legal German and Swiss restrictions on private capital raises which limits the number of participants, for their understanding. The Company understands that some of our shareholders feel ignored or not included, but both Management and Board want the shareholders to know that this was done within the legal limitations for a private capital raise and with the best interest of the Company in mind.
iQ International AG
iQ International AG is a multinational sustainable technologies company listed at the General Standard of the Frankfurt Stock Exchange. The Company licenses parts of its IP portfolio, and manufactures/distributes highly efficient lead-acid batteries that meet the increased need for cycle life in today’s global automotive and storage markets. Its award-winning innovative technology is used to create superior, long-lasting, OEM-approved Starting-Lighting-Ignition (SLI) batteries. Batteries with iQ International AG technologies are designed to generate better performance in today’s highly electrified vehicles, particularly vehicles with the Start-Stop function. The Company’s technologies have the potential to reduce the carbon footprint of the transportation industry, helping car makers meet the emissions reduction mandates. – For more information, visit www.iqint.com