HeiQ seeks to raise 10 million US dollars through open offer

HeiQ, the textile technology and synbiotics specialists based in Schlieren in the canton of Zurich, Switzerland, is planning to implement a capital increase, further details of which can be found in a press release. According to this, HeiQ is seeking to raise capital through an underwritten open offer of up to 8,426,000 pounds sterling, or approximately 10 million US dollars. Shareholders will vote on the open offer at a General Meeting scheduled for December 23. The open offer is set to close on December 19.

HeiQ is proposing to consolidate its current issued share capital at a ratio of 1:20. Following the consolidation, 20 existing ordinary shares would be converted into a single new ordinary share, with the expectation that the proposed consolidation would reset the share price to 1 pound per share.

According to the press release, the open offer is being underwritten by a core group of investors up to a value of 8 million pounds sterling through irrevocable undertakings. This group includes Darren Morcombe, founder of Springtide Capital. He was also the founder, chairman and lead shareholder of the world’s largest gold refinery company and is a major shareholder of several private and public companies, as HeiQ explains in the press release.

According to the information, the core group additionally includes the following notable personalities: Pierre Lassonde, co-founder of Franco-Nevada Corporation, the first publicly traded gold royalty company, Thomas R. F. Dunn, Chairman of Orbian, a company specializing in financing solutions for supply chains, Valentin Doronichev, co-founder of Invitro, the largest medical laboratory firm in Eastern Europe, and Carlo Centonze, the co-founder and CEO of HeiQ.

HeiQ, a spin-off from the Swiss Federal Institute of Technology in Zurich (ETH), is headquartered at the IJZ, an innovation and start-up park located in Schlieren. The company is also a member of Start Smart Schlieren. ce/gba