Sivers IMA is pleased to announce that Ampleon Netherlands B.V (Ampleon), a Netherlands based company and world leader in RF power solutions for cellular base stations, today has invested USD 4,000,000, corresponding to approximately SEK 33,704,000 via a convertible bond in Sivers IMA Holding AB.
The purpose of the investment is to provide funding for the joint project to develop a 5G mmWave RF solution announced on 30 November 2017 this year.
”Recently we announced that Ampleon and Sivers IMA join forces to develop a world class 5G mmWave RF solution. Today we are very pleased to share that Ampleon also will support this project with an investment, which will enable the use of the best possible technology and a quicker time to market for the joint solution” says Anders Storm, CEO of Sivers IMA.
5G is the next generation mobile telecommunications standard. There are today over 7.8 billion mobile subscribers on the mobile networks in the world. Ericsson 2017 mobility report estimates that there will be 1 billion new 5G subscriptions by the end of 2023.
5G infrastructure market is estimated to be valued at USD 2.86 billion in 2020 and it is further expected to reach USD 33.72 billion by 2026, at a CAGR of 50.9% between 2020 and 2026 according to “5G Infrastructure Market - Global Forecast to 2026” by Research and Markets.
The main terms of the convertible bonds are as follows:
| Final Maturity Date: | 29 December 2020 (3 years) |
| interest rate: | Interest rate of 5.00 percent yearly compounded, due for payment at maturity |
| Conversion Price: | The initial conversion price is SEK 8.29 per share (at a fixed exchange rate for SEK/USD of 8.4260), which corresponds to approximately 140% of the average volume weighted trading price during five consecutive trading days ending on 21 December 2017. |
| Conversion: | The Bondholder is entitled to convert, at any time during the period from 22 January 2018 up to the date falling 15 business days prior to 29 December 2020, all or part of the loan amount including accrued and compounded interest into shares of the Company. |
| Due date | The loan falls due on 29 December 2020 to the extent the conversion has not taken place before such date. |
The convertible bond is a senior secured bond. Immediately following settlement of the convertible loan, the Company will lend an amount corresponding to the proceeds from the issue of the convertible bonds to Sivers IMA AB, a wholly owned subsidiary of Sivers IMA Holding AB. As security for its obligations under the convertible bonds the Company will pledge its rights under the intra group loan to Sivers IMA AB. If fully converted, it is estimated that the convertible bonds will convert into 4,719,188 new shares corresponding to a maximum dilution of 4.8%. The authorization of issuing of a convertible loan was made by the AGM on 30 May 2017.
For more information:
Anders Storm, CEO
Tel: +46 70 262 6390
E-mail: [email protected]
Erik Penser Bank is appointed Sivers IMA Holding AB’s Certified Adviser at Nasdaq First North.
Telefon: 08 463 80 00
e-mail: [email protected]
This information is insider information that Sivers IMA is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication trough the agency of the contact person set out above, on December 22th, 2017 at 14.00 CET.
Sivers IMA Holding AB is a leading and internationally renowned supplier, publicly traded under SIVE at Nasdaq First North Stockholm. The wholly owned subsidiaries Sivers IMA and CST Global develop, manufacture and sell cutting-edge chips, components, modules and subsystems based on proprietary advanced semiconductor technology in microwave, millimeter wave and optical semiconductors. Headquarters in Stockholm, Sweden. Learn more at http://siversima.com
Created in 2015, Ampleon is shaped by 50 years of RF power leadership and is set to exploit the full potential of data and energy transfer in RF. Ampleon has more than 1,250 employees worldwide, dedicated to creating optimal value for customers. Its innovative, yet consistent portfolio offers products and solutions for a wide range of applications, such as cellular base stations, radio/TV/broadcasting, radar, air traffic control, cooking, lighting, industrial lasers and medical. For details on the leading global partner in RF Power, visit www.ampleon.com
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