Ã…AC Microtec - Fuelling up for growth
Ã…AC has announced a fund-raising of up to SEK82.5m before costs via a 2 for 5 rights issue at SEK3.0 per share. The company has obtained subscription commitments and underwriting guarantees for 81.9% of the issue, or SEK 67.5m, which should represent the minimum funding it will receive. The new funds significantly strengthen the balance sheet and should enable Ã…AC to pursue both organic and inorganic growth opportunities as they arise. The company will report Q119 results on 8 May.AAC Clyde Space AB, formerly AAC Microtec AB, is a Sweden-based company, which is primarily involved in the aerospace industry. The Company operates as a provider of space solutions and systems for commercial, governmental and educational purposes on the global market through its partner network and offices in Sweden, the United States and the United Kingdom. The Company specializes in small, purpose-built satellites, as well as sub-systems and components. The Company's customers include the European Space Agency (ESA), National Aeronautics and Space Administration (NASA), Orbcomm, Kepler Communications, NSLComm, KP Labs and Orbital Micro Systems, among others.
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