Lemonsoft Oyj today announces its intention to launch an initial public offering and to list its shares on the Nasdaq First North Growth Market . Lemonsoft is a Finnish SaaS company that designs, develops and sells ERP software solutions.
The Company focuses on offering solutions mainly for small and medium sized enterprises. The Company’s software solutions and services enable improved efficiency of customers’ business processes as well as cost savings through automation and digitalisation.
The objective of the IPO is to enable the Company’s First North listing and thus enable the growth and business expansion outlined by the Company’s strategy. The Company expects that the First North listing allows Lemonsoft to access a new channel for equity financing both from domestic and foreign investors, create liquidity for the Company’s shares and strengthen Lemonsoft’s recognition and brand awareness among customers, employees and investors. In addition, the Offering aims to broaden the Company’s ownership base with both domestic and foreign investors. The listing of the shares and increased liquidity would also help in using Lemonsoft’s shares more effectively as a means of consideration in potential acquisitions and in incentive programs for personnel.
The contemplated IPO is expected to consist of a share issue by the Company of approximately EUR 15 million (gross proceeds) and of a share sale by certain existing shareholders. The proceeds from the share issue are intended to be used to support Lemonsoft’s growth strategy including financing of acquisitions.
Ilmarinen Mutual Pension Insurance Company, Mandatum Asset Management Ltd, TIN Fonder, Aeternum Capital, Handelsbanken Fonder, ODIN Fonder, certain funds managed by Evli Fund Management Company Ltd, certain funds managed by entities owned by Aktia Bank Plc, Grenspecialisten, SEB Investment Management AB and certain funds managed by SP-Fund Management Company Ltd (together “Cornerstone Investors”) have, subject to certain ordinary conditions, committed to subscribing shares in the Offering, provided that the combined value of the Company’s shares before IPO proceeds does not exceed €201 million. Commitments by the Cornerstone Investors amount to €42.5 million in total.
