Precise Biometrics opens $11.3M rights issue to fund Fingerprint Cards merger
What's the deal? Precise BiometricsDealroom has a profile for this one. Try Dealroom → has launched a rights issue to raise SEK 110 million ($11.3 million) to fund its integration with Fingerprint CardsDealroom has a profile for this one. Try Dealroom →. The offering covers up to 134,508,376 new ordinary shares priced at SEK 0.82 ($0.084) each.
Where the money goes: Net proceeds will cover the merger integration, repay bridge financing, and fund synergies, product development, and priority commercial initiatives.
Why now? Precise completed its merger with Fingerprint Cards on July 20, forming a combined Nordic biometrics company. The rights issue, first announced in March, arrives as the newly enlarged group needs capital to bed down the deal.
By the numbers: The subscription price marks a 35% discount to the July 20 closing price. Precise has secured SEK 100 million in guarantee commitments — SEK 20 million more than when the raise was announced in March.
What's the endgame? The company expects to realise SEK 45 million in annual cost synergies from the merger. Backers have framed the tie-up as a platform for further biometrics consolidation.
The signal: The step-up in guarantee commitments since March points to firmer investor conviction as the two long-time rivals become one. For a sector under consolidation pressure, the raise is a test of whether a combined Nordic player can turn scale into savings.
Read more: Biometric Update
