Apr 25, 2023

Capital increase

Company Announcement No. 104

SPENN Technology A/S, a leading provider of mobile banking services, has announced a major development in its partnership with R. F. Lafferty. The company’s board of directors has authorized (authorization given in General Meeting 26.03.21) a private placement towards a group of professional investors amongst others Bjørn Kjos with a total value of DKK 14 203 850, with a share price of DKK 10. 

The issued shares, as agreed with all subscribers will be delivered to Lafferty according to the warrant agreement. Cf company announcement 103.

In a significant boost for SPENN Technology A/S, Bjørn Kjos, the former founder of Norwegian Air Shuttle AS and Norwegian Bank, has joined as lead investor in this private placement subscribing for 128 000 shares at the same conditions. This is a clear indication of the company’s potential for growth and success in the mobile banking industry.

“We are thrilled to welcome Bjørn Kjos as our lead investor,” said CEO Jens Glasø. “His extensive experience in the aviation and banking industries will be invaluable as we continue to expand our presence in the US market and beyond. This share issue represents an important milestone in our partnership with Lafferty and reinforces our commitment to innovation and growth.”

The partnership with Lafferty is set to provide SPENN Technology A/S with new opportunities for growth and innovation, allowing the company to further strengthen its position in the mobile banking industry. With this latest development, SPENN Technology A/S is well-positioned to meet its future capital needs and embark on new ventures.

“We are excited about the possibilities that this partnership presents and look forward to working closely with Lafferty to achieve our shared goals,” added Jens Glasø. “We would like to express our gratitude to our investors for their eagerness to participate in this private placement and for their continued support.”

SPENN Technology A/S is committed to delivering high-quality mobile banking services to its customers and to driving innovation in the industry. With the partnership of Lafferty and Bjørn Kjos as lead investor, the company is well-positioned to achieve its ambitious growth targets and become a leader in the mobile banking space.

Certified Adviser
Company’s Certified Adviser is Baker Tilly Corporate Finance P/S (CVR-nr. 40073310), Poul Bundgaards Vej 1, 1., DK-2500 Valby, tlf. +45 3345 1000

For further Information, please contact
Jens B. Glaso, CEO SPENN Technology A/S. Phone +47 40 40 47 50, e-mail: [email protected]

SPENN Technology A/S
CVR nr.: 26518199
Njalsgade 76, 4.
2300 København S
Tel: +45 8830 0000
www.spenn.com

About SPENN Technology A/S

In a world where 1.7 billion people are still unbanked, SPENN Technology has democratized access to financial markets by bridging the crypto sphere with traditional finance. By utilizing blockchain technology Blockbonds has created a robust real-time payment system in which everyone can manage their savings, payments, investments and loans in an honest, transparent and secure way through the SPENN App platform. Although SPENN Technology A/S is a purpose-driven company with our vision to empower people, we are also a commercial player that always strives to develop new services for our customers.

The SPENN app is an innovative and unique digital banking platform for the unbanked as well as the banked to be able to send and receive money completely cost-free, in markets where the cost of financial services is the highest in the world. SPENN is disrupting the existing mobile payment distribution channels. SPENN has recently launched new integrated services in the platform and expects to launch more crypto services going forward.

SPENN is a technology provider to banks and governments based on a Software as a Service (SaaS) solution and has grown to become a key partner for their bank partners to drive deposits and to stay in front of innovation. SPENN is helping governments regulate the unregulated utilizing new technology and visionary ideas which have ultimately solved the biggest issue within financial inclusion.

SPENN Technology A/S is listed on the Nasdaq First North Growth Market Denmark. Ticker code: SPENN

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