Jacob Elovsson Hultin

TM & Partners has advised NextCell in connection with its rights issue

TM & Partners has advised NextCell Pharma AB (publ) in connection with its rights issue of units, consisting of shares and warrants, of approximately SEK 40 million. In the event of full utilization of all outstanding warrants, the company can receive additionally a maximum of approximately SEK 113 million.

NextCell is a cell therapy company that is in phase 2 studies with the drug candidate ProTrans for the treatment of type 1 diabetes. NextCell owns Cellaviva, the largest stem cell bank in the Nordics and QVance, a quality analysis CRO company in start up. NextCell’s shares are admitted to trading on Nasdaq First North Growth Market.

Our team consisted of:
Johan Wigh (Partner)
Jacob Elovsson Hultin (Associate)
Philip Bihl (Associate)

For more information, please contact Johan Wigh:
E-mail: johan.wigh@tmpartners.se
Phone: +46 76 00 283 26

TM & Partners has advised Neovici Holding AB (publ) in connection with its listing on Nasdaq First North Growth Market

TM & Partners has advised Neovici Holding AB (publ) in connection with the listing of the company’s shares on Nasdaq First North Growth Market. The trading in the company’s shares commenced on 2 July 2024.

Neovici offers AI-based, automated solutions for management of financial transaction both within and between companies. The company’s clients primarily consist of businesses with big volumes of business-critical transactions.

Our team consisted of:
Johan Wigh (Partner)
Jacob Elovsson Hultin (Associate)

For more information, please contact Johan Wigh:
E-mail: johan.wigh@tmpartners.se
Phone: +46 76 00 283 26

We advise Färna Invest in connection with its public takeover offer to the shareholders of ChromoGenics

TM & Partners advises Färna Invest in connection with its recommended public takeover offer to the shareholders of ChromoGenics.

ChromoGenics is a proptech company that produces smart dynamic glass, improving indoor environment and well-being while reducing energy consumption, operational costs, and climate impact in real estate. ChromoGenics’ shares are listed on Nasdaq First North Growth Market.

Färna Invest is an investment company owned by Gerald Engström, founder and chairman of Systemair AB and main shareholder and former board member of HANZA AB.

Our team consisted of:

• Johan Wigh (Partner)
• Jonas Hämälä (Partner)
• Philip Bihl (Associate)
• Jacob Elovsson Hultin (Associate)

For more information, please contact Johan Wigh:
E-mail: johan.wigh@tmpartners.se
Phone: +46 76 00 283 26

Legal advisor to Permascand Top Holding AB

TM & Partners is advising Permascand Top Holding AB (“Permascand” or the “Company”) in connection with Altor PC AB’s recommended public offer to the shareholders of Permascand. Altor PC offers a cash consideration of SEK 17 per share in Permascand, corresponding to a value of all shares in the Company of SEK 1,008 million.

Permascand is an independent technology-driven manufacturer of electrochemical solutions based on proprietary catalytic coatings for clean tech applications. Permascand is headquartered in Ljungaverk, Sweden, with operations including R&D, Technology Development and Production. Permascand’s shares are admitted to trading on Nasdaq First North Premier Growth Market.

For more information, please visit Permascand’s website.

Our team consisted of:

• Sten Hedbäck (Partner, M&A)
• Johan Wigh (Partner, Capital Markets)
• Philip Bihl (Associate, Capital Markets)
• Jacob Elovsson Hultin (Associate, Capital Markets)
• Vilhelm Norberg (Associate, Capital Markets)
• Tom Bovaller (Associate, M&A)
• Lovisa Björk (Associate, M&A)
• Arvid Riemer (Associate, M&A)

For more information, please contact Johan Wigh:
E-mail: johan.wigh@tmpartners.se
Phone: 076 002 83 26

We have advised SaltX Technology in connection with its rights issue

We have advised SaltX Technology Holding AB (publ) in connection with its rights issue of shares of approximately SEK 69 million.

SaltX Technology is a Swedish green technology company that operates in electrification technology primarily for the lime and cement industry and large-scale industrial energy storage. SaltX Technology’s shares are admitted to trading on Nasdaq First North Premier Growth Market.

Our consisted mainly of:

• Johan Wigh
• Philip Bihl
• Jacob Elovsson Hultin

TM & Partners has advised FUUD in connection with a rights issue and a directed convertible issue

TM & Partners has advised FUUD AB (publ) in connection with a rights issue of units, consisting of shares and warrants, and a directed convertible issue. Through the rights issue, the company initially receives approximately SEK 63.6 million before deduction of issue costs, and through the directed convertible issue, the company receives approximately SEK 23 million.

With the vision of becoming a leading Nordic company in the FMCG market, FUUD brings together a number of Swedish brands within Functional Foods under one roof. Today, FUUD is a group of companies active in a number of different product categories with a total of eleven brands, including Beijing8, IQ Fuel and Homie. FUUD’s shares are admitted to trading on Nasdaq First North Growth Market.

TM & Partners’ team consisted mainly of Johan Wigh (Partner), Philip Bihl (Associate), Jacob Elovsson Hultin (Associate) and Emily Frempomaa (Associate).

TM & Partners has advised SaltX Technology Holding AB (publ) in connection with a cooperation agreement and directed share issue

SaltX Technology Holding AB (publ) has entered into a commercial cooperation agreement with SMA Mineral AB (“SMA”), one of the largest lime producers in the Nordic region, to start manufacturing green lime. As part of the collaboration, SaltX has carried out a directed issue to SMA which contributes approximately SEK 73 million to SaltX.

SaltX develops and sells patented energy storage solutions. SaltX works to develop and offer sustainable technology and solutions that benefit customers, the climate, and the society.

TM & Partners acted as legal advisor to SaltX in connection with the cooperation agreement and the directed share issue and Stockholm Corporate Finance AB acted as financial advisor in connection with the directed share issue. TM & Partners’ team consisted mainly of Johan Wigh (Partner) and Jacob Elovsson Hultin (Associate).

TM & Partners has advised Vivesto in connection with a fully secured rights issue of SEK 151 million

TM & Partners has advised Vivesto AB in connection with a fully guaranteed rights issue of SEK 151 million. Danske Bank A/S, Sverige filial acted as financial adviser and Sole Bookrunner in connection with the rights issue.

Vivesto is a specialty pharmaceutical company focused on the development of new therapeutic options for patients suffering from hard-to-treat cancers. The company has proprietary drug delivery technology designed to improve solubility, efficacy and safety. Vivesto’s shares are listed on Nasdaq Stockholm.

TM & Partners’ team consisted of Johan Wigh (Partner), Jacob Elovsson Hultin (Associate), Philip Bihl (Associate) and Emily Frempomaa (Associate).

TM & Partners has assisted Fuud in connection with the signing of agreements regarding the acquisition of GI-boxen and Foodbox

TM & Partners has assisted FUUD AB (publ) in connection with the signing of agreements regarding the acquisition of all shares in GI-boxen Sweden AB and Foodbox Scandinavia AB.

GI-boxen is a fast-growing company in E-commerce of healthy food. GI-boxen sells a selection of nutritious and tasty frozen ready-made dishes with a balance of proteins, natural fats and healthy carbohydrates. Foodbox is a company within the segment of exercise and health with over 450 retailers in Sweden. The company sells a selection of 13 healthy ready-made dishes, which are sold in the company’s own freezers in gyms, sports halls and other training facilities across the country. The dishes are created to promote an active life for those who want to feel good and get in shape.

For further information, please see press release.

TM & Partners’ team was led by partners Vaiva Eriksson and Johan Wigh, assisted by associates Sofia Lindh, Tom Bovaller, Philip Bihl, Jacob Elovsson Hultin, Sara Jacobson, Cecilia Bergman, Markus Ellström and Alexandra Rosell.

TM & Partners advisor in connection with the distribution and listing of Careium at Nasdaq First North Growth Market

TM & Partners has advised Careium AB (publ) (“Careium”) and DORO AB (“Doro”) in connection with the distribution of all shares in Careium to the shareholders of Doro, and the subsequent listing of Careium’s shares on Nasdaq First North Growth Market. Trading with Careium’s shares on Nasdaq First North Growth Market commenced on 10 December 2021.

Careium, formerly Doro’s business area Doro Care, is one of the leading players in technology-enabled care in Europe. Careium’s offering in the field of technology-enabled care is broad; software platform, in-home and mobile social alarms, remote monitoring and alarm response are offered to public operators, civil society and private companies. The company provides its services to more than 400,000 seniors in Sweden, Norway, the Netherlands and the United Kingdom, the majority being connected to Careium’s six alarm centers, where more than 25,000 alarms are handled every day.

TM & Partners’ teams consisted mainly of:

• Johan Wigh (partner)
• Philip Bihl (associate)
• Jacob Elovsson Hultin (associate)
• Emily Frempomaa (associate)

TM & Partners has advised Hilbert Group AB in connection with its listing on Nasdaq First North Growth Market

TM & Partners has advised Hilbert Group AB in connection with the listing of the company’s shares on Nasdaq First North Growth Market. The trading in the company’s shares on Nasdaq First North Growth Market commenced on 27 October 2021.

Hilbert Group is an investment firm with sole focus on digital assets, primarily cryptocurrencies and blockchain technologies. The business model is diversified into four verticals – asset management, proprietary trading, equity investments and data & analytics. Hilbert Group’s vision is to be a world class digital asset investment firm with the ambition to provide first class services to its clients and shareholders, to help accelerate the technological revolution that is digital assets, and to expand people’s knowledge of this emerging asset class.

TM & Partners’ team consisted of:

• Sandra Broneus (Partner, Capital Markets)
• Hanna Hillgren (Associate, Capital Markets)
• Jacob Elovsson Hultin (Associate, Capital Markets)
• Cecilia Bergman (Senior Associate, Employment)
• Alexandra Rosell (Associate, Tech)

TM & Partners has advised Zaver (Frink AB) in connection with capital raising

TM & Partners has advised fintech company Zaver in connection with a MSEK 114 funding round. The investors include Fredrik Österberg and Jens von Bahr (co-founders of Evolution Gaming), Magnus Rausing (Tetra Pak heir), the Wattin family via Inbox Capital, Joen Bonnier (partner at Atomico), Tom Dinkelspiel, Bo Mattsson (founder of Cint) and Fabian Hielte, Maximilian Hobohm and Johannes Hobohm (co-owners of the Ernström group).

Zaver develops next-generation digital payment solutions that allow enterprises to offer their customers cardless direct payments and BNPL (Buy Now Pay Later). The company is a Swedish payment institution under the supervision of the Swedish Financial Supervisory Authority.

TM & Partners team comprised partners Vaiva Eriksson and Eva Sundling and associate Jacob Elovsson Hultin.

For press coverage see articles in Dagens Industri and Breakit.

TM & Partners has advised Aprendere Skolor AB (publ) in connection with its listing on Nasdaq First North Growth Market

TM & Partners has advised Aprendere Skolor AB (publ) in connection with the listing of the company’s shares on Nasdaq First North Growth Market that commenced on 28 September 2021.

Aprendere Skolor is an independent operator that, through its parent company and its subsidiaries, conducts a total of 11 activities within elementary school, elementary special school, upper secondary special school, upper secondary school and HVB residential care homes including elementary school. Aprendere Skolor was founded in 2008 by the brothers Lars Tunberg and Carl Tunberg. Aprendere Skolor currently has almost 900 students and 240 employees. Most of the schools are located in Stockholm County and the surrounding area.

TM & Partners’ team consisted mainly of Sandra Broneus (Partner, Capital Markets), Jacob Elovsson Hultin (Associate, Capital Markets), Mark Gebert (Associate, Real Estate), Alexandra Rosell (Associate, Tech) and Lisa Ericsson (Counsel, Employment).

TM & Partners has advised Clean Industry Solutions Holding Europe AB in connection with its change of listing to Nasdaq First North Growth Market

TM & Partners has advised Clean Industry Solutions Holding AB in connection with its change of listing from Spotlight Stock Market to Nasdaq First North Growth Market. The trading in the company’s shares on Nasdaq First North Growth Market commenced on 12 July 2021.

Clean Industry Solutions Holding AB invests in independently operating innovative companies which provide solutions for a sustainable industry and a circular economy. The current two subsidiaries, Industrial Solar GmbH and SolarSpring GmbH, offer solutions for the supply of clean energy and clean water for industry.

TM & Partners’ team consisted of Sandra Broneus (Partner, Capital Markets), Philip Bihl (Associate, Capital Markets), Jacob Elovsson Hultin (Associate, Capital Markets), Lisa Ericsson (Counsel, Employment) and Mikaela Nordh (Associate, Banking & Finance).

TM & Partners has advised Freemelt Holding AB (publ) in connection with its listing on Nasdaq First North Growth Market

TM & Partners has advised Freemelt Holding AB (publ) in connection with the listing of the company’s shares on Nasdaq First North Growth Market that commenced on 7 July 2021.

Freemelt Holding AB (publ) is active in metal 3D-printing. The company produces, markets and sells Freemelt ONE, an advanced electron beam-based 3D-printer for research and development. Furthermore, the company is currently developing a new 3D-printer, based on the same technology, to be used for industrial manufacturing.

TM & Partners’ team consisted mainly of Sandra Broneus (Partner, Capital Markets), Jacob Elovsson Hultin (Associate, Capital Markets), Andreas Sahlstedt (Associate, Real Estate), Alexandra Rosell (Associate, Tech) and Lisa Ericsson (Counsel, Employment).

TM & Partners has advised LL Lucky Games AB (publ) in connection with its listing on Nasdaq First North Growth Market

TM & Partners has advised LL Lucky Games AB (publ) in connection with the listing of the company’s shares on Nasdaq First North Growth Market that commenced on 23 June 2021 and the issue of units of approximately MSEK 19.9 that was carried out in connection with the listing, which was subscribed for 555 percent.

LL Lucky Games AB (publ) designs and develops video slots (digital slot machines) with a focus on gaming experiences for players around the world, through agreements with gaming operators. The goal is to develop innovative games with focus on gaming experience and gaming atmosphere. The company’s game portfolio contains a balanced combination of video slots with different game themes and entertainment values.

TM & Partners’ team consisted mainly of Sandra Broneus (Partner, Capital Markets), Hanna Hillgren (Associate, Capital Markets), Jacob Elovsson Hultin (Associate, Capital Markets) and Cecilia Bergman (Senior Associate, Employment).

TM & Partners has advised Frill Holding AB (publ) in connection with the acquisition of all shares in JUICA Sverige AB and B8 SVERIGE AB (Beijing8)

Juica produces and sells organic, additive-free, cold-pressed and unpasteurized fruit and vegetable juices under the brands Juica and Juicekultur. The company’s products are sold in the FMCG (Fast Moving Consumer Goods) and service sectors, to hotels, restaurants and catering business as well as through own and external e-commerce channels. For more information about the acquisition of Juica, see press release.

Beijing8 produces and sells dumplings and related products, including sauces, beverages and cooking utilities. The products are sold in the FMCG (Fast Moving Consumer Goods) sector and own restaurants in the Nordic region. In 2020, the company produced and sold over 6 million dumplings, making it one of the largest brands of dumplings in Europe. For more information about the acquisition of Beijing8, see press release.

TM & Partners’ team consisted of partners Vaiva Eriksson and Sandra Broneus and associates Philip Reznik, Tom Bovaller, Philip Bihl, Jacob Elovsson Hultin, Cecilia Bergman, Andreas Sahlstedt and Mark Gebert.

TM & Partners legal advisor to SaltX Technology Holding AB (publ) in connection with its private placement of shares

SaltX Technology Holding AB (publ) (”SaltX”) has completed a private placement of shares through an accelerated book building procedure, performed by Pareto Securities AB, raising approximately SEK 60 million before transaction costs.

SaltX develops and sells patented energy storage solutions based on nanocoated salts. The company’s mission is to develop and offer sustainable technology and solutions that will clearly benefit customers, the climate and society. SaltX’s energy storage solution, EnerStore, is a large-scale energy storage solution that stores energy in different forms and generates heat, steam, and electricity to cities and/or industries, enabling transportation of energy. EnerStore is a thermo-chemical storage solution based on SaltX’s unique patented nanocoated salt.

TM & Partners acted as legal advisor to SaltX in connection with the directed issue. TM & Partners’ team consisted of:

• Johan Wigh (Partner)
• Philip Bihl (Associate)
• Jacob Elovsson Hultin (Associate)

Pareto Securities AB acted as Sole Manager and Bookrunner in connection with the directed new issue.

TM & Partners has assisted Frill Holding AB (publ) in the acquisition of Kling Homie and Nathalie’s Direct Trade, as well as a directed convertible issue

TM & Partners has assisted Frill Holding AB (publ) in the acquisition of all shares in Kling Homie AB and Nathalie’s Direct Trade AB, as well as a directed convertible issue of a maximum SEK 85 million.

Kling Homie is a fast-growing Swedish lifestyle brand that works to optimize diet and health. The company’s product range, which includes nutritional supplements, functional and energy drinks, dietary supplements and other health products, is sold at over 700 retailers, including some of Sweden’s major e-commerce platforms and food chains.

Nathalie’s Direct Trade markets and sells healthy snacks that the company buys directly from farmers in Colombia. Nathalie’s Direct Trade is a member of the UN program UNDP – Business Call To Action. In 2020, the company grew by 72 percent.

To finance the acquisitions and a continued strong expansion, Frill has decided to raise a convertible loan in a maximum amount of SEK 85 million through a directed issue of convertibles to a number of qualified investors.

For more information about the acquisitions and the convertible issue, see press release.

TM & Partners’ team was led by:

• Vaiva Eriksson (Partner)
• Sandra Broneus (Partner)
• Philip Reznik(Associate)
•  Tom Bovaller (Associate)
• Philip Bihl (Associate)
• Jacob Elovsson Hultin (Associate)

Listings of Special Purpose Acquisition Companies (“SPACs”) in Sweden

Johan Wigh, Sebastian Hellesnes and Jacob Elovsson Hultin analyse important legal issues regarding listings of so-called Special Purpose Acquisition Companies (“SPACs”) in Sweden.

Listings of Special Purpose Acquisition Companies (“SPACs”) have been popular in the US for a long time, including in the last decade. Despite high activity in the Swedish IPO market, with record breaking numbers of transaction and great demand for new IPOs (also for companies that are in early phase and not yet profitable), SPACs have yet to be introduced in Sweden. We have, however, noted an increased interest from clients around the possibility to launch a Swedish SPAC and in this memorandum, we outline the basic concept of a SPAC and describe key issues/hurdles to be considered in relation to Swedish SPAC listing projects.

Read the article here.

TM & Partners has advised NetNordic in connection with its acquisition of Bolero

TM & Partners has advised NetNordic, an independent system integrator with majority owner Norvestor, in connection with its acquisition of Bolero. Bolero is an established Swedish provider of services related to cloud, cyber security, analytics, network and data centre and a number of areas within system development. Bolero has 80 employees and a significant number of sub-consultants servicing the company’s customer base. The headquarters is located in Stockholm, with offices in Gothenburg and Linköping. Both NetNordic and Bolero primarily work with large and medium-sized customers in both the public and private sectors. Last financial year revenues of Bolero were SEK 270 million. Management shareholders in Bolero are reinvesting in NetNordic. 

TM & Partners’ team was led by Sten Hedbäck (Partner) and Philip Reznik (Senior Associate) and included Fredrik Gustafsson (Partner), Lisa Ericsson (Counsel), Anna Elheim Sylten(Associate), John Park (Associate), Jacob Elovsson Hultin (Associate) and Andreas Sahlstedt(Associate).

TM & Partners has assisted Priveq Investment in its acquisition of a majority stake in the fast-growing language and media technology company Plint

TM & Partners has assisted Priveq Investment in its acquisition of a majority stake in the fast-growing language and media technology company Plint in Gothenburg. Plint, which works closely with streaming giant Netflix, has grown from SEK 11m to SEK 236m in five years. Apart from Netflix, customers also include Amazon, Viacom, Volvo, IKEA and H&M.

For more information about this transaction please see the press release here.

TM & Partners’s team consisted of:

• Per Granström (Partner M&A)
• Philip Reznik (Senior Associate M&A)
• Anna Elheim Sylten (Associate M&A)
• Jacob Elovsson Hultin (Associate M&A)
• Fredrik Gustafsson (Partner Tech)
• John Park (Associate Tech)
• Cecilia Bergman(Associate Employment)
• Cecilia Rudels (Partner Banking & Finance)
• Marcus Kern Fahlander (Associate  Banking & Finance)
• Louise Ekdahl (Associate Banking & Finance)
• Andreas Sahlstedt (Associate Real Estate)

TM & Partners has advised Posti Group in connection with the acquisition of Aditro Logistics

TM & Partners has advised Posti Group Oyj in connection with the acquisition of Aditro Logistics Holding AB from Valedo Partners Fund II AB.

Posti is the leading postal and logistics service company in Finland with net sales in 2018 of approx. EUR 1.6 billion and approx. 22,000 employees. The acquisition of Aditro Logistics strengthens Posti’s presence in the Nordics and the Baltic Sea region and increases its growth within logistics services.

Aditro Logistics offers a broad portfolio of logistics services such as warehousing, staffing and transportation services. The group has six warehouses in Sweden and one in Norway, with a total of approx. 230,000 m2 of storage space, approx. SEK 1.1 billion in net sales and approx. 1,100 full-time employees.

Törngren Magnell’s consisted of:

• Vaiva Eriksson (Partner, M&A)
• Sten Hedbäck (Partner, M&A)
• Mikael Ahlberg (Associate, M&A)
• Bruce McGinn (Counsel, M&A)
• Lisa Ericsson (Counsel, Employment)
• Fredrik Gustafsson (Partner, Tech)
• John Park(Associate, Tech)
• Johan Aronsson (Associate, Real Estate)
• Marcus Kern Fahlander (Associate, Banking & Finance)
• Sara Jacobson (Associate, M&A)
• Jacob Elovsson Hultin(Associate, M&A)