The subscription period of the warrants “Minest TO1” issued in connection with Minesto’s IPO in November 2015 ran 1–28 February, 2017. In total, 11,931,743 new shares were subscribed, corresponding to a subscription rate of 90,7 percent. This means that Minesto will add a total of 75,2 SEK million in proceeds before issue costs.
According to Dr Martin Edlund, CEO of Minesto, the funding will mainly be used for the Holyhead Deep project in Wales as well as the continued development of the deep green technology.
Source: Minesto