Anoto raises additional USD 1 million on a sale of 1 million shares of Knowledge AI to further improve financial strength
Stockholm, 29 May 2023 – Anoto Group AB (publ) (“Anoto”) announces that it has sold 1 million shares of common stock of its education subsidiary Knowledge AI Holdings Ltd. (“KAIT”). The transaction was done at USD 12 million on a fully diluted basis. After the sale, Anoto will still own 4.3 million shares of Knowledge AI (47.8% on outstanding number of shares). The 1 million shares were sold to an investment company based in the United Kingdom.
“This is the final piece in our efforts to raise cash for Anoto. Once we are done with the offering and the sale of KAIT shares, we will raise a total of $6.7 million which will enable us to expand and grow. The sale of KAIT shares was intended to reduce dilution for Anoto shareholders and to achieve independent company status for KAIT for it to be self-sufficient and eliminate dependency on Anoto while maintaining a meaningful stake for Anoto in KAIT,” says Joonhee Won, CEO of Anoto Group AB.
For further information, please contac
Joonhee Won, CEO, Anoto Group AB (publ)
For more information about Anoto, please visit www.anoto.com or email ir@anoto.com
Anoto Group AB (publ), Reg.No. 556532-3929, Flaggan 1165, SE-116 74 Stockholm
This information constitutes inside information as Anoto Group AB (publ) is obliged to disclose under the EU Market Abuse Regulation 596/2014. The information was provided by the contact person above for publication 29 May 2023 at 08:30 CEST.
About Anoto Group
Anoto is a publicly held Swedish technology company known globally for innovation in the area of information-rich patterns and the optical recognition of those patterns. It is a leader in digital writing and drawing solutions, having historically used its proprietary technology to develop smartpens and related software. These smartpens enrich the daily lives of millions of people around the world. Anoto currently has three main business lines: Livescribe retail, Enterprise Forms and OEM. Anoto also owns Knowledge AI, a leading AI based education solution company, as its majority-controlled subsidiary. Anoto is traded on the Small Cap list of Nasdaq Stockholm under ANOT.
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