Freemelt, Mölndal, Sweden, has been approved by Nasdaq Stockholm AB to trade on the Nasdaq First North Growth Market. The company will be traded as ‘FREEM’ from July 7, 2021. The company’s share capital amounts to SEK 1,830,000 divided into a total of 36,600,000 shares.
Founded in 2017, Freemelt has developed new patent-pending metal AM technology and Freemelt ONE, an advanced Electron Beam Powder Bed Fusion (PBF-EB) machine optimised for the development of new metal materials. Since the machine’s inception in 2019, it has been sold and delivered to several customers.
In 2020, the Freemelt’s net sales amounted to approximately SEK 6.4 million, with a loss of approximately SEK 4.4 million. As of December 31, 2020, the company’s total assets amounted to approximately SEK 33.7 million. During April 2021, the company carried out a pre-IPO issue which provided it with approximately SEK 85 million at a subscription price of SEK 10 per share.
Some of the company’s largest shareholders include Carlbergssjön AB, Industrifonden, Lindeblad Venture AB, Palmstierna Invest AB and Ola Rollén; today, Freemelt has approximately 5,000 shareholders. The board of directors, senior executives and major shareholders have decided not to sell any shares for a period of twelve months from the first day of trading on the Nasdaq First North Growth Market. The number of shares under lock-up corresponds to roughly 68% of all of Freemelt’s outstanding shares.
Ulric Ljungblad, CEO and co-founder of Freemelt, stated, “The recently completed investment round now gives us the opportunity to develop a powerful and cost-effective 3D printing system for the manufacturing industry to broaden our offering in line with our long-term strategy. The listing of Freemelt on Nasdaq First North Growth Market is an important step in the development of the Company, which will increase awareness of Freemelt and our products.”