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Sweden
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3826
|
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Not applicable
|
|
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(State or other jurisdiction of
incorporation or organization) |
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(Primary Standard Industrial
Classification Code Number) |
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(I.R.S. Employer
Identification Number) |
|
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Kristopher D. Brown
Stephanie A. Richards Goodwin Procter LLP 620 Eighth Avenue New York, New York 02109 (212) 813-8800 |
| |
Annika Melin Jakobsson
Mats Dahlberg Advokatfirman Delphi KB Mäster Samuelsgatan 17, P.O. Box 1432 SE-111 84 Stockholm, Sweden +46 8 677 54 00 |
| |
Richard Segal
Charles Kim Eric Blanchard Madison A. Jones Cooley LLP 500 Boylston Street Boston, Massachusetts 02116 (617) 973-2300 |
| |
Emil Hedberg
Ylva Forsberg Advokatfirmaet Schjødt AS, filial Hamngatan 27 P.O. Box 715 SE-101 33 Stockholm, Sweden +46 8 505 501 00 |
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Title of each class of securities
to be registered |
| | |
Proposed
maximum aggregate offering price(1) |
| | |
Amount of
registration fee(2) |
| |||
Common shares, quota value SEK 1.00 per share(3)
|
| | |
$
|
| | | | $ | | |
| | |
Page
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| |||
| | | | i | | | |
| | | | ii | | | |
| | | | 1 | | | |
| | | | 12 | | | |
| | | | 14 | | | |
| | | | 60 | | | |
| | | | 62 | | | |
| | | | 63 | | | |
| | | | 66 | | | |
| | | | 64 | | | |
| | | | 67 | | | |
| | | | 69 | | | |
| | | | 71 | | | |
| | | | 91 | | | |
| | | | 131 | | | |
| | | | 137 | | | |
| | | | 139 | | | |
| | | | 140 | | | |
| | | | 146 | | | |
| | | | 157 | | | |
| | | | 159 | | | |
| | | | 165 | | | |
| | | | 170 | | | |
| | | | 171 | | | |
| | | | 171 | | | |
| | | | 172 | | | |
| | | | 173 | | | |
| | | | F-1 | | |
Amounts in thousands of U.S. Dollars
(except per share amounts) |
| |
Successor
For the period from January 4, 2019 through December 31, 2019 |
| | |
Predecessor
For the period from January 1, 2019 through March 7, 2019 |
| ||||||
Revenue
|
| | | $ | 41,693 | | | | | | $ | 4,625 | | |
Cost of goods sold
|
| | | | (13,018) | | | | | | | (1,254) | | |
Gross profit
|
| | | | 28,675 | | | | | | | 3,371 | | |
Selling expenses
|
| | | | (8,247) | | | | | | | (9,011) | | |
Administrative expenses
|
| | | | (26,609) | | | | | | | (709) | | |
Research and development expenses
|
| | | | (4,845) | | | | | | | (1,676) | | |
Other operating income
|
| | | | 363 | | | | | | | 310 | | |
Operating loss
|
| | |
|
(10,663)
|
| | | | |
|
(7,715)
|
| |
Financial income
|
| | | | 7 | | | | | | | 242 | | |
Financial expenses
|
| | | | (7,874) | | | | | | | (27) | | |
Loss before tax
|
| | | | (18,530) | | | | | | | (7,500) | | |
Income tax
|
| | | | 652 | | | | | | | (332) | | |
Net loss for the period (Attributable to shareholders of the Parent)
|
| | | $ | (17,878) | | | | | | $ | (7,832) | | |
Weighted average number of shares (thousands)(1)
|
| | | | 35,274 | | | | | | | 171 | | |
Basic and diluted loss per share(1)
|
| | | $ | (0.83) | | | | | | $ | (45.80) | | |
Weighted average number of shares (thousands) used to compute
pro forma loss per share(2) |
| | | | | | | | | | | | | |
Pro forma basic and diluted loss per share(2)
|
| | | | | | | | | | | | | |
Amounts in thousands of U.S. Dollars
|
| |
Successor
As of December 31, 2019 |
| |
Pro Forma(1)
|
| |
Pro Forma
As Adjusted(2)(3) |
| |||||||||
Cash at bank and in hand
|
| | | $ | 6,162 | | | | | $ | | | | | $ | | | ||
Total assets
|
| | | | 346,919 | | | | | | | | | | | | | | |
Total equity attributable to shareholders of the
Parent |
| | | | 205,966 | | | | | | | | | | | | | | |
Non-Current interest-bearing loans and borrowings
|
| | | | 56,278 | | | | | | | | | | | | | | |
Total liabilities
|
| | | | 140,953 | | | | | | | | | | | | | | |
Total liabilities and shareholders’ equity
|
| | | | 346,919 | | | | | | | | | | | | | | |
| | |
As of December 31, 2020
|
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| | |
Actual
|
| |
Pro Forma
|
| |
Pro Forma As
Adjusted(1) |
| |||||||||
| | |
(Amounts in thousands of U.S. Dollars)
|
| |||||||||||||||
Cash at bank and in hand
|
| | | $ | | | | | $ | | | | | $ | | | |||
Shareholders’ equity
|
| | | | | | | | | | | | | | | | | | |
Share capital
|
| | | | | | | | | | | | | | | | | | |
Other contributed capital
|
| | | | | | | | | | | | | | | | | | |
Reserves
|
| | | | | | | | | | | | | | | | | | |
Accumulated losses
|
| | | | | | | | | | | | | | | | | | |
Total equity attributable to shareholders of the Parent
|
| | | | | | | | | | | | | | | | | | |
Total capitalization
|
| | | $ | | | | | | $ | | | | | | $ | | | |
|
Assumed initial public offering price per ADS
|
| | | $ | | | |
|
Historical net tangible book value per ADS as of December 31, 2020
|
| | | | | | |
|
Increase (decrease) in net tangible book value per ADS attributable to the
Restructuring |
| | | | | | |
|
Pro forma net tangible book value per ADS as of December 31, 2020
|
| | | | | | |
|
Increase in pro forma net tangible book value per ADS attributable to new investors
|
| | | | | | |
|
Pro forma as adjusted net tangible book value per ADS as of December 31, 2020
|
| | | | | | |
|
Dilution per ADS to new investors participating in this offering
|
| | | $ | | | |
| | |
Shares or ADSs(1)
Purchased |
| |
Total
Consideration |
| |
Average
Price per Share |
| |
Average
Price per ADS |
| |||||||||||||||||||||
| | |
Number
|
| |
Percent
|
| |
Amount
|
| |
Percent
|
| |||||||||||||||||||||
Existing shareholders
|
| |
|
| | | | % | | | | | $ | | | | | | % | | | | | $ | | | | | $ | | | |||
New investors
|
| | | | | | | % | | | | | $ | | | | | | % | | | | | $ | | | | | $ | | | |||
Total
|
| | | | | | | 100% | | | | | $ | | | | | | 100% | | | | | $ | | | | | $ | | | |
Amounts in thousands of U.S. Dollars
(except per share amounts) |
| |
Successor
For the period from January 4, 2019 through December 31, 2019 |
| | |
Predecessor
For the period from January 1, 2019 through March 7, 2019 |
| ||||||
Revenue
|
| | | $ | 41,693 | | | | | | $ | 4,625 | | |
Cost of goods sold
|
| | | | (13,018) | | | | | | | (1,254) | | |
Gross profit
|
| | | | 28,675 | | | | | | | 3,371 | | |
Selling expenses
|
| | | | (8,247) | | | | | | | (9,011) | | |
Administrative expenses
|
| | | | (26,609) | | | | | | | (709) | | |
Research and development expenses
|
| | | | (4,845) | | | | | | | (1,676) | | |
Other operating income
|
| | | | 363 | | | | | | | 310 | | |
Operating loss
|
| | | | (10,663) | | | | | | | (7,715) | | |
Financial income
|
| | | | 7 | | | | | | | 242 | | |
Financial expenses
|
| | | | (7,874) | | | | | | | (27) | | |
Loss before tax
|
| | | | (18,530) | | | | | | | (7,500) | | |
Income tax
|
| | | | 652 | | | | | | | (332) | | |
Net loss for the period (Attributable to shareholders of the Parent)
|
| | | $ | (17,878) | | | | | | $ | (7,832) | | |
Weighted average number of shares (thousands)(1)
|
| | | | 35,274 | | | | | | | 171 | | |
Basic and diluted loss per share(1)
|
| | | $ | (0.83) | | | | | | $ | (45.80) | | |
Amounts in thousands of U.S. Dollars
|
| |
Successor
As of December 31, 2019 |
| |||
Cash at bank and in hand
|
| | | $ | 6,162 | | |
Total assets
|
| | | | 346,919 | | |
Total equity attributable to shareholders of the Parent
|
| | | | 205,966 | | |
Non-Current interest-bearing loans and borrowings
|
| | | | 56,278 | | |
Total liabilities
|
| | | | 140,953 | | |
Total liabilities and shareholders’ equity
|
| | | | 346,919 | | |
Amounts in thousands of U.S. Dollars
|
| |
Successor
For the period from January 4, 2019 through December 31, 2019 |
| | |
Predecessor
For the period from January 1, 2019 through March 7, 2019 |
| ||||||
Revenue
|
| | | $ | 41,693 | | | | | | $ | 4,625 | | |
Cost of goods sold
|
| | | | (13,018) | | | | | | | (1,254) | | |
Gross profit
|
| | | | 28,675 | | | | | | | 3,371 | | |
Selling expenses
|
| | | | (8,247) | | | | | | | (9,011) | | |
Administrative expenses
|
| | | | (26,609) | | | | | | | (709) | | |
Research and development expenses
|
| | | | (4,845) | | | | | | | (1,676) | | |
Other operating income
|
| | | | 363 | | | | | | | 310 | | |
Operating loss
|
| | | | (10,663) | | | | | | | (7,715) | | |
Financial income
|
| | | | 7 | | | | | | | 242 | | |
Financial expenses
|
| | | | (7,874) | | | | | | | (27) | | |
Loss before tax
|
| | | | (18,530) | | | | | | | (7,500) | | |
Income tax
|
| | | | 652 | | | | | | | (332) | | |
Net loss for the period (Attributable to shareholders of the Parent)
|
| | | $ | (17,878) | | | | | | $ | (7,832) | | |
Amounts in thousands of U.S. Dollars, unless otherwise
stated |
| |
Successor
For the period from January 4, 2019 through December 31, 2019 |
| | |
Predecessor
For the period from January 1, 2019 through March 7, 2019 |
| ||||||
Total Constant Currency Revenue Growth(1)
|
| | | | — | | | | | | | — | | |
Adjusted EBITDA(1)
|
| | | $ | 17,581 | | | | | | $ | 445 | | |
Adjusted Gross Profit(1)
|
| | | $ | 31,242 | | | | | | $ | 3,371 | | |
Adjusted Gross Profit %(1)
|
| | | | 74.9% | | | | | | | 72.9% | | |
| | |
For the year ended December 31,
|
| |||||||||
Amounts in thousands of U.S. Dollars, unless otherwise stated
|
| |
2020
|
| |
2019(1)
|
| ||||||
Revenue
|
| | | $ | | | | | $ | | | ||
Revenue period-over-period growth rate
|
| | | | % | | | | | | | | |
Estimated impact of foreign currency exchange rate fluctuations.
|
| | | | % | | | | | | | | |
Total constant currency revenue growth
|
| | | | % | | | | | | | | |
Amounts in thousands of U.S. Dollars
|
| |
Successor
From January 4, 2019 through December 31, 2019 |
| | |
Predecessor
From January 1, 2019 through March 7, 2019 |
| ||||||
Operating loss
|
| | | $ | (10,663) | | | | | | $ | (7,715) | | |
Add: | | | | | | | | | | | | | | |
Amortization
|
| | | | 7,836 | | | | | | | 1 | | |
Depreciation
|
| | | | 1,321 | | | | | | | 220 | | |
EBITDA
|
| | | | (1,506) | | | | | | | (7,494) | | |
Acquisition related costs
|
| | | | 14,666 | | | | | | | — | | |
Management adjustments
|
| | | | 4,421 | | | | | | | 7,939 | | |
Adjusted EBITDA
|
| | | $ | 17,581 | | | | | | $ | 445 | | |
Amounts in thousands of U.S. Dollars, unless otherwise stated
|
| |
Successor
From January 4, 2019 through December 31, 2019 |
| | |
Predecessor
From January 1, 2019 through March 7, 2019 |
| ||||||
Revenue
|
| | | $ | 41,693 | | | | | | $ | 4,625 | | |
Cost of goods sold
|
| | | | (13,018) | | | | | | | (1,254) | | |
Gross profit
|
| | | | 28,675 | | | | | | | 3,371 | | |
Gross profit %
|
| | | | 68.8% | | | | | | | 72.9% | | |
Less: | | | | | | | | | | | | | | |
Inventory Fair Value Step Up
|
| | | | 2,567 | | | | | | | — | | |
Adjusted Gross Profit
|
| | | $ | 31,242 | | | | | | $ | 3,371 | | |
Adjusted Gross Profit %
|
| | | | 74.9% | | | | | | | 72.9% | | |
Amounts in thousands of U.S. Dollars
|
| |
Successor
For the period from January 4, 2019 through December 31, 2019 |
| | |
Predecessor
For the period from January 1, 2019 through March 7, 2019 |
| ||||||
Revenue
|
| | | $ | 41,693 | | | | | | $ | 4,625 | | |
Cost of goods sold
|
| | | | (13,018) | | | | | | | (1,254) | | |
Gross profit
|
| | | | 28,675 | | | | | | | 3,371 | | |