Smoltek Nanotech Holding AB: Smoltek initiates deepened collaboration with the technology consulting company Qamcom

2023-03-09 17:15:00

The Smoltek group's organization is growing steadily and the company has on several occasions collaborated with the technology consulting company Qamcom to call on specialists within certain development projects.

As Smoltek's semiconductor and hydrogen business areas approach the market with their first products - ultra-thin capacitors for application processors in mobile phones and high-performance cell material for electrolyzers - the collaboration between Smoltek and Qamcom is now deepened. The collaboration ensures that Smoltek will continue to have access to experienced technical consultants with specific skill sets to the extent necessary at attractive terms for both parties. Smoltek's foundational R&D operations will also be able to gain access to reinforcement from external consultants within the general development of the company's nanotechnology platform.

To ensure good cost-effectiveness for Smoltek and create a common driving force for both parties to work goal-focused, the parties have agreed on a compensation model where Smoltek only pays Qamcom's net cost in cash for the consultants used during a certain calendar month. The difference between net cost and market price is recognized as a liability, and such liability will then be settled through future directed issues to Qamcom with payment through offsetting of Qamcom's outstanding claims. The subscription price in such a directed issue will take into account the volume-weighted price of Smoltek's share during the calendar month to which the cost is attributable. At the time of the issue, these determined respective subscription prices are then summed up, which in practice could lead to the subscription price in the directed issues becoming lower as well as higher than the share price at the time of the issue, depending on the development of the share price.

Below, a fictitious scenario is described based on an exemplary outcome in terms of the offsetable fee and the volume-weighted average share price.

Month Offset table fee VWAP Number of shares
1 100,000.00 SEK    7.00 SEK 14,286
2 100,000.00 SEK    9.00 SEK 11,111
3 100,000.00 SEK  11.00 SEK 9,091
4 100,000.00 SEK  13.00 SEK 7,692
5 100,000.00 SEK  15.00 SEK 6,667
6 100,000.00 SEK  17.00 SEK 5,882
In total 600,000.00 SEK  10.96 SEK 54,729

The above would mean that if Smoltek carries out an offset issue after month 6, such a new issue would include 54,729 shares at a subscription price of 10.96 SEK. The share price at the time of the issue would then likely be higher than the subscription price in the issue.

Qamcom is a leading research and technology company with deep competence within technology development. The company has extensive experience of working within the framework of partnerships with global product companies.