Following a rights issue that was 61% oversubscribed, BeammWave has completed a subsequent directed issue, raising total gross proceeds of approximately SEK85m. In Redeye’s view, these transactions significantly strengthen the company’s balance sheet and mitigate the primary remaining investment risk. Despite the dilution, Redeye keeps its fair value range, judging the substantial reduction in financing risk to be a key compensating factor. Redeye believes the shares are more likely to be valued above its Base Case as the company progresses towards volume production.
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