InCoax Networks AB (“InCoax” or the “Company”) has successfully raised in total 25 MSEK in the final days of October through a rights and directed share issue before an IPO. Furthermore, InCoax investigates the possibility of listing the Company´s shares to promote development and growth.
The capital raised will primarily be used for commercialization of the Company’s latest solution, In:xtnd™, which enables broadband with Gigabit speed in the existing coaxial network in apartments to the same quality as a pure fiber solution, but to a significantly lower cost. InCoax launched the In:xtnd ™ solution in June 2018 at the major cable TV exhibition Anga Com in Cologne, with great interest from potential customers. Since the exhibition, InCoax has been contacted by multiple potential customers and partners who want further product demonstrations.
InCoax has decided to investigate the possibility of listing its shares on a suitable trading platform. The listing is expected to promote the Company’s development and growth and will give InCoax a quality stamp. A listing of the company’s shares is also expected to have a positive impact on InCoax’s relationships with partners, deal flow and potential customers.
“I am very happy with the outcome of the capital raising. The outcome shows a great belief and interest in InCoax and our solutions, both from current shareholders and new investors. We believe that a listing of the Company’s shares is the next phase in the progression of the Company”, said Peter Carlsson, CEO of InCoax.