Nasdaq Stockholm AB has approved Freemelt Holding AB‘s application for admission to trading of the Company’s shares on Nasdaq First North Growth Market. The company will be traded under the short name “FREEM” with ISIN code SE0011167170. The first day of trading is July 7, 2021.
“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,” said Freemelt CEO Ulric Ljungblad, “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,”
Freemelt was founded in 2017 by a team with very long and unique experience in metal 3D printing. The Company has developed new patent-pending technology and Freemelt ONE, an advanced 3D printer based on electron beam technology optimized for professional development of new metal materials, which has been sold and delivered to several customers.
In 2020, the Company’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. In April 2021, the Company carried out a pre-IPO issue which provided the Company with approximately SEK 85 million at a subscription price of SEK 10 / share.
The company’s 15 largest owners include Carlbergssjön AB, Industrifonden, Lindeblad Venture AB, Palmstierna Invest AB and Ola Rollén. As of today, Freemelt has approximately 5,000 shareholders. The Board of Directors, senior executives and major shareholders have, through a commitment to lock up, undertaken not to sell any shares for a period of twelve (12) months from the first day of trading on the Nasdaq First North Growth Market. The number of shares that are under lock-up corresponds to approximately 68 percent of all outstanding shares in the Company.
Freemelt uses Electron Beam Powder Bed Fusion (EB-PBF) technology with high power and high temperature for fast 3D printing in metal powder, which provides excellent material quality in manufactured parts. Freemelt’s next step is to develop a production system for 3D printing based on the electron beam technology developed for Freemelt ONE, which will be launched on the market in selected business areas. Aligning towards this next step, Freemelt’s Board of Directors believes that a listing creates the conditions for growth and accelerated value creation for shareholders, through increased interest in the Company from analysts, investors and the general public, both domestically and internationally.