Flat Capital AB (publ) (“Flat”) has together with a group of prominent entrepreneurs signed an agreement to make a majority investment in Defensor Group AB (“Defensor”), a new Swedish industrial group with the ambition to build a leading player in the Nordic defense and security industry. Flat invests approx. 458 MSEK in Defensor, using cash available, for an ownership share of approx. 62.5 percent. Defensor simultaneously acquires 70 percent of the shares in ArmaTech i Kungsbacka Aktiebolag (“ArmaTech”) and 70 percent of the shares in SAFE4U Security Of Sweden AB (“SAFE4U”), two specialized defense companies with strong histories and unique positions in their respective fields
Flat Capital AB (publ) (“Flat”) publishes its interim report for January-June 2025 where the Net Asset Value per share amounts to 14.04 SEK per share, an increase of +30% compared to the previous quarter. The strong value development is mainly a result of positive value changes in the holdings; io Products, OpenAI, Perplexity, Harvey, xAI and Quartr, whose accumulated value adjustment amounts to approx. +159 MSEK, following new capital rounds. During the quarter, a new investment of approx. 10 MSEK was made in the AI company Pieces, an AI tool for developers with the goal of giving the user's computer its own memory. On the financing side, Flat carried out a new share issue, with preferential rights for existing B shareholders, with the aim of raising 300 MSEK in new capital. The issue was oversubscribed to 777 MSEK, corresponding to 260%, and the Board resolved to increase the issue amount through a directed issue of 299 MSEK, thus providing Flat with total issue proceeds of 599 MSEK before issue costs, which are estimated to amount to 7.5 MSEK, corresponding to 1.2% of the issue. The effect of the issue has been taken into account in the report, and the adjusted Net Asset Value (including proceeds from the issue) amounts to 1,372 MSEK, and implies a net cash position (including issue proceeds and costs) of 743 MSEK, corresponding to 54% of the Net Asset Value
Flat Capital AB (publ) (“Flat”) invests approx. 10 MSEK in the AI company Pieces (the “Company”) in connection with the company's latest capital raising. Pieces is an AI tool for developers with the goal of giving the user's computer its own memory by capturing, structuring and linking all relevant work context, such as code, documents and chats, to build and manage both real-time and long-term memory. Among the company's prominent investors is Drive Capital, a US VC fund run by Chris Olsen, former partner at Sequoia
Hanna Andreen, CEO of Flat Capital AB (publ), has informed the board that she wishes to step down from her role. The board will now initiate the process of recruiting a new CEO. Hanna will remain in her role as CEO during the six-month notice period. Sebastian Siemiatkowski, Chairman: “Hanna has been...
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