Flat is an investment company that focuses on growth stage companies with prominent entrepreneurs in leading positions and primarily makes investments through its network of world-class investors and entrepreneurs. The company was founded in 2013 by the entrepreneurs Nina and Sebastian Siemiatkowski (founder and CEO of Milkywire and Klarna, respectively).
Since the IPO three years ago, Flat has kept a fast pace and followed its strategy of investing in attractive but inaccessible global companies. These companies are an asset often reserved for an exclusive group of investors, but the strategy has given Flat’s shareholders the opportunity to indirectly invest in companies such as OpenAI, SpaceX, DeepL, Perplexity, xAI, Physical Intelligence and Figma.
The company has now decided on a rights issue of approximately SEK 80.0 million to further strengthen Flat’s cash position in order to continue to pursue the many investment opportunities that its portfolio and network offers, mainly in terms of existing investments within AI and the strong pipeline of potential investments therein. The shareholders Frankenius Noterat AB and Cicero Fonder have undertaken to subscribe for shares of SEK 30.0 million and approximately SEK 6.3 million, respectively. Additionally, Dusco AB (wholly owned by the Douglas Family), AltoCumulus (the asset management and family office part of the Axel Johnson Group), and Karolina Tham von Heidenstam have undertaken to subscribe for shares corresponding to their respective pro rata shares in the rights issue. In total, approximately SEK 55.0 million is secured through subscription undertakings, corresponding to approximately 69.0 per cent of the rights issue. The company has the possibility to increase the issuance amount by up to SEK 60.0 million if the rights issue is oversubscribed.
Augment is acting as financial advisor to Flat in connection with the rights issue.