Tallinn/Riga/Vilnius, Nasdaq Baltic Market, June 28, 2022 - Nasdaq (Nasdaq:
NDAQ) announces that shares of Cleveron Mobility (ticker: CLEV) have been
admitted to trading on the Nasdaq Baltic First North Market by Nasdaq Tallinn
as of today, June 28. Cleveron Mobility is an Estonian company developing and
manufacturing autonomous robot couriers.
The listing of the Cleveron Mobility shares follows the initial public offering
to Estonian investors. Based on demand for the shares of EUR 5.06 million, the
offering was slightly oversubscribed. A total of 6,734 investors subscribed to
the shares.
"We are glad to see the will and courage of Estonian entrepreneurs to bring
their companies to the public market has been increasing steadily. Cleveron
Mobility now has more than 6,700 co-owners who will be a part of the new
chapter in the company's growth story," said Kaarel Ots, CEO of Nasdaq Tallinn
stock exchange.
Sander Sebastian Agur, CEO of Cleveron Mobility, said the company is in a
strong growth phase and they decided to raise capital from the home market
first to achieve their goals. "First North, in a relatively short period of
time, allowed us to reliably list the company and provide liquidity to its
employees in the future, while giving new investors the opportunity to benefit
from the growth of our company," commented Agur.
Agur added that the capital will be used primarily for technology development
and entering foreign markets. "We invest the most in software development in
order to achieve the highest possible vehicle autonomy as soon as possible,
which is a prerequisite for the operation of the business model and enables the
scaling of services," said Agur.
The law firm Eversheds Sutherland Ots and Co advised the company in the listing
process and serves as the certified adviser for Cleveron Mobility on the First
North market.
Cleveron Mobility produces new generation autonomous vehicles with the aim of
making the delivery of goods to end consumers as efficient and environmentally
friendly as possible. The target customers of Cleveron Mobility are mainly
companies that transport different goods to end consumers - i.e. the companies
that operate as 'last mile delivery' service providers.
Nasdaq First North Market is tailored to support smaller, growing companies
that want to raise capital and get the visibility and credibility of being a
public company. For investors, First North offers an opportunity to invest in
companies that are at an earlier stage of their growth.
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital
markets and other industries. Our diverse offering of data, analytics, software
and services enables clients to optimize and execute their business vision with
confidence. To learn more about the company, technology solutions, and career
opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at nasdaq.com.
Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq
Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more:
nasdaqbaltic.com
Media Contacts:
Ott Raidla
Marketing and Communications Manager
Nasdaq Tallinn
ott.raidla@nasdaq.com
+372 5552 4824© 2022 GlobeNewswire
