ABG Sundal Collier acted as joint global coordinator in the SEK 656m IPO of MIPS on Nasdaq Stockholm

Deal announcement

MIPS AB successfully completed its IPO and started trading on Nasdaq Stockholm yesterday on 23 March. The Offer consisted of 12,399,372 shares, of which 9,138,502 were existing shares offered byBTA, HealthCap V L.P., KTH-Chalmers Capital KB and Almi Invest Stockholm (together the “Selling Shareholders”). In addition an additional 1,859,905 existing shares from the Selling Shareholders were over-allotted. The price in the offering was SEK 46 per share, corresponding to an equity value of MIPS after the offering of SEK 1,164m. Swedbank Robur Fonder, Tredje AP Fonden, Handelsbanken Fonder, C Worldwide
Asset Management, Lannebo Fonder and LMK Venture Partners acted as cornerstones in the IPO. The Offering attracted very strong interest from Swedish, Nordic and international institutional investors as well as the general public in Sweden. The share closed at SEK 51.50 the first day of trading, an increase of 12%.

About MIPS

MIPS is a Swedish company which specialises in helmet safety and brain protection. MIPS offers its MIPS Brain Protection System (BPS), which is based on patent protected solutions, marketed under the ingredient brand MIPS on the global market for helmet solutions protecting against rotational motion transferred to the brain from angled impacts to the head. MIPS considers itself to be a leader in this market. The MIPS BPS is designed to add protection in helmets against rotational motion. The main component of the MIPS BPS is the 2
MIPS low friction layer, which enables a relative movement between the head and the helmet, mimicking the brain’s own protection system. MIPS’ technology platform is based on more than 20 years of research and development in collaboration with the Royal Institute of Technology (KTH) and the Karolinska Institute. The MIPS BPS is easily implemented into new and existing helmet models, without affecting existing safety properties or design. Adopting the Company’s technology and the ingredient brand MIPS enables helmet brands to offer value-added, differentiated products with premium pricing. Helmets with the MIPS BPS have so far been sold within the helmet categories bicycle, snow, moto and equestrian. The Company estimates the combined annual volume of the consumer and professional helmet markets to exceed 70 million helmets.
During 2016, 45 helmet brands purchased the MIPS BPS, including brands such as Bell, Fox Head, Giro, Scott, Smith and Trek, to 212 helmet models. Between 2011–2016, MIPS delivered more than three million MIPS BPS units, mainly within the helmet categories bicycle and snow.