Controlant closed a private placement of convertible bonds yesterday, amounting to 1,250m ISK, equivalent to approximately $10m USD.
Reykjavik (March 3, 2020) — Controlant closed a private placement of convertible bonds yesterday, amounting to 1,250m ISK, equivalent to approximately $10m USD. Arion Bank Corporate Finance managed the placement. Current shareholders subscribed for approximately 40 percent of the offering. The bonds are partly convertible into equity.
Controlant develops real-time solutions that monitor the temperature, location, and other environmental conditions of temperature-controlled products while they are in transit and during storage. Controlant’s data analytics are enabling enterprises to prevent waste, ensure product quality and safety, and deliver a return on investment. The company aims to have contracts with six to eight of the world's largest pharmaceutical companies by the end of 2020.
Controlant is an ISO 9001 company, headquartered in Reykjavik, Iceland with an operational presence in the USA, Ireland, Denmark, Switzerland, and the UK.
Watch our presentation live on Wednesday 28 February at 11:20 CET as we present the Saga Card on stage at Mobile World Congress with Deutsche Telekom in Barcelona. The link will be shared below and on our homepage.
Controlant affirms its commitment to environmental transparency by disclosing its environmental impact through the Climate Disclosure Project (CDP), a global non-profit that runs the world’s leading environmental disclosure platform. In the first year of rating, CDP rates Controlant B- for its coordinated action on climate issues.
Controlant has been rated Silver in its 2024 EcoVadis sustainability assessment, placing the company among the top 15% of over 125,000 rated companies across industries. The Silver rating is a significant achievement in the second assessment year for Controlant, bumping the company up from a Bronze rating in the previous year. The rating is in line with Controlant ambitions to become a sustainability leader.