Intera Inc.

Austin, TX, United States

Intera Inc.

Austin, TX, United States

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Not for publication, distribution or release, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or Singapore or any other country where it would be against the law. The IPO of Kamux Corporation has been oversubscribed and the final subscription price is EUR 7.20 per share The Board of Directors of Kamux Corporation ("Kamux" or "the Company") have today decided on the completion of the initial public offering of Kamux. The final subscription price (the "Final Subscription Price") in the Offering (as defined below) is EUR 7.20 per Offer Share (as defined below), corresponding to a market capitalization of approximately EUR 287.9 million immediately following the Offering. The demand in the Offering was strong, and the Offering was oversubscribed. The Company's shares are expected to start trading on the pre-list of Nasdaq Helsinki Ltd (the "Helsinki Stock Exchange") on or about May 12, 2017. Kamux will issue 2,852,853 new shares in the Company (the "New Shares") (the "Share Issue"), corresponding to approximately 7.7 percent of the total number of the Company's shares outstanding before the Offering. In addition, Intera Fund II Ky ("Intera") and certain other shareholders of the Company (together with Intera, the "Sellers") will sell 14,398,327 existing shares in the Company (the "Sale Shares") (the "Share Sale", and together with the Share Issue, the "Offering"). 743,333 New Shares will be issued to private individuals and entities in Finland (the "Public Offering") and 1,999,700 New Shares and, in total, 16,398,027 Offer Shares will be allocated to institutional investors in Finland and internationally (the "Institutional Offering"), assuming full exercise of the Over-Allotment Option (as defined below). The commitments given in the Public Offering will be accepted in full. In addition, Kamux will issue 109,820 New Shares in the Personnel Offering (as defined below). All permanent employees of the Company or its wholly-owned subsidiaries on April 26, 2017 and the members of the Board of Directors of the Company (together the "Personnel"), excluding Sellers, have been offered an opportunity to participate in the offering (the "Personnel Offering"). The subscription price per share in the Personnel Offering is 10 percent lower than the Final Subscription Price in the Public Offering, i.e., EUR 6.48 per Offer Share. The commitments given in the Personnel Offering will be accepted in full. The Company will receive gross proceeds of approximately EUR 20.5 million from the Offering and the Sellers will receive gross proceeds of approximately EUR 103.7 million assuming full exercise of the Over-Allotment Option. The total number of the Company's outstanding shares will increase to 39,987,294 shares after the New Shares offered in the Public Offering, Personnel Offering and Institutional Offering are registered in the Trade Register on or about May 11, 2017. The number of shareholders after the Offering will increase to more than 1,200 shareholders. New Shares issued in the Share Issue are expected to be recorded in the book-entry accounts of investors who have made an approved commitment on or about the first banking day after the pricing, i.e., on or about May 12, 2017. The Offer Shares in the Institutional Offering are expected to be ready to be delivered against payment through Euroclear Finland Ltd on or about May 16, 2017. A confirmation letter regarding the approval of the commitments will be sent on or about May 12, 2017 to all investors who have submitted their commitments in the Public Offering and the Personnel Offering. Any excess payments made in connection with the commitments will be refunded to investors' bank accounts approximately on the third banking day after the pricing, i.e., on or about May 16, 2017. If the investor's bank account is in a different financial institution to the subscription place, the refund will be paid into a Finnish bank account in accordance with the payment schedule of the financial institutions, approximately no later than two banking days thereafter. The trading of Kamux shares is expected to commence on the pre-list of the Helsinki Stock Exchange tomorrow, May 12, 2017 and on the official list of the Helsinki Stock Exchange on or about May 16, 2017. The ISIN code of the shares is FI4000206750 and the share trading code is "KAMUX". Intera and Skandinaviska Enskilda Banken AB (publ), Helsinki branch, in its capacity as stabilizing manager ("SEB" or the "Stabilizing Manager") may agree that Intera shall give the Stabilizing Manager an Over-Allotment Option exercisable within 30 days from the commencement of trading of the shares on the Helsinki Stock Exchange (which is estimated to occur between May 12, 2017 and June 10, 2017), to purchase or to procure purchasers for a maximum of 2,250,153 additional shares (the "Additional Shares") solely to cover over-allotments (the "Over-Allotment Option"). The shares included in the Over-Allotment Option represent approximately 5.6 percent of the outstanding shares and votes after the Offering. Unless the context indicates otherwise, the New Shares, the Sale Shares and the Additional Shares are together referred to herein as the "Offer Shares." SEB may, within 30 days of the publication of the Final Subscription Price, first on the pre-list and later on the official list of the Helsinki Stock Exchange, engage in measures that stabilize, maintain or otherwise affect the price of the shares. Any stabilization measures will be conducted in accordance with Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC. SEB expects to enter into a share lending agreement with Intera related to the Over-Allotment Option and stabilization. On March 27, 2017, the shareholders of the Company decided by unanimous decision to elect Harri Sivula as the new member of the Board of Directors. The election of the new member of the Board of Directors is conditional upon the completion of the Offering and the listing of the Company's, and it enters into force immediately upon the commencement of trading in the shares on the pre-list of the Helsinki Stock Exchange. SEB acts as the lead manager (the "Lead Manager") in the Offering and OP Corporate Bank plc acts as the manager ("OP," and together with the Lead Manager, the "Managers") in the Offering. White & Case LLP acts as the legal advisor to the Company. Roschier Attorneys Ltd. acts as the legal advisor to the Managers. "I founded Kamux in 2003 and have been a part of the company's success ever since. I'm excited to continue this work in the listed Kamux. Our vision is to be a leading retail chain specializing in the sale of used cars in Europe. Going public provides us better opportunities to realize this vision. I want to thank all of our new shareholders for their trust. We will continue to work on Kamux's growth to the benefit of our shareholders, customers and employees." "We are delighted to have a new Finnish growth company, Kamux, in the stock exchange. Our goal is to continue Kamux's growth as one of the most successful Nordic retail chains expanding internationally. Going public supports the company's strategy in Finland and internationally. Furthermore, it enables additional investments, for example, in digitalization. Kamux has renewed the used car trade, and in the future we want to be a forerunner in digital customer experience in used car retail business. In the initial public offering, both Finnish and international investors showed strong demand, and the initial public offering was oversubscribed. Kamux attracted more than 1,200 new shareholders to join the company's growth story. It should also be noted that after the initial public offering, approximately 30% of Kamux's permanent employees are now also shareholders in the company." Neither this announcement nor the information contained herein is for publication, distribution or release, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, the Hong Kong special administrative region of the People's Republic of China, Japan, New Zealand, South Africa or Singapore or any other jurisdiction where to do would constitute violation of the relevant laws of such jurisdiction. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (such directive, as amended, together with any applicable implementing measures in the relevant member state of the European Economic Area under such Directive, the "Prospectus Directive"). A prospectus prepared pursuant to the Prospectus Directive and approved by the Finnish Financial Supervisory Authority has been published, and it can be obtained from Kamux and other places indicated in the prospectus. Investors should not subscribe for or purchase any securities referred to in this announcement except on the basis of information contained in the prospectus. This announcement does not contain or constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. The securities referred to herein may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Kamux does not intend to register any of the securities in the United States or to conduct a public offering of the securities in the United States. This announcement is directed only at: (A) persons in member states of the European Economic Area who are "qualified investors" within the meaning of Article 2(1)(e) of the Prospectus Directive (the "Qualified Investors"); (B) in the United Kingdom, Qualified Investors who are persons who (i) have professional experience in matters relating to investments and who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order"); or (ii) are high net worth entities falling within Article 49 of the Order; and (C) other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as "Relevant Persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this document or any of its contents. None of the Managers or any of their respective affiliates, directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for/or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to Kamux, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. The Managers are each acting exclusively for Kamux and for no-one else in connection with any transaction mentioned in this announcement and will not regard any other person (whether or not a recipient of this announcement) as a client in relation to any such transaction and will not be responsible to any other person for providing the protections afforded to their respective clients, or for advising any such person on the contents of this announcement or in connection with any transaction referred to in this announcement. The contents of this announcement have not been verified by the Managers. This announcement does not constitute a recommendation concerning the offering. The price and value of securities and any income from them can go down as well as up. Past performance is not a guide to future performance. Information in this announcement or any of the documents relating to the offering cannot be relied upon as a guide to future performance. There is no guarantee that the listing on the Helsinki Stock Exchange will occur and you should not base your financial decisions on Kamux's intentions in relation to the listing at this stage. Potential investors should consult a professional advisor as to the suitability of the offering for the entity concerned. Each of the Managers and any of their respective affiliates, acting as investors for their own accounts, may purchase shares and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts in such shares and other securities of Kamux or related investments in connection with the offering or otherwise. Accordingly, references in the final prospectus, once published, to the shares being offered, acquired, sold, placed or otherwise dealt in should be read as including any offer, sale, acquisition, placing or dealing in the shares by any of the Managers and any of their affiliates acting as investors for their own accounts. In addition, certain of the Managers or their affiliates may enter into financing arrangements and swaps in connection with which they or their affiliates may from time to time acquire, hold or dispose of shares. None of the Managers intends to disclose the extent of any such investment or transaction otherwise than in accordance with any legal or regulatory obligations to do so. No representation or warranty, express or implied, is given by or on behalf of the Managers or any of their respective subsidiaries, affiliates, agents or advisers or any of such persons' affiliates, directors, officers or employees or any other person as to the fairness, accuracy, completeness or verification of the information or the opinions contained in this announcement, and no liability is accepted for any such information or opinions. Each of the Managers or any such persons' directors, officers, employees or affiliates or any other person disclaim all and any responsibility and liability whatsoever for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred howsoever arising, directly or indirectly, from any use of this announcement or its contents or otherwise in connection with this announcement. Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe," "expect," "anticipate," "intend," "estimate," "will," "may," "continue," "should" and similar expressions. The forward-looking statements in this release are based upon various assumptions. Although Kamux believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors, which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. Each of Kamux, the Managers and their respective affiliates expressly disclaim any obligation or undertaking to update, review or revise any of the forward-looking statements contained in this announcement whether as a result of new information, future developments or otherwise. The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice.


Not for publication, distribution or release, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or Singapore or any other country where it would be against the law. The IPO of Kamux Corporation has been oversubscribed and the final subscription price is EUR 7.20 per share The Board of Directors of Kamux Corporation ("Kamux" or "the Company") have today decided on the completion of the initial public offering of Kamux. The final subscription price (the "Final Subscription Price") in the Offering (as defined below) is EUR 7.20 per Offer Share (as defined below), corresponding to a market capitalization of approximately EUR 287.9 million immediately following the Offering. The demand in the Offering was strong, and the Offering was oversubscribed. The Company's shares are expected to start trading on the pre-list of Nasdaq Helsinki Ltd (the "Helsinki Stock Exchange") on or about May 12, 2017. Kamux will issue 2,852,853 new shares in the Company (the "New Shares") (the "Share Issue"), corresponding to approximately 7.7 percent of the total number of the Company's shares outstanding before the Offering. In addition, Intera Fund II Ky ("Intera") and certain other shareholders of the Company (together with Intera, the "Sellers") will sell 14,398,327 existing shares in the Company (the "Sale Shares") (the "Share Sale", and together with the Share Issue, the "Offering"). 743,333 New Shares will be issued to private individuals and entities in Finland (the "Public Offering") and 1,999,700 New Shares and, in total, 16,398,027 Offer Shares will be allocated to institutional investors in Finland and internationally (the "Institutional Offering"), assuming full exercise of the Over-Allotment Option (as defined below). The commitments given in the Public Offering will be accepted in full. In addition, Kamux will issue 109,820 New Shares in the Personnel Offering (as defined below). All permanent employees of the Company or its wholly-owned subsidiaries on April 26, 2017 and the members of the Board of Directors of the Company (together the "Personnel"), excluding Sellers, have been offered an opportunity to participate in the offering (the "Personnel Offering"). The subscription price per share in the Personnel Offering is 10 percent lower than the Final Subscription Price in the Public Offering, i.e., EUR 6.48 per Offer Share. The commitments given in the Personnel Offering will be accepted in full. The Company will receive gross proceeds of approximately EUR 20.5 million from the Offering and the Sellers will receive gross proceeds of approximately EUR 103.7 million assuming full exercise of the Over-Allotment Option. The total number of the Company's outstanding shares will increase to 39,987,294 shares after the New Shares offered in the Public Offering, Personnel Offering and Institutional Offering are registered in the Trade Register on or about May 11, 2017. The number of shareholders after the Offering will increase to more than 1,200 shareholders. New Shares issued in the Share Issue are expected to be recorded in the book-entry accounts of investors who have made an approved commitment on or about the first banking day after the pricing, i.e., on or about May 12, 2017. The Offer Shares in the Institutional Offering are expected to be ready to be delivered against payment through Euroclear Finland Ltd on or about May 16, 2017. A confirmation letter regarding the approval of the commitments will be sent on or about May 12, 2017 to all investors who have submitted their commitments in the Public Offering and the Personnel Offering. Any excess payments made in connection with the commitments will be refunded to investors' bank accounts approximately on the third banking day after the pricing, i.e., on or about May 16, 2017. If the investor's bank account is in a different financial institution to the subscription place, the refund will be paid into a Finnish bank account in accordance with the payment schedule of the financial institutions, approximately no later than two banking days thereafter. The trading of Kamux shares is expected to commence on the pre-list of the Helsinki Stock Exchange tomorrow, May 12, 2017 and on the official list of the Helsinki Stock Exchange on or about May 16, 2017. The ISIN code of the shares is FI4000206750 and the share trading code is "KAMUX". Intera and Skandinaviska Enskilda Banken AB (publ), Helsinki branch, in its capacity as stabilizing manager ("SEB" or the "Stabilizing Manager") may agree that Intera shall give the Stabilizing Manager an Over-Allotment Option exercisable within 30 days from the commencement of trading of the shares on the Helsinki Stock Exchange (which is estimated to occur between May 12, 2017 and June 10, 2017), to purchase or to procure purchasers for a maximum of 2,250,153 additional shares (the "Additional Shares") solely to cover over-allotments (the "Over-Allotment Option"). The shares included in the Over-Allotment Option represent approximately 5.6 percent of the outstanding shares and votes after the Offering. Unless the context indicates otherwise, the New Shares, the Sale Shares and the Additional Shares are together referred to herein as the "Offer Shares." SEB may, within 30 days of the publication of the Final Subscription Price, first on the pre-list and later on the official list of the Helsinki Stock Exchange, engage in measures that stabilize, maintain or otherwise affect the price of the shares. Any stabilization measures will be conducted in accordance with Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC. SEB expects to enter into a share lending agreement with Intera related to the Over-Allotment Option and stabilization. On March 27, 2017, the shareholders of the Company decided by unanimous decision to elect Harri Sivula as the new member of the Board of Directors. The election of the new member of the Board of Directors is conditional upon the completion of the Offering and the listing of the Company's, and it enters into force immediately upon the commencement of trading in the shares on the pre-list of the Helsinki Stock Exchange. SEB acts as the lead manager (the "Lead Manager") in the Offering and OP Corporate Bank plc acts as the manager ("OP," and together with the Lead Manager, the "Managers") in the Offering. White & Case LLP acts as the legal advisor to the Company. Roschier Attorneys Ltd. acts as the legal advisor to the Managers. "I founded Kamux in 2003 and have been a part of the company's success ever since. I'm excited to continue this work in the listed Kamux. Our vision is to be a leading retail chain specializing in the sale of used cars in Europe. Going public provides us better opportunities to realize this vision. I want to thank all of our new shareholders for their trust. We will continue to work on Kamux's growth to the benefit of our shareholders, customers and employees." "We are delighted to have a new Finnish growth company, Kamux, in the stock exchange. Our goal is to continue Kamux's growth as one of the most successful Nordic retail chains expanding internationally. Going public supports the company's strategy in Finland and internationally. Furthermore, it enables additional investments, for example, in digitalization. Kamux has renewed the used car trade, and in the future we want to be a forerunner in digital customer experience in used car retail business. In the initial public offering, both Finnish and international investors showed strong demand, and the initial public offering was oversubscribed. Kamux attracted more than 1,200 new shareholders to join the company's growth story. It should also be noted that after the initial public offering, approximately 30% of Kamux's permanent employees are now also shareholders in the company." Neither this announcement nor the information contained herein is for publication, distribution or release, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, the Hong Kong special administrative region of the People's Republic of China, Japan, New Zealand, South Africa or Singapore or any other jurisdiction where to do would constitute violation of the relevant laws of such jurisdiction. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (such directive, as amended, together with any applicable implementing measures in the relevant member state of the European Economic Area under such Directive, the "Prospectus Directive"). A prospectus prepared pursuant to the Prospectus Directive and approved by the Finnish Financial Supervisory Authority has been published, and it can be obtained from Kamux and other places indicated in the prospectus. Investors should not subscribe for or purchase any securities referred to in this announcement except on the basis of information contained in the prospectus. This announcement does not contain or constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. The securities referred to herein may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Kamux does not intend to register any of the securities in the United States or to conduct a public offering of the securities in the United States. This announcement is directed only at: (A) persons in member states of the European Economic Area who are "qualified investors" within the meaning of Article 2(1)(e) of the Prospectus Directive (the "Qualified Investors"); (B) in the United Kingdom, Qualified Investors who are persons who (i) have professional experience in matters relating to investments and who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order"); or (ii) are high net worth entities falling within Article 49 of the Order; and (C) other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as "Relevant Persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this document or any of its contents. None of the Managers or any of their respective affiliates, directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for/or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to Kamux, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. The Managers are each acting exclusively for Kamux and for no-one else in connection with any transaction mentioned in this announcement and will not regard any other person (whether or not a recipient of this announcement) as a client in relation to any such transaction and will not be responsible to any other person for providing the protections afforded to their respective clients, or for advising any such person on the contents of this announcement or in connection with any transaction referred to in this announcement. The contents of this announcement have not been verified by the Managers. This announcement does not constitute a recommendation concerning the offering. The price and value of securities and any income from them can go down as well as up. Past performance is not a guide to future performance. Information in this announcement or any of the documents relating to the offering cannot be relied upon as a guide to future performance. There is no guarantee that the listing on the Helsinki Stock Exchange will occur and you should not base your financial decisions on Kamux's intentions in relation to the listing at this stage. Potential investors should consult a professional advisor as to the suitability of the offering for the entity concerned. Each of the Managers and any of their respective affiliates, acting as investors for their own accounts, may purchase shares and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts in such shares and other securities of Kamux or related investments in connection with the offering or otherwise. Accordingly, references in the final prospectus, once published, to the shares being offered, acquired, sold, placed or otherwise dealt in should be read as including any offer, sale, acquisition, placing or dealing in the shares by any of the Managers and any of their affiliates acting as investors for their own accounts. In addition, certain of the Managers or their affiliates may enter into financing arrangements and swaps in connection with which they or their affiliates may from time to time acquire, hold or dispose of shares. None of the Managers intends to disclose the extent of any such investment or transaction otherwise than in accordance with any legal or regulatory obligations to do so. No representation or warranty, express or implied, is given by or on behalf of the Managers or any of their respective subsidiaries, affiliates, agents or advisers or any of such persons' affiliates, directors, officers or employees or any other person as to the fairness, accuracy, completeness or verification of the information or the opinions contained in this announcement, and no liability is accepted for any such information or opinions. Each of the Managers or any such persons' directors, officers, employees or affiliates or any other person disclaim all and any responsibility and liability whatsoever for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred howsoever arising, directly or indirectly, from any use of this announcement or its contents or otherwise in connection with this announcement. Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe," "expect," "anticipate," "intend," "estimate," "will," "may," "continue," "should" and similar expressions. The forward-looking statements in this release are based upon various assumptions. Although Kamux believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors, which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. Each of Kamux, the Managers and their respective affiliates expressly disclaim any obligation or undertaking to update, review or revise any of the forward-looking statements contained in this announcement whether as a result of new information, future developments or otherwise. The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice.


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG, SOUTH AFRICA, SINGAPORE OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. Silmäasema Oyj ("Silmäasema" or "the Company") is planning an initial public offering ("IPO") and listing of its shares on the Nasdaq Helsinki Oy ("Nasdaq Helsinki") Main List. Silmäasema is a Finnish company, which offers all products and services for optical retail and eye healthcare nationwide. In 2016, Silmäasema Group's net sales were 101.3 million euros and grew 8.6 percent from 2015. Silmäasema's target is to be the market leader in optical retail and eye healthcare related clinic operations, including cataract and refractive surgeries. The objective of the contemplated IPO is to support Silmäasema's growth strategy, strengthen its capital structure and improve Silmäasema's awareness in the public as well as with co-operation partners and as an employer. The IPO would enable the Company to access capital markets, expand its ownership base and improve the liquidity of the Company's shares. Through the listing, the Company's shares could also be used as remuneration for Silmäasema's employees and management. The IPO is expected to consist of both a share sale and primary offering by the Company. In connection with the IPO, the objective is to raise around 35 million euros of new equity, which would be used to support Silmäasema's growth strategy and strengthen the capital structure. "Silmäasema is the only player in its field in Finland, which offers all optical retail and eye healthcare related products and services under one roof. Through our wide product and services offering, we can always offer the most suitable solution for customers. During the last five years, we have expanded our network and grown our net sales and market share strongly. We have also been able to improve our profitability. Silmäasema is now the second largest optical retail chain in Finland and the largest private eye clinic measured in eye surgeries, and our target is to be the market leader in optical retail and eye healthcare related clinic operations, including cataract and refractive surgeries. We plan to continue to grow profitably and we believe an IPO would support the execution of our growth strategy." "Silmäasema's management has developed the business systematically and strengthened Silmäasema's position as a unique player in the optical retail and eye healthcare market in Finland. At the same time, net sales have grown strongly and profitability has improved. Silmäasema is now ready for the next phase and we believe it is the right time to list the Company's shares and offer new shareholders an opportunity to be part of the Company's profitable growth story." Silmäasema is a Finnish company, which offers all products and services for optical retail and eye healthcare nationwide. Silmäasema's management views it to be the largest private eye clinic provider offering eye surgeries and the second largest optical retail chain, according to NÄE ry, with 25.3 percent market share. Silmäasema's target is to the market leader in optical retail and eye healthcare related clinic operations, including cataract and refractive surgeries. The Silmäasema chain has in total 148 optical retail stores in Finland; of which 125 are own stores and 23 entrepreneur driven stores, as well as 13 eye clinics. In addition, Silmäasema has eight optical retail stores in Estonia. The Silmäasema chain employs close to 1 000 eye healthcare professionals. In 2016, the Silmäasema chain conducted around 210 000 optician's eye examinations, 190 000 ophthalmologists appointments and over 15 000 cataract and refractive surgeries. Silmäasema's Group net sales were 101.3 million euros in 2016 and adjusted EBITDA was 12.0 million euros. Silmäasema's business is supported by the following key strengths: Silmäasema's target is to be the market leader in optical retail and eye healthcare related clinic operations, including cataract and refractive surgeries. Silmäasema offers customers all optical retail and eye healthcare products and services through comprehensive network and online store. Silmäasema's strategy includes expanding its store network, strengthening its like-for-like growth and increasing profitability. Silmäasema has a regularly updated network plan and structured approach to new store and eye clinic openings. Silmäasema targets growth in like-for-like sales by developing its offering, network concept and multi-channel approach as well as by utilising its business model, which aims to offer all optical retail and eye healthcare products and services. In addition, the optical retail and eye healthcare market is expected to grow, among others, with aging population. With growing volumes, Silmäasema has the opportunity to benefit from economies of scale and through increasing productivity further increase relative profitability. The Board of Directors of the Company has established the following mid-term financial targets for Silmäasema: Silmäasema's average net sales growth per annum (CAGR) has been 12.5 percent between 2012 and 2015[1], and 8.6 percent from 2015 to 2016. Silmäasema expects its net sales to grow faster in 2017 than in the previous year and the adjusted EBITDA margin to improve. In 2016, Silmäasema's net sales were 101.3 million euros, adjusted EBITDA was 12.0 million euros and adjusted EBITDA margin 11.8 percent. 2 Like-for-like growth refers to over 12 months open stores and clinics like-for-like net sales growth. Like-for-like net sales consists of net sales of stores and clinics that have been open for at least 12 months. 3 FAS EBITDA has been calculated by adding depreciations to FAS EBIT. Adjusted information is unaudited. 4 Adjusted EBIT refers to EBIT that has been adjusted for items affecting comparability for the financial periods ending 31.12.2016 and 31.12.2015. For the period ending, 31.12.2015 and 31.12.2014 adjusted EBIT has been calculated as FAS EBIT adjusted for items affecting comparability and, to increase comparability, for goodwill amortisations. 5 The Company has been founded 2.6.2014 and it acquired Silmäasema Optiikka Group in August 2014, thus the Company's Group financial reports from 2014 include Silmäasema's operative business only for four months.  To improve comparability, the chart presents Silmäasema Optiikka's profit and loss information for the full year 2014 instead of the Company's group profit and loss information. The acquisition had no impact on the operative business of Silmäasema. The contemplated IPO is expected to consist of both a primary offering by the Company and a secondary offering, in which certain shareholders of the Company, including the largest shareholder Intera Fund II Ky, would sell shares. The Company and certain current shareholders would commit to customary lock up arrangements in connection with the IPO. Intera Fund II Ky would remain a significant shareholder after the IPO. The primary offering is expected to raise around 35 million of new equity, which would be used to support Silmäasema's growth strategy and strengthen the capital structure. The objective of the contemplated IPO is to support Silmäasema's growth strategy, strengthen its capital structure and improve Silmäasema's awareness in the public as well as with co-operation partners and as an employer. The IPO would enable the Company to access capital markets, expand its ownership base and improve the liquidity of the Company's shares. Through the listing, the Company's shares could also be used as remuneration for Silmäasema's employees and management. Silmäasema is planning a personnel offering in connection with the contemplated IPO. Nordea Bank Ab (publ) Finnish Branch is acting as financial adviser to the Company and would be the Global Coordinator and Bookrunner in the contemplated IPO ("Nordea" or "Global Coordinator") and OP Corporate Bank Oyj ("OP") would act as Bookrunner in the contemplated IPO (together with the Global Coordinator, "Joint Bookrunners"). Silmäasema will host a press event today, May 15th 2017, at 11.00, at the Helsinki Stock Exchange (Fabianinkatu 14, Helsinki). The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States, Canada, Australia, Hong Kong, South Africa, Singapore or Japan. These written materials do not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. Silmäasema Oyj (the "Company") does not intend to register any portion of the offering in the United States or to conduct a public offering of securities in the United States. The issue, exercise and/or sale of securities in the initial public offering are subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company, Nordea Bank AB (publ), Finnish Branch ("Nordea") nor OP Corporate Bank plc ("OP") assume any responsibility in the event there is a violation by any person of such restrictions. Nordea and OP are acting exclusively for the Company and for no-one else in connection with any transaction mentioned in this announcement and will not regard any other person (whether or not a recipient of this announcement) as a client in relation to any such transaction and will not be responsible to any other person for providing the protections afforded to its clients, or for advising any such person on the contents of this announcement or in connection with any transaction referred to in this announcement. The contents of this announcement have not been verified by Nordea or OP and neither Nordea nor OP accept liability for this information included in this announcement. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Investors must neither accept any offer for, nor acquire, any securities to which this document refers, unless they do so on the basis of the information contained in the applicable prospectus published or offering circular distributed by the Company. The Company has not authorized any offer to the public of securities in any Member State of the European Economic Area other than Finland. With respect to each Member State of the European Economic Area other than Finland and which has implemented the Prospectus Directive (each, a "Relevant Member State"), no action has been undertaken or will be undertaken to make an offer to the public of securities requiring publication of a prospectus in any Relevant Member State. As a result, the securities may only be offered in Relevant Member States (a) to any legal entity which is a qualified investor as defined in the Prospectus Directive; or (b) in any other circumstances falling within Article 3(2) of the Prospectus Directive. For the purposes of this paragraph, the expression an "offer of securities to the public" means the communication in any form and by any means of sufficient information on the terms of the offer and the securities to be offered so as to enable an investor to decide to exercise, purchase or subscribe the securities, as the same may be varied by any measure implementing the Prospectus Directive in that Relevant Member State and the expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive, to the extent implemented in the Relevant Member State), and includes any relevant implementing measure in the Relevant Member State and the expression "2010 PD Amending Directive" means Directive 2010/73/EU. These written materials do not constitute an offer of the securities referred to herein to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the securities referred to herein. This communication is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. [1] 2012-2015 based on financial statements according to Finnish Accounting Standards ("FAS") accounting, unaudited


Before Sawyer, Acorn purchased pre-cut stamp mounts with handles from a third-party supplier, which led to variable pricing, shipping delays and inconsistent stamp mount quality. The company has long sought an option for bringing this process in house, but doing so was too expensive to automate and tedious for human workers. Upon discovering Sawyer, the Acorn team knew it had identified a solution that could shorten the supply chain. "As a family-owned business, one of our main concerns is creating a business that can be sustained through future generations. When we first heard about collaborative robots and saw Sawyer, we knew he was part of our answer. Since deploying Sawyer, we have drastically reduced the length of our supply chain, which has saved us money, and given us more control over the quality of our products," said Holly Raidabaugh, vice president, Acorn Sales Company. "The market has changed significantly, and customers have more expectations for customization than ever before. Having the ability to ensure quality without sacrificing flexibility or affordability has been a huge win for us." Founded in 1964, Acorn Sales specializes in stamps, seals, name badges, stock certificates, corporate kits and more. By bringing the fabrication of stamp components in house, Acorn can keep its prices in line with competitors, a critical factor in a price-driven market. Moving forward, Acorn hopes to deploy Sawyer on a variety of tasks, including a potential overnight shift. "Traditionally, automation has been exclusively available to larger manufacturers, but the benefit of flexible and affordable collaborative robots is that small and mid-size manufacturers can take advantage of automation as well," said Jim Lawton, chief product and marketing officer at Rethink Robotics. "For manufacturers like Acorn to stay competitive, they need to find ways to shorten supply chains, increase product quality and drive competitive pricing in the market. Sawyer enables manufacturers to be innovative and creative, and gives them a real competitive edge." For more information, please visit www.rethinkrobotics.com. Rethink Robotics is transforming the way manufacturing gets done, with smart, collaborative robots able to automate the 90 percent of tasks that until now, have been beyond the reach of traditional automation. Its Baxter® and Sawyer robots, powered by the Intera software platform, adapt to real-world variability, can change applications quickly and perform tasks like people do. The result: manufacturers of all shapes, sizes and industries get the fast-to-deploy, easy-to-use and versatile automation solution they need to increase flexibility, lower cost and accelerate innovation. Based in Boston, the Rethink product suite is available in Asia, Europe and North America. The company is funded by Bezos Expeditions, CRV, Highland Capital Partners, Sigma Partners, DFJ, GE Ventures and Goldman Sachs. For more information about Rethink Robotics, please visit www.rethinkrobotics.com and follows us on Twitter @RethinkRobotics. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/acorn-sales-shortens-supply-chain-strengthens-market-position-with-rethink-robotics-sawyer-300459987.html


"Silmäasema on kasvanut viime vuosina vahvasti: vuosina 2012-2015 liikevaihtomme keskimääräinen vuotuinen kasvu oli 12,5 prosenttia. Vuonna 2016 liikevaihtomme kasvoi 8,6 prosenttia. Myös kannattavuutemme on kehittynyt suotuisasti. Listautumisen myötä Silmäasema siirtyy seuraavaan vaiheeseen, jossa jatkamme kasvustrategiamme toteuttamista. Tavoitteenamme on olla markkinajohtaja optisessa kaupassa sekä silmien terveyteen liittyvässä sairaalatoiminnassa, mukaan lukien kaihi- ja taittovirheleikkaukset." "Silmäasema toimii kasvavilla markkinoilla ja on erittäin kiinnostavassa kehitysvaiheessa. Johto on kehittänyt Yhtiön liiketoimintaa määrätietoisesti ja vahvistanut Silmäaseman asemaa ainutlaatuisena toimijana näkemisen ja silmäterveyden markkinoilla Suomessa. Uskon, että Silmäasema on valmis ottamaan seuraavan askeleen ja näen, että listautuminen tukisi Yhtiön kasvutavoitteiden toteuttamista." "Intera sijoitti Silmäasemaan kolme vuotta sitten, ja sinä aikana Yhtiön liiketoiminta ja luvut ovat kehittyneet erittäin vakaasti ja suotuisaan suuntaan. Nyt kun pörssilistaus on mahdollinen ja yhtiön edessä on erinomainen tulevaisuus, olemme tehneet suuren osan työstämme. Silmäasemalla on erittäin hyvät lähtökohdat kasvattaa suhteellista markkinaosuuttaan optisella puolella edelleen sekä vahvistaa markkinajohtajuuttaan silmänterveyden eri osa-alueilla. Intera jää merkittäväksi omistajaksi yhtiöön myös listautumisen jälkeen." Yhtiö on jättänyt listalleottoesitteen hyväksyttäväksi Finanssivalvonnalle. Listalleottoesite odotetaan hyväksyttävän arviolta 26.5.2017. Suomenkielinen listalleottoesite ja markkinointiesite ovat saatavilla Yhtiön internetsivuilta osoitteesta www.silmaasema.fi/listautuminen 29.5.2017 ennen merkintäajan alkamista. Listalleottoesitteestä laadittu englanninkielinen asiakirja on saatavilla 29.5.2017 alkaen osoitteesta www.silmaasema.fi/IPO.  Suomenkielinen listalleottoesite on lisäksi saatavilla paperikopioina arviolta 29.5.2017 Yhtiön pääkonttorista (Atomitie 5 A, 00370 Helsinki), Nordea Bank AB (publ), Suomen sivuliikkeen konttoreista, OP Ryhmän osuuspankkien konttoreista ja Helsingin Pörssistä (Fabianinkatu 14, 00100 Helsinki). Silmäasema on kotimainen yritys, joka tarjoaa maanlaajuisesti kaikki näkemisen ja silmäterveyden tuotteet ja palvelut. Silmäasema on johdon näkemyksen mukaan Suomen suurin yksityinen silmäleikkauksia tarjoava silmäsairaalaketju sekä toiseksi suurin optikkoketju 25,3 prosentin markkinaosuudellaan NÄE ry:n mukaan. Silmäaseman tavoitteena on olla markkinajohtaja optisessa kaupassa sekä silmien terveyteen liittyvässä sairaalatoiminnassa, mukaan lukien kaihi- ja taittovirheleikkaukset. Silmäasema-ketjulla on Suomessa optisessa vähittäiskaupassa yhteensä 148 myymälää, joista 125 on omia myymälöitä ja 23 yrittäjävetoista myymälää, sekä 13 silmäsairaalaa. Tämän lisäksi Silmäasemalla on kahdeksan optisen kaupan myymälää Virossa. Silmäasema-ketjun palveluksessa työskentelee noin 1 000 näkemisen ja silmäterveyden ammattilaista. Vuonna 2016 Silmäasema-ketjussa tehtiin noin 210 000 optikon näöntarkastusta, 190 000 silmälääkärin vastaanottoa ja yli 15 000 kaihi- ja taittovirheleikkausta. Silmäasema-konsernin liikevaihto oli 101,3 miljoonaa euroa vuonna 2016 ja oikaistu käyttökate 12,0 miljoonaa euroa. Tämä kirjallinen materiaali ei ole tarjous tässä viitattujen arvopapereiden myymiseksi Isossa-Britanniassa.  Isossa-Britanniassa ei ole hyväksytty tässä viitattuihin arvopapereihin liittyvää esitettä eikä sellaista tulla rekisteröimään. Tässä esitetyt tiedot on suunnattu ainoastaan (i) henkilöille, jotka ovat Ison-Britannian ulkopuolella tai (ii) henkilöille, joilla on ammattimaista kokemusta sijoittamisesta Ison-Britannian vuoden 2000 rahoituspalvelu- ja markkinalain (Financial Services and Markets Act) (Financial Promotion) vuoden 2005 määräyksen ("Määräys") 19(5) artiklan tarkoittamalla tavalla ja (iii) Määräyksen 49(2) mukaisille korkean varallisuustason omaaville tahoille (high net worth entities) taikka muille henkilöille, joille asiakirja voidaan laillisesti tiedottaa (kaikki edellä mainitut henkilöt yhdessä, "relevantit henkilöt"). Kaikki tähän tiedotteeseen liittyvä sijoitustoiminta on ainoastaan relevanttien henkilöiden saatavilla ja siihen ryhdytään ainoastaan relevanttien henkilöiden kanssa. Kenenkään, joka ei ole relevantti henkilö, ei tule toimia tämän asiakirjan perusteella tai luottaa sen sisältöön.


Press Release 26 May 2017, at 10 am NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG, SOUTH AFRICA, SINGAPORE OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. Silmäasema Oyj ("Silmäasema" or the "Company") announces the preliminary price range for the share issue and the share sale in connection with its planned initial public offering ("IPO" or "the Offering"). The Company announced on 15 May 2017 that it is planning an initial public offering and listing of its shares on the Nasdaq Helsinki Ltd's (the "Helsinki Stock Exchange") main market. The IPO in brief: "During the past years, Silmäasema has grown strongly: during the years 2012-2015 the average annual growth of the net sales was 12.5 per cent. In 2015, our net sales grew by 8.6 per cent. In addition, our profitability has developed favorably. Through the listing, Silmäasema proceeds to the next phase in which we will continue executing on our growth strategy. Our target is to be the market leader in optical retail and in eye clinic operations related to eye healthcare, including cataract and refractive surgeries. " "Silmäasema operates in growing markets and is at a very interesting development phase. The management has developed the business of the Company in a determined way and strengthened Silmäasema's position as a unique player in vision and eye healthcare market in Finland. I believe that Silmäasema is ready take the next step and in my view, the listing would support the achievement of the Company's growth targets. " Member of the Board of Silmäasema and Chairman of the Board of Intera Tuomas Lang: "Intera invested in Silmäasema three years ago and during that time, the business and financial performance of the Company have developed steadily and in a favourable direction. Now that the listing is possible and the Company has an excellent future ahead, we have done most of our work. Silmäasema has a very good basis to further increase its relative market share in optical retail and strengthen its market leadership in different eye healthcare segments. Intera will remain as a significant shareholder in the Company also after the listing. " The listing of the Shares is expected to improve awareness of Silmäasema among its present and potential new customers, cooperation partners and employees. The IPO provides access to capital markets for the Company, expansion of its ownership base and increase in liquidity of its Shares. In addition, the listing gives the present shareholders a possibility to trade their shares on market terms. The listing of the Shares also enables the Company to offer market-based incentive programs to its key employees and to strengthen its image as an employer. The proceeds from the IPO are intended to be used for supporting of the Company's growth strategy and strengthening of the Company's capital structure, including partial repayment of Company's bank loans as well as repayment of the shareholder loans and related accrued interests. The listing and publication of the Finnish language prospectus The Company's shares are not subject to public trading before the IPO. The Company will apply for listing of the Company's shares on the main market of Helsinki Stock Exchange. Trading in the Shares is expected to commence on the pre-list of the Helsinki Stock Exchange or about 9 June 2017 and the main market on or about 13 June 2017. The Company has submitted a Finnish language prospectus for approval by the Finnish Financial Supervisory Authority. The Finnish language prospectus is expected to be approved on or about 26 May 2017. The Finnish language prospectus and the Finnish language marketing brochure are available through Silmäasema's website www.silmaasema.fi/listautuminen on 29 May 2017 before the commencement of the subscription period. The English language document of the Finnish language Prospectus is available at www.silmaasema.fi/IPO on 29 May 2017. Additionally, the Finnish language prospectus is available in print on or about 29 May 2017 at the Company's headquarters (Atomitie 5 A, FI-00370 Helsinki, Finland), Nordea Bank AB (publ), Finnish Branch's branch offices, branch offices of OP Financial Group's cooperative banks as well as at the service point of Helsinki Stock Exchange (Fabianinkatu 14, FI-00100 Helsinki, Finland). Further information about the IPO and places of subscription is available on the websites at www.silmaasema.fi/IPO, www.nordea.fi and www.op.fi/merkinta as well as at the Nordea Bank AB (publ), Finnish Branch's branch offices and branch offices of OP Financial Group's cooperative banks. Nordea Bank AB (publ), Finnish branch acts as the Global Coordinator and Bookrunner in the IPO and OP Corporate Bank plc acts as the Bookrunner in the IPO. Roschier, Attorneys Ltd. acts as the legal advisor to the Company. Borenius Attorneys Ltd acts as the legal advisor to the Joint Bookrunners. Silmäasema in brief Silmäasema is a Finnish company, which offers all products and services for optical retail and eye healthcare nationwide. Silmäasema's management views it to be the largest private eye clinic provider offering eye surgeries and the second largest optical retail chain, according to the Finnish Association of Vision and Eyecare (NÄE ry), with 25.3 percent market share. Silmäasema's target is to the market leader in optical retail and eye healthcare related clinic operations, including cataract and refractive surgeries. The Silmäasema chain has in total 148 optical retail stores in Finland; of which 125 are own stores and 23 entrepreneur driven stores, as well as 13 eye clinics. In addition, Silmäasema has eight optical retail stores in Estonia. The Silmäasema chain employs close to 1,000 eye healthcare professionals. In 2016, the Silmäasema chain conducted around 210,000 optician's eye examinations, 190,000 ophthalmologists' appointments and over 15,000 cataract and refractive surgeries. Silmäasema's Group net sales were 101.3 million euros in 2016 and adjusted EBITDA was 12.0 million euros. The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States, Canada, Australia, Hong Kong, South Africa, Singapore or Japan. These written materials do not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. Silmäasema Oyj (the "Company") does not intend to register any portion of the offering in the United States or to conduct a public offering of securities in the United States. The issue, exercise and/or sale of securities in the initial public offering are subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company, Nordea Bank AB (publ), Finnish Branch ("Nordea") nor OP Corporate Bank plc ("OP") assume any responsibility in the event there is a violation by any person of such restrictions. Nordea and OP are acting exclusively for the Company and for no-one else in connection with any transaction mentioned in this announcement and will not regard any other person (whether or not a recipient of this announcement) as a client in relation to any such transaction and will not be responsible to any other person for providing the protections afforded to its clients, or for advising any such person on the contents of this announcement or in connection with any transaction referred to in this announcement. The contents of this announcement have not been verified by Nordea or OP and neither Nordea nor OP accept liability for this information included in this announcement. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Investors must neither accept any offer for, nor acquire, any securities to which this document refers, unless they do so on the basis of the information contained in the applicable prospectus published or offering circular distributed by the Company. The Company has not authorized any offer to the public of securities in any Member State of the European Economic Area other than Finland. With respect to each Member State of the European Economic Area other than Finland and which has implemented the Prospectus Directive (each, a "Relevant Member State"), no action has been undertaken or will be undertaken to make an offer to the public of securities requiring publication of a prospectus in any Relevant Member State. As a result, the securities may only be offered in Relevant Member States (a) to any legal entity which is a qualified investor as defined in the Prospectus Directive; or (b) in any other circumstances falling within Article 3(2) of the Prospectus Directive. For the purposes of this paragraph, the expression an "offer of securities to the public" means the communication in any form and by any means of sufficient information on the terms of the offer and the securities to be offered so as to enable an investor to decide to exercise, purchase or subscribe the securities, as the same may be varied by any measure implementing the Prospectus Directive in that Relevant Member State and the expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive, to the extent implemented in the Relevant Member State), and includes any relevant implementing measure in the Relevant Member State and the expression "2010 PD Amending Directive" means Directive 2010/73/EU. These written materials do not constitute an offer of the securities referred to herein to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the securities referred to herein. This communication is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.


News Article | April 23, 2017
Site: www.PR.com

Hartland, WI, April 23, 2017 --( According to Tom Price Jr., President and CEO of Price Engineering, “Collaborative Robots, sometimes known as cobots, are changing the industrial landscape with their ability to take on dull and/or repetitive tasks that may be unappealing to human workers. They are specifically designed to integrate into the existing workforce and equipment, without the need for fixed guarding or even extensive programming knowledge.” “These robots are smaller, lighter and more cost effective as they complement a current work environment. The overall system is designed so existing staff can ‘train’ or ‘retrain’ the robot simply by moving the arm in the work motion they are looking for.” Scott Eckert, president and CEO at Rethink Robotics adds, “Technology is quickly changing modern manufacturing in the U.S. In order to stay competitive, companies are finding they need to automate manual processes. With Rethink’s combination of hardware and software, combined with Price’s integration and engineering knowledge, we are excited to be bringing Wisconsin’s manufacturers the best resources to adapt automation technologies.” To date, Rethink’s Robots have been deployed for several industry applications including CNC machining, metal fabrication, packaging and material handling and test and inspection processes. Sawyer™, Rethink’s latest Robot, weighs less than fifty pounds and features seven degrees of freedom allowing it to reach into tight spaces and various alignments in a work area. Able to “feel” and “see”, Sawyer™ runs on Rethink’s Intera™ software for easy training and implementation. “Price Engineering continues to look for innovative solutions in the area of automation and motion control,” says Price. “We are excited to work with Rethink Robotics, a U.S. based company, to help our customers automate their applications, address potential labor shortages and realize gains in productivity.” Price Engineering, headquartered in Hartland, WI, is a diverse provider of hydraulic, pneumatic, lubrication, modular framing, electrical control and automation solutions. The company’s breadth of products and services includes component distribution, system design and manufacturing, production hose manufacturing, proprietary product design and build, engineering services, and training. Price also provides field service and repair with its Price On-Site division and operates Price Hose Centers in Hartland and Appleton, WI. Hartland, WI, April 23, 2017 --( PR.com )-- Wisconsin’s manufacturing workforce may find themselves working alongside a robot in the near future thanks to a new distribution agreement between Price Engineering of Hartland, WI and Rethink Robotics of Boston, MA.According to Tom Price Jr., President and CEO of Price Engineering, “Collaborative Robots, sometimes known as cobots, are changing the industrial landscape with their ability to take on dull and/or repetitive tasks that may be unappealing to human workers. They are specifically designed to integrate into the existing workforce and equipment, without the need for fixed guarding or even extensive programming knowledge.”“These robots are smaller, lighter and more cost effective as they complement a current work environment. The overall system is designed so existing staff can ‘train’ or ‘retrain’ the robot simply by moving the arm in the work motion they are looking for.”Scott Eckert, president and CEO at Rethink Robotics adds, “Technology is quickly changing modern manufacturing in the U.S. In order to stay competitive, companies are finding they need to automate manual processes. With Rethink’s combination of hardware and software, combined with Price’s integration and engineering knowledge, we are excited to be bringing Wisconsin’s manufacturers the best resources to adapt automation technologies.”To date, Rethink’s Robots have been deployed for several industry applications including CNC machining, metal fabrication, packaging and material handling and test and inspection processes.Sawyer™, Rethink’s latest Robot, weighs less than fifty pounds and features seven degrees of freedom allowing it to reach into tight spaces and various alignments in a work area. Able to “feel” and “see”, Sawyer™ runs on Rethink’s Intera™ software for easy training and implementation.“Price Engineering continues to look for innovative solutions in the area of automation and motion control,” says Price. “We are excited to work with Rethink Robotics, a U.S. based company, to help our customers automate their applications, address potential labor shortages and realize gains in productivity.”Price Engineering, headquartered in Hartland, WI, is a diverse provider of hydraulic, pneumatic, lubrication, modular framing, electrical control and automation solutions. The company’s breadth of products and services includes component distribution, system design and manufacturing, production hose manufacturing, proprietary product design and build, engineering services, and training. Price also provides field service and repair with its Price On-Site division and operates Price Hose Centers in Hartland and Appleton, WI. Click here to view the list of recent Press Releases from Price Engineering


Singh A.,Intera Inc. | Mishra S.,Intera Inc. | Ruskauff G.,Intera Inc.
Ground Water | Year: 2010

In recent years a growing understanding has emerged regarding the need to expand the modeling paradigm to include conceptual model uncertainty for groundwater models. Conceptual model uncertainty is typically addressed by formulating alternative model conceptualizations and assessing their relative likelihoods using statistical model averaging approaches. Several model averaging techniques and likelihood measures have been proposed in the recent literature for this purpose with two broad categories-Monte Carlo-based techniques such as Generalized Likelihood Uncertainty Estimation or GLUE (Beven and Binley 1992) and criterion-based techniques that use metrics such as the Bayesian and Kashyap Information Criteria (e.g., the Maximum Likelihood Bayesian Model Averaging or MLBMA approach proposed by Neuman 2003) and Akaike Information Criterion-based model averaging (AICMA) (Poeter and Anderson 2005). These different techniques can often lead to significantly different relative model weights and ranks because of differences in the underlying statistical assumptions about the nature of model uncertainty. This paper provides a comparative assessment of the four model averaging techniques (GLUE, MLBMA with KIC, MLBMA with BIC, and AIC-based model averaging) mentioned above for the purpose of quantifying the impacts of model uncertainty on groundwater model predictions. Pros and cons of each model averaging technique are examined from a practitioner's perspective using two groundwater modeling case studies. Recommendations are provided regarding the use of these techniques in groundwater modeling practice. Copyright © 2009 The Author(s). Journal compilation © 2009 National Ground Water Association.


Martinez G.F.,University of Arizona | Martinez G.F.,Intera Inc. | Gupta H.V.,University of Arizona
Water Resources Research | Year: 2011

Methods to select parsimonious and hydrologically consistent model structures are useful for evaluating dominance of hydrologic processes and representativeness of data. While information criteria (appropriately constrained to obey underlying statistical assumptions) can provide a basis for evaluating appropriate model complexity, it is not sufficient to rely upon the principle of maximum likelihood (ML) alone. We suggest that one must also call upon a "principle of hydrologic consistency," meaning that selected ML structures and parameter estimates must be constrained (as well as possible) to reproduce desired hydrological characteristics of the processes under investigation. This argument is demonstrated in the context of evaluating the suitability of candidate model structures for lumped water balance modeling across the continental United States, using data from 307 snow-free catchments. The models are constrained to satisfy several tests of hydrologic consistency, a flow space transformation is used to ensure better consistency with underlying statistical assumptions, and information criteria are used to evaluate model complexity relative to the data. The results clearly demonstrate that the principle of consistency provides a sensible basis for guiding selection of model structures and indicate strong spatial persistence of certain model structures across the continental United States. Further work to untangle reasons for model structure predominance can help to relate conceptual model structures to physical characteristics of the catchments, facilitating the task of prediction in ungaged basins. Copyright 2011 by the American Geophysical Union.


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