JonDeTech Sensors AB (Stockholm, Sweden), a spin-off from Uppsala University, was founded in 2008 and is now listed on the Nasdaq First North Growth Market.
JonDeTech said that it has agreed to sell 2,932,552 shares to Jiuyou subject to a term-sheet agreement, at a price of SEK13.64. Although this dilutes existing holdings by approximately 13.65 percent, JonDeTech said the deal was struck because the Jiuyou Fund will be able to play an instrumental role for the company in the Asian markets.
The deal has therefore been constructed so that Jiuyou will pay SEK 20 million (about $2 million) to a Swedish bank account of JonDeTech on May 15, 2020 at the latest, and the remaining SEK 20 million will be transferred in local currency to a wholly-owned subsidiary of JonDeTech in China.
JonDeTech has developed a novel IR sensor that is a flexible plastic film and that can be integrated in a package height of 0.2mm. The technology covers the spectrum from 250nm wavelength to 22.5 microns. The small, thin and customable size of the package allows the deployment of the thermopile heat sensor in a variety of applications where it was not previously possible.
The sensors can be arranged in linear and area arrays for increased functionality. According to JonDeTech applications could include: presence absence detection for laptops, contactless temp measurement in multiple applications; temperature surveillance inside products such as smartphones and wearables; car heat surveillance and comfort temperature forecasting.
"Jiuyou Fund will be an important part of our go-to-market platform and we look forward to a mutually beneficial and long-term cooperation," said Per Lindeberg, CEO of JonDeTech, in a statement.
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