Stockholm-based Sleep Cycle AB, a publisher, unveils its prospectus and sets the price for its initial public offering on Nasdaq Stockholm.

Sleep Cycle AB, a leading sleep tracking application founded in 2009, is set to make its public debut on Nasdaq Stockholm on the 8th of June 2021, under the trading symbol "SLEEP". The offering, scheduled for 31st May 2021 - 7th June 2021, comprises of both existing and newly issued shares.

The total market value of all issued shares of the company prior to the offering stands at SEK 1,260 million. Skandinaviska Enskilda Banken AB (publ) and Carnegie Investment Bank AB (publ) are acting as Joint Global Coordinators and Joint Bookrunners for the offering. Notable investors such as Handelsbanken Fonder, Skandia Fonder AB, and E. Öhman J:or AB have committed to acquiring shares amounting to a total of SEK 150 million in the offering.

The offering price for Sleep Cycle's shares is SEK 70 per share. Stabilization measures may be carried out by SEB during the period starting on the date of commencement of trading in the shares on Nasdaq Stockholm and ending not later than 30 calendar days thereafter. However, SEB is not required to undertake any stabilization, and there is no assurance that stabilization will be undertaken.

Sleep Cycle's headquarters is based in Sweden. The company has seen a considerable increase in its subscriber base and is the largest sleep tracking application globally, with a market share of more than 50 percent. Sleep Cycle uses a patented AI-based audio technology to measure users' sleep and provide personalized insights.

The company launched the world's first audio-based sleep tracking application in 2015. In 2021, Sleep Cycle obtained certain market and competitive positioning information from a market report commissioned and paid for by the company and performed by Strategy&. According to the report, Sleep Cycle is the leading sleep tracking application globally based on Sleep Cycle's estimated net revenue relative to the total market size in 2020.

White & Case Advokat AB is legal advisor to the Joint Global Coordinators, while Advokatfirman Vinge KB is legal advisor to Sleep Cycle and the Selling Shareholders. If stabilization does commence, it may be suspended at any time without notice. If stabilization is carried out, SEB will disclose that the stabilization measures have been carried out not later than by the end of the seventh day of trading after stabilization transactions have been carried out. Within one week of the end of the stabilization period, SEB will disclose whether or not stabilization measures were carried out, the date on which stabilization started, the date on which stabilization was last carried out as well as the price range within which stabilization was carried out for each date on which stabilization transactions were carried out.

Under no circumstances will transactions be carried out at a price higher than the one set in the offering. Stabilization transactions may be effected on Nasdaq Stockholm, in the over-the-counter market, or otherwise. If stabilization does commence, it may be suspended at any time without notice. SEB will disclose that the stabilization measures have been carried out not later than by the end of the seventh day of trading after stabilization transactions have been carried out.