NFO Drives AB announced a private placement of up to 10,000,000 common shares at a price of SEK 0.32 per share for maximum gross proceeds of SEK 3,200,000 on April 28, 2011. The company has received approval for the transaction in its annual general meeting. On February 4, 2012, the company announced that subscription period will start on February 6, 2012 and end on February 10, 2012. The payment date is February 15, 2012. On February 10, 2012, NFO Drives AB closed the transaction. The company has raised SEK 5,920,000 by issuing 18,500,000 common shares.