The Viljandi, Estonia-based autonomous vehicle technology developer and autonomous delivery robot producer Cleveron Mobility AS on Monday applied to Nasdaq Tallinn for a public offering and to be listed for shares trading on the multilateral trading facility First North.
"In accordance with the documents received, Nasdaq Tallinn started the procedure for Cleveron Mobility AS shares trading on the alternative market First North," Nasdaq Tallinn said in an announcement Monday.
The capital to be raised with the public offering will be up to €5 million, the company said. Investors interested in investing at least €100,000 will be given the opportunity to participate in a separate private placement.
Cleveron Mobility AS grew out of package terminal producer Cleveron AS. The former's goal is similar to that of its parent company — to expand to cities with increasing e-commerce volumes worldwide.
Between 2017-2021, Cleveron invested €7 million into delivery robot product and software development.
The separation of Cleveron Mobility from Cleveron was completed this April.
Editor: Aili Vahtla