THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, BELARUS, HONG KONG, JAPAN, CANADA, NEW ZEALAND, RUSSIA, SWITZERLAND, UNITED KINGDOM, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, OR ANY OTHER JURISDICTION WHERE SUCH ACTION IS WHOLLY OR PARTIALLY SUBJECT TO LEGAL RESTRICTIONS. SEE ALSO THE "IMPORTANT INFORMATION" SECTION BELOW.
AcouSort today publishes an information memorandum concerning the Company's forthcoming Rights Issue. The information memorandum is available on the Company's website (www.acousort.com) and Erik Penser Bank's website (www.penser.se).
Terms for the Rights Issue
Each existing share held in the Company on the record date of 14 November 2023, entitles the holder to one (1) unit right. Twenty-four (24) unit rights entitle the holder to subscribe for one (1) Unit. One (1) Unit consists of three (3) shares and one (1) warrant of series TO 2 (the "Warrants").
In total, no more than 551,998 Units will be issued, meaning that up to 1,655,994 new shares and 551,998 warrants will be issued.
The subscription price for one (1) Unit is SEK 45.00, which corresponds to SEK 15.00 per new share. The Warrants are issued free of charge.
The dilution effect amounts to approximately 11.1 percent if the Rights Issue of Units is fully subscribed and to a total of approximately 14.3 percent if a subsequent full subscription of shares is made with the support of the Warrants. Shareholders have the opportunity to economically compensate for the dilution by selling their unit rights by 27 November 2023, at the latest.
The subscription period runs from and including 16 November 2023 up to and including 30 November 2023, with the right for AcouSort's Board of Directors to extend the subscription period and the time for payment. Trading in unit rights will take place on Nasdaq First North Growth Market during the period from and including 16 November 2023 up to and including 27 November 2023, and trading in BTU (paid subscribed units) will occur during the period from and including 16 November 2023 up to registration of the Rights Issue at the Swedish Companies Registration Office, which is expected to take place around week 49, 2023.
For complete terms and instructions for the Rights Issue, please refer to the information memorandum.
Preliminary time plan for the Rights Issue
+-------------------------------------------+----------------------------------+
|November 14, 2023                          |Record date for participation in  |
|                                           |the Rights Issue                  |
+-------------------------------------------+----------------------------------+
|November 16 - November 27, 2023            |Trading in unit rights on Nasdaq  |
|                                           |First North Growth Market         |
+-------------------------------------------+----------------------------------+
|November 16 - November 30, 2023            |Subscription period for the Rights|
|                                           |Issue                             |
+-------------------------------------------+----------------------------------+
|November 16 - registration of the Rights   |Trading in BTU (paid subscribed   |
|Issue at the Swedish Companies Registration|units)                            |
|Office                                     |                                  |
+-------------------------------------------+----------------------------------+
|December 4, 2023                           |Estimated date for the publication|
|                                           |of the outcome of the Rights Issue|
+-------------------------------------------+----------------------------------+
|March 10 - March 24, 2025                  |Subscription period for exercise  |
|                                           |of Warrants                       |
+-------------------------------------------+----------------------------------+
Advisors
Erik Penser Bank AB is the financial advisor and issuing agent and Fredersen Advokatbyrå AB is legal advisor to AcouSort in connection with the Rights Issue.