Cline Scientific

Outcome of the Rights Issue

The subscription period in the Rights Issue ended on July 31, 2023. In total, 25,738,461 shares, divided into 2,171,946 class A shares and 23,566,515 class B shares, were subscribed for with and without support of subscription rights, corresponding to approximately 66.8 percent of the Rights Issue. 18,662,738 shares were subscribed for with subscription rights, corresponding to approximately 48.4 percent, whereas 7,075,723 shares were subscribed for without subscription rights, corresponding to approximately 18.4 percent of the Rights Issue.

Through the Rights Issue, the Company receives approximately SEK 6.1 million before deduction of issue costs, which amount to approximately SEK 0.6 million.

Notice of allotment and delivery

Allotment of units subscribed for without subscription rights, has been carried out in accordance with the allotment principles set out in the memorandum that was published on June 22, 2023. Notification of the allotment of units subscribed for without unit rights, will be sent via a separate settlement note. Nominee shareholders receive notification of allotment in accordance with the respective nominee's routines. 

Changes in share capital and number of shares

Through the Rights Issue, the number of shares in Cline increases by 25,738,461 shares, of which 2,171,946 class A shares and 23,566,515 class B shares, from 19,571,224 shares to 45,309,685 shares, and the share capital increases by SEK 2,573,846.10, from SEK 1,957,122.40 to SEK 4,530,968.50, corresponding to a dilution effect of approximately 56.8 percent.

"I am very happy to announce that our rights issue has been a great success. Thanks to our loyal shareholders and investors, led by our largest owner Patrik Sundh, we have strengthened our financial position and enabled exciting new opportunities for the future. Together, we have proven the power of our company and we look forward to continuing to grow and create value for all our stakeholders", CEO Hanne Evenbratt.

For more information, please contact:

Hanne Evenbratt, VD
E-post: hanne.evenbratt@clinescientific.com
Telefon: +46 704 88 79 23

Patrik Sundh, Styrelseledamot
E-post: patrik.sundh@clinescientific.com
Telefon: +46 0703585088

The company is listed on the Nasdaq First North Growth Market. Redeye AB is Cline Scientific's Certified Adviser. The information was submitted for publication via the contact person listed above, at 1:31pm CEST on 02 August 2023.

About Cline Scientific

Cline Scientific develops advanced cancer diagnostics and regenerative medicine treatments. Cline's unique patented surface nanotechnology provides solutions to critical challenges for cell-based products and process in Life Science. Cline is driving two projects through to a clinical stage, StemCART - a stem cell therapy for joint repair, and CellRACE- a cancer diagnostic to predict metastasis.

Important Information
The publication, release or distribution of this press release may be subject to restrictions in certain jurisdictions. Recipients of this press release in those jurisdictions where this press release has been published, disclosed or distributed should inform themselves of and observe any such restrictions. This press release does not constitute an offer of, or an invitation to acquire or subscribe for, any securities of Cline Scientific in any jurisdiction.

This press release does not constitute an offer or invitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The information contained in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, in or into the United Kingdom, the United States, Canada, Japan, Australia, Hong Kong, New Zealand, South Africa, South Korea or any other jurisdiction where such release, publication or distribution would be contrary to applicable law or regulation.

Within the European Economic Area, no securities are offered to the public in any country other than Sweden.

This press release contains certain forward-looking information that reflects the Company's current views on future events and financial and operational developments. Words such as "intends", "estimates", "expects", "may", "plans", "believes", "estimates" and other expressions which imply indications or predictions of future developments or trends, and which are not based on historical facts, constitute forward-looking information. Forward-looking information is inherently subject to known and unknown risks and uncertainties because it depends on future events and circumstances. Forward-looking information is not a guarantee of future performance or development, and actual results may differ materially from those expressed in the forward-looking information.