Eurobattery Minerals

Final outcome

The Rights issue comprised a total of 36,594,058 units. One (1) unit consists of two (2) new shares, one (1) warrant of series TO4 and one (1) warrant of series TO5. The final outcome shows that 26,230,296 units, corresponding to approximately 71.7 per cent of the Rights issue, were subscribed for with unit rights. 2,058,442 units, corresponding to approximately 5.6 per cent of the Rights issue, were subscribed for without unit rights. The outcome implies that no underwriting commitments will be claimed. Altogether, the Rights issue was subscribed to approximately 77.3 per cent.

Other information

Through the Rights issue, the Company receives gross proceeds of approximately SEK 22.6 million (of which SEK 1.6 million is obtained through set-off of debts). The number of shares will increase by 56,577,476, from 36,594,058 to 93,171,534, when the new shares are registered at the Swedish Companies Registration Office which is expected to take place in the beginning of February 2024. The share capital will increase by SEK 22,630,990.40, from SEK 14,637,623.20 to SEK 37,268,613.60, after consideration of the share capital reduction decided at the Extraordinary General Meeting of the Company on 27 December 2023 which will be registered in connection with the registration of the Rights issue at the Swedish Companies Registration Office. The dilution for the shareholders who did not participate in the Rights issue amounts to approximately 60.7 per cent.

Trading in paid subscribed units (“BTU”) continues until the registration of the Rights issue at the Swedish Companies Registration Office. As soon as the Rights issue has been registered, BTU will be converted into shares and warrants of series TO4 and TO5. Altogether, 28,288,738 warrants of series TO4 and 28,288,738 warrants of series TO5 will be issued, which will entitle the holders to subscribe for one new share per warrant during the periods 7 May – 21 May 2024 and 7 October – 18 October 2024 respectively. Upon full exercise of all warrants of series TO4 and TO5, the Company’s share will be diluted by an additional approximately 37.8 per cent.

Allocation of units subscribed for without unit rights has been made in accordance with the principles described in the EU growth prospectus which was prepared due to the Rights issue and published on 3 January 2024. Notice of allocation of units subscribed for without unit rights will be sent to those who have been allotted units today, 24 January 2024. Subscribed and allotted units should be paid in cash and the payment should be received by Aqurat Fondkommission AB at the latest on the settlement day, 29 January 2024, according to the instructions on the settlement note.

Advisers
Augment Partners AB is acting as the financial advisor and Advokatfirman Schjødt is acting as the legal advisor to the Company in connection with the transaction.

IMPORTANT INFORMATION

Publication, release, or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Eurobattery in any jurisdiction, either from Eurobattery or from anyone else.

This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus regarding the Rights issue which is described in this press release has been registered by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) and is available, among other things, on Eurobattery’s website.

This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.