Simris Alg
Simris Group AB publishes information memorandum for the Rights Issue
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, JAPAN, CANADA, NEW ZEALAND, SOUTH AFRICA, HONG KONG, SWITZERLAND, SINGAPORE, SOUTH KOREA, RUSSIA, BELARUS OR IN ANY OTHER JURISDICTION WHERE THE RELEASE, DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR REQUIRE ADDITIONAL REGISTRATION OR OTHER MEASURES BEYOND THOSE REQUIRED BY SWEDISH LAW. PLEASE SEE "IMPORTANT INFORMATION" AT THE END OF THIS PRESS RELEASE.
Simris Group AB (“Simris Group” or the “Company”) today, on July 31, 2023, announces the information memorandum relating to the Company's upcoming Rights Issue of shares of approximately SEK 24,3 million (the "Rights Issue"). The Rights Issue will be followed by a Directed Issue (the “Directed Issue”) of up to approximately SEK 26.6 million, to the underwriters of the Rights Issue. Total proceeds will amount to up to approximately SEK 51 million for the Rights Issue and the Directed Issue (before transaction costs).
The information memorandum is available on Simris Group’s website (www.simrisgroup.com) and on Aqurat Fondkommision’s website (www.aqurat.se). Application forms for subscription without subscription rights can be obtained from Simris Group’s and Aqurat’s websites as from the first day of the subscription period (August 2, 20023)
About the Rights Issue
The Extraordinary General Meeting of Simris Group resolved on July 24, 2023, to carry out the Rights Issue of a maximum of a maximum of 90,151,260 shares, entailing an increase of the share capital with a maximum of SEK 7,831,920.47. Provided that the Rights Issue is fully subscribed, the Company will receive proceeds of SEK 24.3 million before the deduction of transaction costs of no more than approximately SEK 1 million in cash, and underwriting costs of no more than approximately SEK 4.4 million in newly issued shares through the Directed Issue (as underwriting compensation).
The Extraordinary General Meeting also resolved to carry out a Directed Issue to the underwriters at the same conditions as in the Rights Issue. The Directed Issue means that a maximum of 98,648,654 shares may be issued. Accordingly, the share capital may increase further by a maximum of SEK 8,570,134.38 from SEK 23,495,761.42 to a maximum of SEK 32,065,895.80. The total issue proceeds can amount to no more than approximately SEK 26.6 million, approximately SEK 51 million in total for the Rights Issue and the Directed Issue.
The proceeds from the Rights Issue and the Directed issue shall primarily provide the Company with working capital to secure continued operations, repay loans and enable further investments.
Preliminary timetable
31 July 2023 | Record date for the right to receive subscription rights in the Rights Issue |
31 July 2023 | Publication of the information memorandum regarding the Rights Issue |
2 – 11 August 2023 | Trading in subscription rights at Nasdaq First North Growth Market |
2 – 16 August 2023 | Subscription period for the Rights Issue |
2 August 2023 until the Rights Issue has been registered by the Swedish Companies Registration Office | Trading in paid subscribed shares (BTA) at Nasdaq First North Growth Market |
Around 21 August 2023 | The outcome of the Rights Issue is announced |
Terms and conditions for the Rights Issue
- The subscription price is SEK 0,27 per share.
- The Rights Issue comprises a maximum of 90,151,260 shares. Thus, the Rights Issue will entail a share capital increase by a maximum of SEK 7,831,920.47 from SEK 15,663,840.95 to SEK 23,495,761.42.
- The Directed Issue comprises a maximum of 98,648,654 shares. Accordingly, the share capital may increase further by a maximum of SEK 8,570,134.38 from SEK 23,495,761.42 to a maximum of SEK 32,065,895.80.
- Upon full subscription of shares in the Rights Issue, the Company will initially receive approximately SEK 24,3 million before deduction of issue costs. Upon full subscription of the Rights Issue, the Company will additionally receive a maximum of approximately SEK 26,6 million, before deduction of issue costs, in the Directed Issue.
- Existing shareholders received one (1) subscription right for each share held on the record date on 31 July 2023. Two (2) subscription rights entitle the holder to subscribe for one (1) new share in the Company.
- Simris Group has received subscription commitments of approximately SEK 2.1 million and underwriting commitments of approximately SEK 22.2 million, corresponding to a total of approximately 100 percent of the Rights Issue.
Advisors
The Company has engaged Amudova AB as regulatory advisor and Advokatfirman Delphi as legal advisor while Aqurat Fondkommission act as issuing agent.
Datum | 2023-07-31, kl 19:15 |
Källa | MFN |
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