SOZAP

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SWITZERLAND, SINGAPORE, SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL, BE SUBJECT TO LEGAL RESTRICTIONS OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.

The subscription period for the rights issue in SOZAP AB (publ) (“SOZAP” or the “Company”) ended on 7 June 2024. The final outcome shows that 8,659,024 shares, corresponding to approximately 57.2 percent of the rights issue, were subscribed for with subscription rights. Additionally, applications have been received for subscription without subscription rights of 2,218,067 shares, corresponding to approximately 14.6 percent of the rights issue. The rights issue is thereby subscribed to 71.8 percent, resulting in proceeds for SOZAP of approximately SEK 8.2 million before deductions of issue costs.

“With this subscription rate, we believe that the proceeds from the rights issue will be sufficient to execute on our plan for a global launch of Fishing Tour with neutral operating cash flow. It is positive that all executives and board members are now shareholders, with a combined ownership of 38 percent of the total number of shares in the company” says CEO Rade Prokopovic.

The final outcome of the rights issue shows that 8,659,024 shares, corresponding to approximately 57.2 percent of the rights issue, were subscribed for with subscription rights. Additionally, applications have been received for subscription without subscription rights of 2,218,067 shares, corresponding to approximately 14.6 percent of the rights issue.

The rights issue is thereby subscribed to 71.8 percent, resulting in proceeds for SOZAP of approximately SEK 8.2 million before deductions of issue costs. The issue costs are estimated to amount to approximately SEK 0.6 million. The Company’s share capital will increase by 1,087,709.10 SEK to 2,223,821.10 SEK and the total number of shares will increase by 10,877,091 to 22,238,211.

Those who have subscribed for shares without subscription rights have been allocated new shares according to the principles outlined in the information memorandum. Notice of allocation to investors who have subscribed for shares without subscription rights will be sent out today, on 11 June 2024. Subscribed and allocated shares must be paid for in cash in accordance with the instructions in the contract note, no later than 14 June 2024. Nominee-registered shareholders will receive a notification of allocation in accordance with the respective nominee’s procedures.

The last day of trading in paid subscribed shares (“BTA”) is on 25 June 2024. After the rights issue is registered with the Swedish Companies Registration Office, the BTA will be converted into shares.

Advisers

Augment Partners AB is acting as the financial advisor and Eversheds Sutherland Advokatbyrå AB is acting as the legal advisor in connection with the transaction.

IMPORTANT INFORMATION

Publication or distribution of this press release may in some jurisdictions be subject to statutory and legal restrictions and persons in those jurisdictions where this press release has been published or distributed should inform themselves about and observe such restrictions. The information in this press release does not constitute an offer to acquire, subscribe or otherwise trade in shares or other securities in SOZAP.

This press release does not constitute an offer to acquire securities in the United States. The securities mentioned herein may not be sold in the United States without registration in accordance with The Securities Act of 1933 or without the application of an exception to such registration. The information in this press release may not be released, published, reproduced or distributed in or to the United States, Australia, Canada, New Zealand, Hong Kong, Japan, Switzerland, Singapore, South Africa, or any other country or jurisdiction where such action is not permitted or such action is subject to legal restrictions or would require further registration or other measures than required by Swedish law. Measures contrary to this instruction may constitute a breach of applicable securities laws.