Calmark's rights issue massively oversubscribed, provides MSEK 24.3 in total

Calmark's rights issue massively oversubscribed, provides MSEK 24.3 in total

Pressmeddelanden
Press releases
The Board of Directors of Calmark Sweden AB (publ) (“Calmark” or “the Company”) announces today the outcome of the issue of units with preferential rights for existing shareholders, which was resolved upon by the extraordinary general meeting on 6 November 2019. The rights issue has been subscribed to an amount of approximately MSEK 34.6, which corresponds to a subscription rate of approximately 142.4 percent. This provides the Company approximately MSEK 24.3 before issuance costs which amounts to approximately 2.7 MSEK. The new issue comprises 7,366,680 B shares and 2,455,560 Series TO 2 B subscription warrants.

The result of the rights issCalmark's rights issue massively oversubscribed, provides MSEK 24.3 in totalue shows that 551,650 units were subscribed with support of unit rights (corresponding to about 89.9 percent of the rights issue), and 322,697 units were subscribed without support of unit rights (corresponding to about 52.6 percent of the rights issue). Consequently, the rights issue is oversubscribed by approximately 42.4 percent. Due to the oversubscription, none of the guarantee undertakings have been utilized.

“The high subscription rate shows that the market has great faith in Calmark and our business model. We are proud of the confidence shown in us, but we are also humbled by our existing shareholders’ reaffirmation of their desire to accompany us on our journey, and by the fact that our new shareholders see the potential of the company's strategy,” says Anna Söderlund, CEO.

“This owner contribution gives us the means to realize our projected market launch of the initial three tests for jaundice, low blood sugar levels and asphyxia during 2020; in addition, the issue provides an opportunity to accelerate investments in production even further, to lower the manufacturing costs for the disposable items and increase gross margins considerably.”

Share capital and number of shares

The rights issue entails that the share capital increases by SEK 736,668.00, through a new issue of 7,366,680 B shares. When the issue has been registered with the Swedish Companies Registration Office, Calmark’s share capital will amount to SEK 2,025838.20, divided on 20,258,382 shares, each with a quota value of SEK 0.10. In addition to this, there are 2,455,560 Series TO 2 B subscription warrants outstanding.

Trading of paid subscription units (BTU)

Trading of paid subscription units (BTU) will be performed on Spotlight Stock Market until the rights issue has been registered with the Swedish Companies Registration Office. The registration with the Swedish Companies Registration Office is expected to take place towards week 51, 2019.

Notice on allotment

Notice on allotment to subscribers without support of unit rights will be given by way of contract notes, which will be sent out to the respective subscribers.

Summary of terms for the Series TO 2 B subscription warrants

Trading of the newly issued Series TO 2 B subscription warrants (ISIN code: SE0013282662) is expected to commence on Spotlight Stock Market in January 2020. Each (1) Series TO 2 B subscription warrant entitles the holder to subscribe for one (1) newly issued B share, at a subscription price calculated as 75 percent of the volume-weighted average price during the period 12 October 2020 up to and including 23 October 2020, but not less than SEK 4.20 or more than SEK 6.60. Subscription for B shares with warrants will be possible during the period between 4 December 2020 and 16 December 2020. On full exercise of all subscription warrants, the share capital will increase by SEK 245,556.00, from SEK 2,025,838.20 to SEK 2,271,394.20.

Financial advisor

Stockholm Corporate Finance has acted as Calmark’s financial adviser in the rights issue.

For more information, please contact;

Anna Söderlund, CEO
Telephone: +46 70 213 25 35
E-mail: anna.soderlund@calmark.se
www.calmark.se

Otto Rydbeck, CEO, Stockholm Corporate Finance AB
Telephone: +46 8 440 56 40
E-post: info@stockholmcorp.se
www.stockholmcorp.se

This information is information that Calmark Sweden AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 4 December 2019, 8:45 CET.

Every care has been taken in the translation of this document. In the event of discrepancies, the Swedish original will supersede the English translation.

About Calmark Sweden AB (publ)
Calmark is a medical technology company developing a point-of-care (POC) analysis method with easier and faster sampling of medical conditions in newborns. The unique test platform, which consists of a reader and single-use products, is expected to be ready for launch in 2020 when three important POC tests are introduced. The WHO estimates that 1.5 billion children will be born worldwide by 2030. In the Western world, the introduction of POC diagnostics is resulting in huge savings and shorter healthcare chains. In less developed healthcare systems, the product helps save lives. Calmark aims to become the global leader and ultimately to offer all relevant POC tests for the newborn's first period of life, wherever they are born. The B share is listed on the Spotlight Stock Market and is traded under the CALMA B ticker. Read more about Calmark at www.calmark.se/eng/home.

About Stockholm Corporate Finance
Stockholm Corporate Finance is a Swedish, independent and privately-owned financial advisor offering qualified transaction based advisory services by acting in capital raisings, changes in ownership, acquisition, merger and acquisitions (M&A) in listed and privately held companies. Stockholm Corporate Finance is the exclusive Swedish partner in the global network of M&A Worldwide consisting of 42 M&A advisors and investment banks in 43 countries. Stockholm Corporate Finance is an investment firm which is supervised by the FSA and is a member of the trade organization SwedSec Licensing AB. www.stockholmcorp.se.