During the period 15 to 29 November 2019, Calmark is carrying out a fully guaranteed preferential rights issue of units, consisting of B shares and warrants that can be exercised in December 2020. The main reason for the rights issue is to secure the company’s finances in view of the upcoming CE conformity marking and the subsequent sales launch in the first half of 2020.
“Calmark is a company based in Värmland, Sweden, and is seated in Karlstad. I am both happy and proud that our early, local business angels, who have been with us from the beginning, continue to have confidence in us as we are entering the final straight; we would not be in the position we are in today if it were not for them. It is also pleasing to note that our board members are deciding to become owners in the company as well, now that they are well acquainted with it,” says Anna Söderlund, Calmark's CEO. “Together, we can achieve our objective to become the global leader in point-of-care diagnostics for newborns.”
Subscription undertakings amounting to MSEK 16.5 (corresponding to 68 percent of the rights issue) has previously been received from existing shareholders (privately and through companies), including Lars Wingefors, Johnny Olsson, Måns Flodberg, founder and Chairman of the Board Mathias Karlsson and CEO Anna Söderlund, as well as from new investors. The subscription commitment from Wingefors Invest AB is limited to the maximum amount that does not exceed the mandatory bid threshold. The company has also received commitments from a guarantee consortium of qualified investors, amounting to approximately MSEK 7.8 or about 32 percent of the total amount of the Rights issue. The rights issue is hence guaranteed up to 100 percent of the initial issue amount.
Through the rights issue, the company is initially provided approximately MSEK 24.3 before issuance costs. On full exercise of all associated subscription warrants next year, the Company will receive between MSEK 10.3 and MSEK 16.2 additionally, before issuance costs.
For more information about Calmark Sweden AB and the ongoing rights issue, please refer to the information memorandum (available here) that has been drawn up for the rights issue.
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 26 November 2019.
Every care has been taken in the translation of this document. In the event of discrepancies, the Swedish original will supersede the English translation.