NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, BELARUS, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA, SWITZERLAND, RUSSIA, THE UNITED STATES OR ANY OTHER JURISDICTION, WHERE SUCH ACTIONS ARE SUBJECT TO LEGAL RESTRICTIONS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER REGARDING ANY SECURITIES IN LIDDS AB. SEE ALSO THE “IMPORTANT INFORMATION” SECTION BELOW.
LIDDS AB (publ) (”LIDDS”or the ”Company”) today announces the final outcome of the rights issue with preferential rights for the shareholders (the ”Rights Issue”), which subscription period ended 6 February 2023. The subscription breakdown shows that 25,253,268 shares, corresponding to approximately 72.7 percent of the Rights Issue, were subscribed for with or without the exercise of subscription rights, of which 20,688,813 shares, corresponding to approximately 59.6 percent of the Rights Issue, were subscribed for through the exercise of subscription rights, and 4,564,455 shares, corresponding to 13.1 percent of the Rights Issue, were subscribed for without the exercise of subscription rights. Thereby, the bottom guarantors are allocated approximately 8.6 percent of the Rights Issue, and the top guarantor approximately 14.4 percent of the Rights Issue, whereby the Rights Issue is subscribed to approximately 95.7 percent in total and LIDDS thereby obtain approximately 46.5 MSEK before issue costs. Those who have been allocated shares without the support of subscription rights will shortly be notified by settlement note or alternatively via their nominee.
The subscription period in the Rights Issue ended on 6 February 2023 and a final outcome shows that, approximately 35.4 MSEK of the Rights issue, was subscribed for with or without the exercise of subscription rights, corresponding to approximately 72.7 percent of the Rights issue, of which 20,688,813 shares, corresponding to approximately 20.7 MSEK or approximately 59.6 percent of the Rights Issue, was subscribed for through the exercise of subscription rights and 4,564,455 shares, corresponding to approximately 6.4 MSEK or approximately 13.1 percent of the Rights Issue, was subscribed for without the exercise of subscription rights. Thereby, the bottom guarantors are allocated approximately 8.6 percent of the Rights Issue, and the top guarantor approximately 14.4 percent of the Rights Issue. LIDDS obtain approximately 46.5 MSEK before issue costs.
Allocation in the Rights Issue
Those who have subscribed for shares without the exercise of subscription rights have been allocated shares in accordance with the principles stated in the prospectus published by the Company on January 17, 2023. In the event of allocation, the settlement note is expected to be sent out around February 9, 2023. Subscribed and allocated shares must be paid in cash in accordance with the instructions on the settlement note. Nominee registered shareholders will be notified of allocation in accordance with the nominee routines.
Dilution due to the Rights Issue
After registration of the Rights Issue at the Swedish Companies Registration Office, the Company’s share capital will increase by approximately 1,761,440.69 SEK to a total of approximately 3,602,649.61 SEK. The number of shares in the Company will increase by 33,234,730 to a total of 67,974,521. Shareholders who have not participated in the Rights Issue have thus had their ownership in LIDDS diluted by approximately 48.9 percent.
Trading in paid subscribed shares
Trading in paid subscribed shares (“BTA”) will take place on Nasdaq First North Growth Market until the week after the Rights Issue has been registered with the Swedish Companies Registration Office. Registration of the Rights Issue is expected to take place during week 8, 2023.
Advisors
Erik Penser Bank AB is financial advisor to LIDDS in connection with the share issue and Setterwalls Advokatbyrå AB is legal advisor.