NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, WITHIN OR TO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, SINGAPORE, SOUTH AFRICA, JAPAN OR HONG KONG OR WITHIN ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OF THIS PRESS RELEASE WOULD NOT COMPLY WITH APPLICABLE LAWS AND REGULATIONS.
C-Rad AB (publ) (”C-RAD” or the ”Company”) today announces that the fully guaranteed new share issue with preferential right for existing shareholders (the ”Rights Issue”) has been completed. A total of SEK 32,115,575.25, corresponding to 70.7 percent of the Rights Issue was subscribed for. SEK 29,526,403.50, corresponding to 65.0 percent of the Rights Issue, was subscribed for with subscription rights and a total of SEK 2,589,171.75, corresponding to 5.7 percent of the Rights Issue, was subscribed for and allocated without subscription rights. The remaining part of the Rights Issue, corresponding to SEK 13,311,647.25 or 29.3 percent of the total proceeds, was allocated to guarantors. As the Rights Issue was not over-subscribed, the over-allotment option described in the prospectus will not be exercised.
Shares subscribed for without subscription rights have been allotted in accordance with the principles stated in the prospectus prepared in connection with the Rights Issue and published on April 28, 2016. Notice of the allotment of shares subscribed for without subscription rights will be sent out within shortly to those who have been allotted shares.
In total, the Rights Issue will provide C-RAD with SEK 45,427,222.50 before issue costs. The number of shares will increase from 22,025,323 to 27,531,653 shares, of which 862,887 are A-shares and 26,668,766 are B-shares, when the new shares have been registered with the Swedish Companies Registration Office. Trading in the new shares on Nasdaq Stockholm is expected to start around May 30, 2016.
C-RAD’s CEO Tim Thurn’s comments:
”During the last years our direct sales force has shown to be the most effective and efficient sales channel for our products in the mid-term. Therefore we have invested and continue to invest in our sales force in existing as well as in new markets which show large potential. The proceeds from the share increase will enable us to finance the expansion. Now we will focus our resources to develop the business and achieve our targets.”
Advisors
Pareto Securities AB was acting as financial advisor and Baker & McKenzie Advokatbyrå KB was acting as legal advisor to Pareto Securities and C-RAD in conjunction with the Rights Issue.
IMPORTANT INFORMATION
This press release is not an offer or solicitation to acquire shares in C-RAD.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended. C-RAD does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. The information in this press release may not be announced, published or distributed, directly or indirectly, to the United States, Canada, Australia, New Zealand, Singapore, South Africa, Japan or Hong Kong or in any other jurisdiction where the announcement, publication or distribution of the information would not comply with applicable laws and regulations.
