Press release

Malmö, 30 October 2019

Inside information
Acarix AB

Acarix announce final outcome in rights issue

Acarix AB ("Acarix" or the "Company") has completed the new share issue of a maximum of 34,541,064 shares with preferential rights for the Company's existing shareholders, which was resolved upon by the board of directors on the 25 September 2019, pursuant to the authorization from the extra general meeting on 16 August 2019 (the "Rights Issue"). Acarix today announce the final outcome of the Rights Issue.

The Rights Issue was covered by subscription undertakings and guarantee commitments of up to approximately 83 percent of the Rights Issue, which amounted to a maximum of approximately SEK 51.8 million before deduction of transaction costs.

The final outcome shows that 16,356,468 shares, corresponding to approximately 47.4 percent of the Rights Issue, was subscribed for by exercise of subscription rights and that 3,307,570 shares, corresponding to approximately 9.6 percent of the Rights Issue had been subscribed for without use of subscription rights. Additionally, 7,002,629 shares, corresponding to approximately 20.2 percent of the Rights Issue, is subscribed for by exercise of a so called bottom guarantee and 2,000,000 shares, corresponding to approximately 5.8 percent of the Rights Issue, is subscribed for by exercise of a so called top guarantee.

 The board of directors has in accordance with adopted principles for allotment, therefore allotted 28,666,667 offered shares in the Rights Issue. The Rights Issue provides the Company with approximately SEK 43 million before deduction of transaction costs.

Summary of the Rights Issue
Holders of shares, which on the record date of 4 October 2019 were entered in the share register kept by Euroclear Sweden AB for Acarix, had the right to, with preferential right, subscribe for new shares in the Rights Issue in relation to the holders' existing holdings of shares. One (1) existing share held at the record date entitled the holder to three (3) subscription rights. Two (2) subscription rights entitled the holder to subscribe for one (1) new share. The subscription price in the Rights Issue amounted to SEK 1.50 SEK per share and the public also had the possibility to notify interest to subscribe for shares in the Rights Issue. The last day of trading in the Company's shares on Nasdaq First North Premier Growth Market with right to participate in the Rights Issue was on 2 October 2019. The first day of trading in the Company's shares on Nasdaq First North Premier Growth Market without right to participate in the Rights Issue was on 3 October 2019.

Outcome
The Rights Issue comprised a maximum of 34,541,064 shares, of which 16,356,468 shares, corresponding to approximately 47.4 percent of the Rights Issue, has been subscribed for by exercise of subscription rights. A total of 3,307,570 shares has been subscribed for without use of subscription rights. Thus, 19,664,038 shares, corresponding to approximately 56.9 percent of the offered shares, had been subscribed for with and without the use of subscription rights. A so called bottom guarantee of 7,002,629 shares, corresponding to approximately 20.2 percent of the Rights Issue, and a so called top guarantee of 2,000,000 shares, corresponding to approximately 5.8 percent of the Rights Issue, will thus be utilized. The board of directors has in accordance with adopted principles for allotment, thus allotted 28,666,667 offered shares in the Rights Issue.

"During the last couple of months, myself and the management team have had the privilege to meet many existing and prospective shareholders, and we are delighted to see such support in connection with the rights issue. Now our focus will be on implementing the strategical initiatives we have presented, which will increase our opportunities to market penetration and thereby reach stronger growth. I would also like to express our gratitude for the confidence placed on us by both old and new shareholders" – Per Persson, CEO, Acarix AB

Notice of allotment
Those who have subscribed for shares without use of subscription rights will be allotted shares in accordance with the principles for allotment set out in the EU growth prospectus which has been prepared for purposes of the Rights Issue. Notice of potential allotment of shares subscribed for without use of subscription rights will be provided through the distribution of a settlement note. Payment shall be made no later than three (3) banking days following issuance of the settlement note. Those who have not been allotted shares will not receive any notification hereof. If payment is not made at right time, the shares may be transferred to another party. Those who subscribe for shares without preferential rights through its nominee will receive notice of allotment in accordance with the nominee's procedures.

Number of shares, votes, share capital and dilution
Through the Rights Issue, Acarix' share capital will increase by SEK 28,666,667 to SEK 51,694,043. The total number of shares and votes will increase by 28,666,667, from 23,027,376 to 51,694,043 shares and votes.

For existing shareholders who did not subscribe for their pro rata share of the Rights Issue, a dilution effect of approximately 55.5 percent of the total number of shares and votes in the Company following the Rights Issue will arise.

On or around seven days following the registration of the Rights Issue with the Swedish Companies Registration office, paid subscribed shares (BTA) will be converted into new shares without any specific notice from Euroclear Sweden. The new shares will be admitted to trading in connection with that the BTAs are converted into shares, which is expected to take place around week 47, 2019.

Advisers
Redeye is acting as financial adviser and Baker & McKenzie Advokatbyrå KB is acting as legal adviser to Acarix in connection with the Rights Issue. Hagberg & Aneborn Fondkommission AB is acting as issuing agent.

Responsible parties
The information in this press release has been published through the agency of the below persons, at the time stated by Acarix AB's news distributor Cision at publication of this press release. The below persons may also be contacted for further information.

Per Persson, CEO, e-mail: per.persson@acarix.com, tel: +46 736 005 990

Christian Lindholm, CFO, e-mail: christian.lindholm@acarix.com, tel: +46 705 118 333

Corporate broking
Acarix has entered into a corporate broking agreement with Redeye Aktiebolag.

Certified Adviser
Wildeco Ekonomisk Information AB (+46 8 545 271 00, info@wildeco.se) is the Company's Certified Adviser.

About Acarix
Acarix was established in 2009 and is listed on Nasdaq First North Premier. Acarix's CADScor®System uses an advanced sensor placed on the skin above the heart to listen to the sounds of cardiac contraction movement and turbulent flow. It has been designed to be an all-in-one system in the sense that the heart signal will be recorded, processed, and displayed as a patient specific score, the CAD-score, on the device screen. Readings are obtained in approximately ten minutes. Safe and suitable for use in both out- and inpatient settings, the CADScor®System thus has the potential to play a major role in patient triage, avoiding the need for many patients to undergo stressful invasive diagnostic procedures. See more at www.acarix.com.

Important information
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Acarix in any jurisdiction, neither from Acarix nor from someone else.

Any investment decision in connection with the Rights Issue must be made on the basis of all publicly available information relating to the Company. Such information has not been independently verified by the Company's financial advisor. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness.

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 (the "Securities Act"), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into Australia, Hong Kong, Japan, Canada, New Zealand, Singapore, South Africa, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.

This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. An EU growth prospectus regarding the Rights Issue described in this press release has been approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) and is kept available on e.g. Acarix' website.

In the United Kingdom, this document and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, "qualified investors" who are (i) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this press release and should not act or rely on it.

Forward-looking statements
This press release contains forward-looking statements that reflect the Company's intentions, beliefs, or expectations about and targets for the Company's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are statements that do not relate to historical facts and may be identified by words such as "assume", "believe", "intend", "assess", "estimate", "should", "according to estimates", "anticipate", "predict", "expect", "is of the opinion", "may", "will", "plan", "potential", "prognosticate", "could", "as far known", or similar expressions where the purpose is to identify a statement as forward-looking.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from errors and readers of this press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release.

Information to distributors
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares in Acarix have been subject to a product approval process, which has determined that such shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "Target Market Assessment"). Notwithstanding the Target Market Assessment, Distributors should note that: the price of the shares in Acarix may decline and investors could lose all or part of their investment; the shares in Acarix offer no guaranteed income and no capital protection; and an investment in the shares in Acarix is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the share issue.

For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares in Acarix.

Each distributor is responsible for undertaking its own Target Market Assessment in respect of the shares in Acarix and determining appropriate distribution channels.



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