20 October, 2022

Azelio announces outcome in the company's fully guaranteed rights issue



Today, Azelio AB (publ) ("Azelio" or the "Company") announces the outcome of the Company's fully guaranteed rights issue (the "Rights Issue"), which concludes that 16,422,979 units, corresponding to approximately 56.7 per cent of the offered units, have been subscribed for with unit rights in the Rights Issue. Additionally, applications for subscription of 737,613 units without unit rights, corresponding to approximately 2.5 per cent of the offered units, have been received. In aggregate, the subscriptions by exercise of unit rights and the applications for subscription without unit rights correspond to approximately 59.2 per cent of the offered units. Hence, guarantee commitments of approximately 11,808,703 million units, corresponding to approximately 40.8 per cent of the offered units, will be utilised. The Rights Issue will provide the Company with approximately SEK 300 million before deduction of costs related to the Rights Issue.

On 23 September 2022, Azelio announced that the board of directors, pursuant to the authorisation granted by the annual general meeting on 12 May 2022, had resolved on a fully guaranteed rights issue of units, consisting of new shares and warrants, of up to approximately SEK 300 million.

 

Final outcome

The Rights Issue is comprised of 28,969,295 units, of which 16,422,979 units, corresponding to approximately 56.7 per cent of the offered units, have been subscribed for with unit rights. Additionally, applications for subscription of 737,613 units without unit rights, corresponding to approximately 2.5 per cent of the offered units, have been received. Consequently, the Rights Issue is subscribed to approximately 59.2 per cent of the offered units with and without the support of unit rights. Guarantee commitments of 11,808,703 units, corresponding to approximately 40.8 per cent of the offered units, will be utilized. The last day of trading in paid subscribed units (Sw. BTU) is expected to be on 26 October 2022. Trading in the new shares and warrants subscribed for with and without unit rights are expected to commence on Nasdaq First North Premier Growth Market on or about 31 October 2022.

 

Notice of allotment

Those who have subscribed for units without unit rights will be allocated units in accordance with the allotment principles set out in the prospectus published on 28 September 2022. Notice of allotment to the persons who subscribed for units without unit rights is expected to be distributed on 20 October 2022. Subscribed and allotted units shall be paid in cash in accordance with the instructions on the contract note. Subscribers who have subscribed through a nominee will receive notification of allocation in accordance with their respective nominee's procedures. Only those who have been allotted units will be notified.

 

Number of shares and share capital

Through the Rights Issue, the number of shares in Azelio will increase by 202,785,065, from 115,877,180 to 318,662,245 and the share capital will increase by a maximum of approximately SEK 101,392,535.43, from approximately SEK 57,938,591.67 to approximately SEK 159,331,127.10.

 

Upon full exercise of the warrants of series TO33 covered by the Rights Issue, the number of shares may increase by up to an additional 28,969,295 shares, from 318,662,245 to 347,631,540 and the share capital to increase by up to additional approximately SEK 14,484,647.92, from approximately SEK 159,331,127.10 to approximately SEK 173,815,775.02, provided that all warrants are exercised.

 

Advisers

Carnegie Investment Bank AB (publ) and Pareto Securities AB act as Joint Global Coordinators and Bookrunners. Advokatfirman Vinge is legal adviser to the Company and Baker McKenzie is legal adviser to the Joint Global Coordinators and Bookrunners in connection with the Rights Issue.

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