QuickCool AB enters into a financing agreement with European High Growth Opportunities Securitization Fund through its advisor Alpha Blue Ocean

QuickCool AB (Publ) ("QuickCool" or the "Company") has entered into a financing agreement with European High Growth Opportunities Securitization Fund through its financial advisor Alpha Blue Ocean Inc., regarding a financing solution based on the issuance of convertible bonds with warrants attached. The financing solution means that the Company is able, over a 18-month period, to receive SEK 14.0 M. The Company can receive an additional SEK 12 M if desired, and potentially up to an additional SEK 7.8 M, if all the warrants issued are exercised.

QuickCool has entered into the financing agreement in order to secure the Company's financing. The financing will provide capital to QuickCool over the next 18 months and finance the finalization of the Company’s CE-mark activities, as well as the production start and market launch. The annual general meeting on 3 May 2018 and the extraordinary general meeting on 4 June 2018 empowered the Board of Directors to issue convertibles and warrants. These authorizations have enabled this financing agreement. “We have investigated and evaluated several cost-effective and flexible financing alternatives. This financing solution fits our short-term needs for ordering components, for finalizing our CE-mark process and related activities as well as the initial market launches. Now, we can focus on our launch without losing momentum", says QuickCool’s CEO Fredrik Radencrantz.
Pierre Vannineuse, CEO and founder of London based Alpha Blue Ocean Investment Group, and who also heads European High Growth Opportunities Securitization Fund, comments: "We welcome QuickCool to our portfolio of investments. This transaction is part of Alpha Blue Ocean's intention to invest two Billion Euros in European healthcare companies in the next few 24 months. QuickCool’s patented intranasal cooling solution is unique and the Company is in a very exciting phase, so we are really looking forward to following QuickCool’s expansion at close range."

Main conditions
The financing solution is based on the issuance of convertible bonds and warrants with the right to convert or to exercise these into class B shares of the Company. The financing shall take place over a 18 month period. During this period, the Company will be able to receive SEK 14 Million through the issuance of seven tranches comprising convertible bonds with warrants attached. If the Company decides to increase the funding, the Company will be able to receive an additional SEK 12 Million through the issuance of up to six additional tranches. The tranches amount to SEK 2 Million each. European High Growth Opportunities Securitization Fund also entered into a share lending agreement for a total number of 629,000 shares with one shareholder of the Company.

In connection with each Tranche, warrants will be issued entitling European High Growth Opportunities Securitization Fund to receive class B shares of the Company upon their exercise. If all warrants issued under the total commitment are exercised, the Company will receive SEK 7.8 Million (i.e. 30 per cent of the total commitment). All in all, this means that the Company may receive up to SEK 33.8 Million.

Convertible bonds must be converted into class B shares within 12 months from their respective date of issuance. Warrants must be exercised within 3 years from their respective date of issuance. Convertible bonds will be issued at a subscription price corresponding to their nominal value.

The convertible bonds will have to be converted within twelve months as from their respective issuance date and at a conversion price corresponding to 90% of the lowest daily VWAP (volume weighted average price) during the 15 trading days prior to the receipt of a conversion request.

The exercise price of the warrants will be calculated, for each Tranche of warrants, as 120% of the lowest daily VWAP observed during the 15 trading days prior to the trading day on which the Company requests European High Growth Opportunities Securitization Fund to subscribe for new convertible bonds, that is when the Company calls for a Tranche. However, it is specified that regarding the first tranche, the exercise price of the warrants shall be equal to 120% of the lower between SEK 1.7030 and the lowest daily VWAP over the 15 trading days prior to the request to issue the first tranche.

If the total commitment is exercised, which means convertible bonds of SEK 26 Million in total nominal value, the costs of the Company for, among other things, financial and legal services will amount to approximately 7 per cent of the overall commitment. In the event that all warrants are exercised, the costs are estimated to be just over 5 percent of the total commitment.

About European High Growth Opportunities Securitization Fund (EHGO)
European High Growth Opportunities Securitization Fund SF is an institutional investment company based in Luxembourg which focuses on financing innovative companies in Europe that are deemed to be significantly undervalued. Alpha Blue Ocean is the exclusive advisor to EHGO. Their mandate is to invest in innovative European companies, thereby supporting their needs for growth capital by providing a credible European funding option. About Alpha Blue Ocean Investment Group Alpha Blue Ocean, founded by Pierre Vannineuse, is responsible for a family of investments and operates across multiple jurisdictions and focuses on financing innovative technologies while retaining a passive role in the management of its portfolio companies. Alpha Blue Ocean specialises in providing flexible and innovative nonInvasive Loans and Equity-financing to listed companies globally and in health, energy, mining and technology. Alpha Blue Ocean's head office is based in London, United Kingdom.

For more information, please contact
Fredrik Radencrantz, CEO
Phone: 046-286 38 40
E-mail: fredrik.radencrantz@quickcool.se

This information is such that QuickCool AB is required to make public in accordance with the EU’s market abuse regulation (MAR) and the Swedish Securities Market Act. The information was made publicly available by the Company’s contact person on 20 June 2018.

Quickcool is a Swedish medical technology company, whose business concept is to save lives and prevent brain damage in acute ischemia (Inadequate blood supply to the brain) by developing and providing a unique and globally patented cooling system, the Quickcool SYSTEM. Quickcool is active in the fast-growing market, Targeted Temperature Management (TTM), for brain-protective cooling treatment of patients with e.g. acute cardiac arrest and stroke. QuickCool’s solution protects the brain by cooling in the nasal cavity and thus takes advantage of the innate heat exchanger in the nose. QuickCool’s Intranasal method offers gentle and uninterrupted cooling treatment for sedated patients. Quickcool is listed on Spotlight Stock Market and conducts its business at Ideon Science Park in Lund. For more Information, please refer to www.quickcool.se.

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