The board of directors resolves to repurchase warrants series 2020/2023
The board of directors of AcouSort AB, 556824-1037 ("AcouSort", the "Company") decided on December 18, 2023, that the Company resolves to repurchase Warrants of series 2020/2023 as set out below.
As of the date of the proposal, there are 282,500 outstanding warrants of series 2020/2023, each entitling the holder to subscribe for 1.015 shares in the Company at a subscription price of SEK 14.58 during the period from and including 1 September 2023 up to and including 30 December 2023.
The Company shall offer to buy back a maximum of eight and a half (8.5) outstanding warrants (rounded to the nearest whole number) per exercised warrant at market value. The Offer is conditional upon the holders reinvesting the repurchase consideration in shares in the Company through exercise of the warrants retained. Holders who wish to accept the offer must submit their acceptance to the company no later than December 20, 2023. The holder is free to accept or reject the offer. If the market value of the warrants is SEK zero, the holder shall transfer the warrants free of charge to the Company upon acceptance.
A preliminary valuation of the market value of a warrant has been made using the Black & Scholes valuation model or the base value. Based on an assumed share price of SEK 16.27 at the time of the repurchase, the market value of a warrant of series 2020/2023 has been calculated to SEK 1.71. In the event of a repurchase, market values will be determined based on updated assumptions and known parameters. Based on the preliminary valuation, the purchase price would amount to a total of approximately SEK 0.4 million in the event of full acceptance/full repurchase of warrants. The total purchase price will be accommodated within the amount available under Chapter 17. Sections 3 and 4 of the Swedish Companies Act. Provided that one out of eight and a half (1/8.5) of the warrants is exercised for subscription of new shares, the Company will receive approximately SEK 0.4 million.
The reason for the offer is to make it easier for warrant holders in series 2020/2023 to exercise their warrants compared to if the warrant holders had financed the exercise of the warrants themselves.
The Offer does not entail any additional tax costs or transaction fees for the Company and, in addition, does not entail any major administrative handling for the Company. In addition, the dilution effect is reduced by the fact that some of the warrants in series 2020/2023 are repurchased instead of being exercised for subscription of shares.
FOR FURTHER INFORMATION ON ACOUSORT, PLEASE CONTACT:
Torsten Freltoft, CEO
AcouSort AB
Telephone: +45 2045 0854
E-mail: torsten.freltoft@acousort.com
ABOUT ACOUSORT
AcouSort AB (corporate registration number 556824-1037) is an innovative technology company focusing on developing products and solutions for integrated preparation of biological samples. With the help of sound waves, the company's products can separate blood cells, concentrate, purify, and stain cells, exosomes, and bacteria from biological samples. The technology of the company's products is acoustofluidics, where sound waves and microfluidics enable automated handling of samples in a range of application areas, from research on new biomarkers to the development of new diagnostic systems for near-patient testing – so-called Point-of Care (POC) systems. The company's commercialization strategy is based on the already proven business model of providing separation modules to diagnostic system manufacturers for integrated sample preparation as well as to continue the commercialization of the company's research instruments. With the help of the company's products and development of point-of-care tests, new diagnostic systems and treatments are enabled, addressing some of the most challenging disease areas of our time: cancer, infectious diseases, and cardiovascular diseases. AcouSort is listed at Nasdaq First North Growth Market. The Company’s Certified Adviser is Carnegie Investment Bank AB (publ).