BillerudKorsnäs’ rights issue significantly oversubscribed
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BillerudKorsnäs AB (publ) (“BillerudKorsnäs” or the “Company”) announces that its rights issue has been oversubscribed. The subscription period for the rights issue ended on 17 June 2022. The final outcome of the rights issue shows that 40,231,816 shares, corresponding to approximately 97 per cent of the offered shares, were subscribed for with subscription rights. The remaining 1,159,772 shares will be allotted to those who have subscribed for shares without subscription rights. The rights issue is therefore fully subscribed and BillerudKorsnäs will from the rights issue receive proceeds of approximately SEK 3,498 million before the deduction of transaction costs.
The final outcome shows that 40,231,816 shares, corresponding to approximately 97 per cent of the offered shares in the rights issue, have been subscribed for by the exercise of subscription rights. The remaining 1,159,772 shares that were not subscribed for with subscription rights will be allotted to those who have subscribed for shares without subscription rights in accordance with the principles described in the prospectus. The rights issue has attracted a significant interest and consequently the rights issue was oversubscribed by 211 per cent. Thus, the rights issue is fully subscribed and no underwriting commitments have been utilised.
The last day of trading with Paid Subscribed Shares (Sw. BTA) is 30 June 2022. New shares subscribed for with subscription rights are expected to be registered with the Swedish Companies Registration Office on or about 29 June 2022 and trading in the new shares is expected to commence on Nasdaq Stockholm on or about 6 July 2022. The shares subscribed for without subscription rights are expected to commence trading on Nasdaq Stockholm on or about 6 July 2022.
Financial and legal advisors
Danske Bank A/S, Danmark, Sverige filial and Skandinaviska Enskilda Banken AB are acting as Joint Global Coordinators and Joint Bookrunners. Advokatfirman Cederquist KB is acting as legal advisor to the Company as to Swedish law and Skadden, Arps, Slate, Meagher & Flom (UK) LLP is acting as legal advisor to the Company as to US law. Linklaters Advokatbyrå AB is legal advisor to the Joint Global Coordinators and Joint Bookrunners in connection to the rights issue.
For more information, please contact:
Christoph Michalski, President and CEO, +46 703 553 098
Ivar Vatne, CFO, +46 8 553 335 07
The information was submitted for publication, through the agency of the contact persons above, at 12:00 CEST on 27 June 2022.
Important information
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This press release does not contain or constitute an invitation nor offer to acquire, sell, subscribe for or otherwise trade in shares, subscription rights or other securities in BillerudKorsnäs in the United States or otherwise. This press release has not been approved by any regulatory authority and is not a prospectus and accordingly, investors should not subscribe for or purchase any securities referred to in this press release except on the basis of information contained in the prospectus.
This press release is not directed to persons located in the United States, Canada, Japan, Australia, Hong Kong, New Zealand, Singapore, South Africa or in any other jurisdiction where the offer or sale of the subscription rights, paid subscribed shares (Sw. betalda tecknade aktier) or new shares is not permitted. This press release may not be released, published or distributed, directly or indirectly, in or into the United States, Canada, Japan, Australia, Hong Kong, New Zealand, Singapore, South Africa or any other jurisdiction where such measure is wholly or partially subject to legal restrictions or where such measure would require additional prospectuses, offer documents, registrations or any other measure in addition to what is required under Swedish law. The information in this press release may not be forwarded, reproduced or disclosed in such a manner that would contravene such restrictions or would require such additional prospectuses, offer documents, registrations or any other measure. Failure to comply with this instruction may result in a violation of the United States Securities Act of 1933, as amended, (the “Securities Act”) or laws applicable in other jurisdictions. No subscription rights, paid subscribed shares or new shares have been or will be registered under the Securities Act, or with any other securities regulatory authority of any state or other jurisdiction of the United States and no paid subscribed shares or new shares may be offered, sold, resold, transferred, delivered or distributed, directly or indirectly, into or within the United States or on account of such persons other than pursuant to an exemption from, or in a transaction not subject to the registration requirements of the Securities Act, and in compliance with any applicable securities laws of any state or jurisdiction of the United States. No public offering of subscription rights, paid subscribed shares or new shares is made in the United States. There is no intention to register any securities referred to herein in the United States or to make a public offering in the United States.
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