BoMill Board of Directors proposes a secured new share issue of maximum SEK 21,9 million to scale up the commercialization of BoMill InSight

The Board of Directors of BoMill AB (”BoMill” or the ”Company”) proposes a rights issue to be decided at an extraordinary general meeting on 6 April 2023. The new share issue provides the Company with a maximum amount of approximately SEK 21,9 million before transaction costs. The conditions in the rights issue entitle shareholders for every holding of one current share the right to subscribe for one new share of a price of SEK 0,47 per share. The subscription of the rights issue is secured corresponding to 100 percent of the maximum amount of the rights issue by agreements the Company has entered into according to below.

The net proceeds from the rights issue will be used to scale up the commercialization of BoMill’s new generation of grain sorting equipment, BoMill InSight™, and support the continuous operations of the company. Following the field-testing phase, BoMill InSight™ was launched earlier this year, and two customer installations are already scheduled in Europe, for the first half of 2023. While the European market already shows interest in the technology, North and Latin America also presents great potential for BoMill technology. In collaboration with local partners, BoMill’s commercial activities in these markets have therefore intensified during 2023.

“With the proposed share issue, we can move forward and further support the commercialization of BoMill InSight™. The capitalization will strengthen the company's financial position in the short run and boost our sales and marketing activities, supporting our efforts in the North and Latin American markets. I am very pleased with the confidence investors show by committing to our rights issue and that they have acknowledged our sustainable and unique offer for grain sorting", says Andreas Jeppsson CEO, BoMill AB.

Summary of the proposed rights issue

• One (1) current share in BoMill at the date of record 13 April 2023 entitle the right to subscribe one (1) share by that each current share entitles to one (1) subscription right and one (1) subscription right provides the right to subscribe one (1) share.
• Subscription shall be made in cash at a price of SEK 0,47 per new share.
• BoMill will receive a maximum amount of approximately SEK 21,9 million in the proposed rights issue before transaction costs, which preliminary will be SEK 1,9 million.
• The subscription period will be 19 April to 3 May 2023.
• Subscription rights not used during the time for subscription will be invalid and lose their value. Trading with subscription rights will be available during 19 April to 28 April 2023.
• The rights issue may increase BoMill’s share capital with a maximum of SEK 13 958 721 to SEK 27 917 442 after taking into account the proposed decision by the board of directors to reduce the share capital at the same extraordinary general meeting to resolve the rights issue. The number of shares will increase with a maximum number of 46 529 070 shares to a maximum total of 93 058 140 shares. The maximum dilution is 50 %.
• Also those that are not shareholders are entitled to subscribe shares in the rights issue. The shares that are subscribed without support of subscription rights shall be allotted in accordance with the following:

1. Firstly, to those who have subscribed shares with support of subscription rights, regardless if they were shareholders on the record day and in the event of oversubscription, in relation to the number of used subscription rights, and if this cannot be realized, by draw;
2. Secondly, to those who have subscribed shares without support of subscription rights and not included in item (a) above, regardless if they were shareholders on the record day, in relation to the number of subscribed shares in this category, and if this cannot be realized, by draw; and
3. Thirdly, to those who have entered into a commitment regarding subscription and payment of the shares that have not been allotted to and/or paid by other subscribers, pro rata in relation to the maximum amount committed to subscribe or other agreed allocation among them that have entered into such commitment.

The subscription of the proposed rights issue is secured corresponding to 100 percent of the maximum amount of the rights issue by agreements the Company has entered into with:

1. current shareholders and people working for BoMill that have committed to subscribe shares by using subscription rights for an amount of approximately SEK 12 804 880, corresponding to approximately 59% of the maximum amount of the proposed rights issue;
2. current shareholders as guarantors that have committed to subscribe such shares that are not subscribed by others for a maximum amount of approximately SEK 9 063 782, corresponding to approximately 41% of the maximum amount of the proposed rights issue.

However, the commitments to subscribe are not secured by a bank guarantee, blocked funds, pledging or similar arrangements.

Preliminary time schedule for the proposed rights issue

• 11 April 2023: Last day of trading in BoMill shares including subscription rights.
• 12 April 2023: First day of trading in BoMill shares excluding subscription rights.
• 13 April 2023: Record date for participating in the rights issue.
• 19 April - 28 April 2023: Trading with subscription rights. 
• 19 April - 3 May 2023: Subscription period.
• 19 April 2023 - week 22/23, 2023: Trading with shares as BTA, to be continued until registration of the share issue at Companies Registration Office has been completed during the weeks 22/23, 2023.
• 8 May 2023: Publication of the result of the rights issue.

Change of reporting date for Q1-January - March 2023

The Board of Directors has decided to prepone the publication of the quarterly report for January - March 2023 to 12 April 2023, instead of 11 May 2023, to provide information to the shareholders on their decision to subscribe shares in the rights issue.

Issuer agent

Nordic Issuing will be issuer agent in the proposed rights issue.

This press release contains inside information that BoMill AB is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication on 6 March 2023, at 08.30am CET/CEST.

For more information about BoMill, please contact:

Andreas Jeppsson, CEO

Phone: +46 (0)727 00 11 82

E-mail: andreas.jeppsson@bomill.com

Cajsa Kapoor, CFO

Phone: +46 73-530 28 00

E-mail: cajsa.kapoor@bomill.com

Certified Adviser: Svensk Kapitalmarknadsgranskning AB

Phone: +46 (0)11 32 30 732

E-mail: ca@skmg.se

BoMill has developed and markets a patented technology for sorting grain on a commercial scale, based on the internal qualities of each kernel. The method is the only one of its kind on the market today and is estimated to have the potential to become a Golden Standard within the industry.

The company is listed on Nasdaq Stockholm First North Growth Market under the ticker: BOMILL.

For more information about BoMill, please visit www.bomill.com