Change in number of shares in BrainCool AB (publ), long term investor group acquires all converted shares from L1 Capital

Conversion of convertible notes into shares, as part of the financing agreements announced 5 November, 2018, and 22 January, 2019.

The number of convertible notes converted on May 6, 2019, was 48. The number of convertible notes remaining under the third tranche for future conversion is 0. The number of convertible notes remaining under the fourth tranche is 45. The number of shares and the number of votes before the conversion was 38 526 803. Through this conversion, and once the shares from the conversion will be registered at Bolagsverket, the number of shares and the number of votes shall have increased by 954 274. The total number of shares and total number of votes after this conversion and once the shares have been registered at Bolagsverket will amount to 39 481 077.

Conversion price is 5,03 SEK per share and conversion amount is 4 800 000 SEK.

For terms and conditions of the convertible notes, please visit:

http://www.braincool.se/en/nyemission_en/ 

In conjunction with this conversion, BrainCool has mediated a transaction in which all 954 274 converted shares are acquired by an investor group with a long-term investment horizon. The transaction has been conducted outside the stock exchange.

BrainCools CEO Martin Waleij comments;

-          BrainCool’s collaboration with L1/ESGO continues in a positive manner. L1/ESGO has not converted shares for a long period, allowing BrainCool to compose this investment consisting of an investor group, with a long-term investment horizon, that acquired all converted shares.

-           

-          BrainCool mediated the deal and we have had great interest from additional long-term investors who wanted to participate in the transaction, but which BrainCool had to decline because of the transaction's scope. This entails that BrainCool has good opportunities to mediate a similar transaction for the remaining 45 outstanding convertibles, which we regard as increased shareholder value. BrainCool does not intend to use this financing model any.

This information is information that BrainCool (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out herein, on February 28, 2019. 

For more information

Martin Waleij - CEO                                                               
+46 - 733 -93 70 76                                                                                          
E-mail: martin.waleij@braincool.se                       

About BrainCool AB (publ)

BrainCool AB (publ) is an innovative medical device company that develops, markets, and sells leading medical cooling systems for indications and areas with significant medical benefits within the healthcare sector. The company focuses on two business segments, Brain Cooling and Pain Management. BrainCool AB (publ) is based in Lund, Sweden, and its share is listed on Spotlight Stock Market.