Brighter's rights issue heavily oversubscribed
Brighter's rights issue (subscription period February 7th-21st, 2014) has been heavily oversubscribed. The subscription rate was approx. 640 percent. The rights issue has brought Brighter approx. SEK 10.4 million, before issue costs. This means that the private placement in January 2014 and this rights issue have together generated a total of just over SEK 35 million, before issue costs, for Brighter.
"Both of our two recent new issues have attracted keen subscription interest. The purpose of the rights issue was to enable our existing shareholders to essentially maintain their share of votes and equity after the previously completed private placement, and it is encouraging that so many chose to use the opportunity for over-subscription that was presented," says Truls Sjöstedt, CEO of Brighter.
The final statement for the rights issue shows that received applications totaled approximately SEK 66.7 million, or a subscription rate of approx. 640 percent of the total issue amount (issue volume). The Board has decided to conduct the issue based on the original volume and to issue 1,487,185 new shares, with allotment based on the principles contained in the issue memorandum. Notification of allotment will be sent in a contract note, and payment is to be made in accordance with the contract note's instructions. Individuals who have not been allotted any shares will not receive notification.
The rights issue brings Brighter, approx. SEK 10.4 million, net of issue costs. The private placement of 3,571,428 shares on January 22nd, 2014, targeting a selected group of investors, and this rights issue have together generated a total of just over SEK 35 million, net of issue costs, for Brighter.
Trading in paid-up subscribed shares will be conducted on AktieTorget until the Swedish Companies Registration Office has registered the issue. This registration is expected to take place during March 2014. As soon as the issue has been registered with the Companies Registration Office, the paid-up subscribed shares will be replaced by shares without any special notification. After the two share issues, Brighter's share capital amounts to SEK 847,804.70, divided into 16,956,094 shares.
After the issues, the holdings of Brighter's founders are as follows: Truls Sjöstedt 29.0 (40.2) percent and Michael Frantzén 22.1 (31.5) percent.
For further information, please contact:
Truls Sjöstedt, CEO Brighter AB (publ)
Telephone: +46 709 73 46 00
E-mail: truls.sjostedt@brightercompany.com
Henrik Norström, acting CFO Brighter AB (publ)
Telephone: +46 733 40 30 45
E-mail: henrik.norstrom@brightercompany.com
About Brighter AB (publ)
Brighter One ™ – the patented all-in-one solution that combines the five things that millions of diabetics need to use several times every day to survive and feel well.
Brighter develops and commercializes innovative solutions for diabetes self-care. The Company's shares are listed on AktieTorget. More information is available at www.aktietorget.se.
For more information: www.brightercompany.com
Follow us on: www.facebook.com/brightercompany
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