ChromoGenics announces outcome in rights issue
The Board of Directors of ChromoGenics AB (“ChromoGenics” or “the Company”) today announces the outcome of the new share issue of units with preferential rights for ChromoGenics’ shareholders (the “Rights Issue”) decided by the Board of Directors on February 8, 2022. May 2021. A total of 2,410,106 units were subscribed for with the support of unit rights, corresponding to approximately 42.4 percent of the Rights Issue, and 87,448 units without support of unit rights, corresponding to approximately 1.5 percent of the Rights Issue. The remaining part of the Rights Issue, corresponding to 2,038,919 units or 35.9 percent of the Rights Issue, was subscribed for by issue guarantors in accordance with the issue guarantee agreements entered into with the Company. ChromoGenics will thus receive approximately SEK 54.4 million before issue costs.
The subscription period in the Rights Issue ended on March 3, 2022 and the final outcome shows that the new share issue was subscribed for approximately SEK 28.9 million with the support of unit rights and approximately SEK 1.0 million without the support of unit rights. The remaining part, corresponding to approximately SEK 24.5 million, has been subscribed for by issue guarantors in accordance with entered into issue guarantee agreements.
Each unit consists of four (4) shares and four (4) warrants of series 2022/2023: 1. The Rights Issue issues 4,536,473 units consisting of 18,145,892 shares and 18,145,892 warrants series 2022/2023: 1. Four warrants entail the right to subscribe for one (1) new share in the Company. Subscription of shares with the support of warrants shall take place during the period 13 - 27 March 2023 at an exercise price corresponding to seventy (70) percent of the volume-weighted average price paid for ChromoGenics’ share on Nasdaq First North Growth Market during the period 21 February - 7 March 2023, however lowest SEK 2.50 and a maximum of SEK 4.50 per share. This means that ChromoGenics, upon full exercise of the warrants, may receive an additional approximately SEK 20.4 million before issue costs.
Allocation of units subscribed for without the support of unit rights within the framework of the Rights Issue has taken place in accordance with the principles set out in the EU Growth Prospectus published on 16 February 2022. Notification of allocation is made through a settlement note sent to the respective subscriber. Units must be paid in accordance with the instructions on the settlement note.
Following the registration of the Rights Issue with the Swedish Companies Registration Office, the Company's share capital will increase by SEK 3,629,178.40 to a total of SEK 7,036,697.40. The number of shares in the Company will increase by 18,145,892 to a total of 35,183,487. In the event that all attached warrants are fully exercised for subscription of new shares in ChromoGenics, the number of shares will increase by a further 4,536,473 to a total of 39,719,960 shares and the share capital to increase by 907,294.60 to a total of SEK 7,943,992.00. The dilution effect, in the event that the Rights Issue and related warrants are fully subscribed, amounts to approximately 57.1 percent.
Trading in a paid subscription unit (BTU) takes place on the Nasdaq First North Growth Market until the week after the Rights Issue is registered with the Swedish Companies Registration Office. Registration of the Rights Issue is expected to take place around week 12, 2022.
Contact:
Fredrik Fränding, CEO
Tel: +46(0)72 249 24 62
Lars Ericsson, CFO & Head of Communications
Tel: +46 (0)18 430 0430
Email: info@chromogenics.com
ChromoGenics
This information constitutes such information that ChromoGenics AB is obligated to disclose in accordance with the EU Market Abuse Regulation. The information was submitted by the above-mentioned contact persons for publication on March 8, 2022, at 18:15 p.m. CET.
About ChromoGenics
ChromoGenics is a proptech company that produces dynamic glass for real estate. The company’s product ConverLight® Dynamic, controls indoor comfort with high daylight transmission, great view and solar heat blocking and thereby reduces cost of cooling. ConverLight® Dynamic is based on a patented solution where electrochromic coatings are laminated in plastic film and then laminated between glass. The plastic film is easy to transport, so long shipments of bulky glass can be avoided. ChromoGenics also offers static glass, ConverLight® Static, and the ConverLight® Energy facade glass solution. ChromoGenics’ stock was listed on Nasdaq First North Growth Market in 2017 and has supplied glass technology to several major real estate companies.
ChromoGenics originates from world-leading research at Ångströmlaboratoriet at Uppsala University. The company’s production facility in Uppsala has been partially financed with conditional loans from Energimyndigheten (Energy Authority) in Sweden. ChromoGenics’ share (CHRO) is listed on Nasdaq First North Growth Market with Erik Penser Bank as Certified Adviser: certifiedadviser@penser.se, Phone +46 8 463 83 00.