The overallotment option in the IPO of Cinis Fertilizer has been exercised in full
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ABG Sundal Collier AB (”ABG Sundal Collier”), has today, on behalf of ABG Sundal Collier, Nordea Bank Abp, filial i Sverige, and Pareto Securities AB (the “Joint Bookrunners”), notified Cinis Fertilizer AB (“Cinis Fertilizer” or the “Company”) that the stabilisation period has ended and that the overallotment option has been exercised in full as no price stabilisation activities have been carried out.
In connection with the offering of shares in Cinis Fertilizer and the listing of the Company’s shares on Nasdaq First North Growth Market on 21 October 2022 (the "Offering"), the Company granted the Joint Bookrunners an option to acquire up to an additional 2,068,965 newly issued shares in Cinis Fertilizer, corresponding to a maximum of 15 per cent of the number of shares in the Offering to cover overallotment and thereby enable stabilisation measures after the Offering (the “Overallotment Option”), exercisable in whole or in part within 30 days from the date on which Cinis Fertilizers’ shares commenced trading on Nasdaq First North Growth Market.
No price stabilisation activities have been carried out since the Offering, and the stabilisation period regarding the Offering has now ended and the Overallotment Option has thus been exercised in full.
Due to that the Overallotment Option has been exercised in full, the board of directors of Cinis Fertilizer has resolved to issue 2,068,965 shares at a price corresponding to the issue price in the Offering (SEK 29 per share). The exercise of the Overallotment Option means that the Offering has comprised a total of 15,862,068 newly issued shares, corresponding to 21.9 percent of the shares in Cinis Fertilizer after the completion of the Offering. Cinis Fertilizer will thereby be provided with additionally approximately SEK 60 million, which means that the Company has been provided with, approximately SEK 460 million in total as a result of the Offering, before transaction costs. After the shares in the Overallotment Option have been registered with the Swedish Companies Registration Office, the total number of outstanding shares in Cinis Fertilizer will amount to 72,526,468.
In order to enable delivery of overallotment shares in the Offering, ABG Sundal Collier borrowed 2,068,965 existing shares in the Company from Jakob Liedberg. Due to the exercise of the Overallotment Option, all borrowed shares will be returned to Jakob Liedberg.
For more information, please contact:
Charlotte Becker, IR and Communications Director
Mobile: +46 73 037 07 07
Email: charlotte@cinis-fertilizer.com
Jakob Liedberg, CEO
Mobile: +46 76 858 12 86
Email: jakob@cinis-fertilizer.com
This disclosure contains information that Cinis Fertilizer is obliged to make public pursuant to the EU Market Abuse Regulation (EU No 596/2014). The information was submitted for publication, through the agency of the contact persons set out above, at 17.50 CET on 18 November 2022.
About Cinis Fertilizer
Cinis Fertilizer is a Swedish green tech company aiming to produce the world’s most environmentally friendly mineral fertilizer, potassium sulphate (SOP), by recycling industrial waste products from the pulp & paper industry as well as the car battery manufacturing industry. The patent protected technology will use half as much energy as today’s production methods and the result is a fossil-free fertilizer with a close to zero carbon footprint, a unique and circular contribution enabling sustainable agriculture. FNCA Sweden AB is Certified Adviser.
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