Clean Industry Solutions Holding Europe announces outcome of the rights issue

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Clean Industry Solutions Holding Europe AB (publ) (“Clean Industry Solutions” or the “Company”) today announces the outcome of the rights issue of shares which was announced by press release on 31 August 2023 (the "Rights Issue"). The Rights Issue has been subscribed for a total of approximately 23.6 percent. In addition, approximately 31.5 percent of the offered shares have been allocated to underwriters. Through the Rights Issue, Clean Industry Solutions receives approximately SEK 14.0 million before deduction of issue costs. The proceeds from the Rights Issue will primarily be used to finance the growth of the subsidiaries and working capital for new customer projects. The Company also expects that the strengthened financial position, combined with an increased market demand, will have a positive impact on discussions and negotiations with current and potential customers.

“The capital injection is an important step towards realizing Clean Industry Solutions' full potential. We are well-positioned to capitalize on the growing demand we see in the market, especially considering our advanced technology and our well-established customers. The capital injection allows us to intensify our work in three key areas: maximizing existing business opportunities, signing new agreements, and strengthening our team of specialists. As previously communicated, we have a strong pipeline and hope to announce positive news in the near future. We remain deeply committed to delivering value to our investors and have full confidence in our strategic direction. Thank you for your continued trust and support.” says Clean Industry Solutions CEO Christian Zahler.

Outcome of the Rights Issue
The subscription period in the Rights Issue ended on 26 September 2023. In total, 15,047,952 shares were subscribed for with and without support of subscription rights, corresponding to approximately 23.6 percent of the Rights Issue. 14,530,840 shares were subscribed for with subscription rights, corresponding to approximately 22.8 percent, whereas 517,112 shares were subscribed for without subscription rights, corresponding to approximately 0.8 percent of the Rights Issue. 20,052,048 shares have been allocated to underwriters, corresponding to approximately 31.5 percent of the Rights Issue.

Through the Rights Issue, the Company receives approximately SEK 14.0 million before deduction of issue costs, which are estimated to amount to approximately SEK 3.5 million, of which the underwriting compensation amounts to approximately SEK 1.8 million.

Notice of allotment and delivery
Allotment of shares subscribed for without subscription rights, has been carried out in accordance with the principles set out in the prospectus that was published on 8 September 2023. Notification of the allotment of shares subscribed for without subscription rights, will be sent via a separate settlement note. Nominee shareholders receive notification of allotment in accordance with the respective nominee's routines.  

Number of shares and share capital
Through the Rights Issue, the number of shares in Clean Industry Solutions increases by 35,100,000 shares, from 25,497,762 shares to 60,597,762 shares, and the share capital increases by SEK 3,454,007.436923, from SEK 2,509,101.412333 to SEK 5,963,108.849256.

Paid Subscribed Shares (“BTA”)
Trading in BTA takes place on Nasdaq First North Growth Market until the conversion of BTA into shares, which takes place after the Rights Issue have been registered at the Swedish Companies Registration Office. Registration at the Swedish Companies Registration Office is expected to take place during week 41, 2023.

Recalculation of warrants of series TO 1
As a result of the Rights Issue, Clean Industry Solutions will, in accordance with the terms and conditions of warrants of series TO 1, carry out a recalculation of the subscription price when subscribing for shares through the exercise of warrants of series TO 1 and of the number of shares that each warrant of series TO 1 entitles to subscription of. The final recalculation will be announced by the Company via press release before the exercise period for warrants of series TO 1 commences on 26 October 2023. Complete terms and conditions for warrants of series TO 1 are available on Clean Industry Solutions' website: https://cleanindustrysolutions.com.

This disclosure contains information that Clean Industry Solutions Holding Europe is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 28-09-2023 18:30 CET.

Advisers
Corpura Fondkommission AB (www.corpura.se) is acting as financial advisor and Advokatfirman Schjødt is acting as legal advisor to Clean Industry Solutions in connection with the Rights Issue. Nordic Issuing AB is acting as issuing agent.

Amudova AB is Clean Industry Solutions’ certified adviser. Phone +46 8 546 017 58
E-mail: info@amudova.se

For more information:
Christian Zahler, CEO
Tel: +49 151 53811944
E-mail: christian.zahler@cleanindustrysolutions.com

Clean Industry Solutions Holding Europe AB (publ) (Nasdaq First North Growth Market: CISH) invests in innovative companies that provide solutions for sustainable industries and a circular economy. The two current subsidiaries, Industrial Solar GmbH and SolarSpring GmbH, provide solutions to deliver clean energy and water to industry. Clean Industry Solutions owns all shares in Industrial Solar and SolarSpring respectively.

Important information
Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Clean Industry Solutions in any jurisdiction, either from Clean Industry Solutions or from anyone else.

This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus regarding the Rights Issue described in this press release have been reviewed and registered by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) and is available, inter alia, on the Company's website.

This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.

Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Nasdaq First North Growth Market Rulebook.