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CLS announces oversubscribed rights issue and increased directed issue

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Lund, Sweden - Clinical Laserthermia Systems AB's (publ) ("CLS" or "the Company") rights issue, consisting of B shares and warrants ("Units"), with subscription period 14 - 28 April 2021, is completed.

The rights issue was oversubscribed and CLS will thus receive approximately SEK 47.7 million before deductions for issue costs. 5,908,683 Units, corresponding to approximately 87 percent of the issue, were subscribed for on the basis of preferential rights (incl. Subscription commitments). In addition, 1,433,723 units were subscribed for without the support of preferential rights, corresponding to approximately 21 percent of the issue. In total, the Rights Issue was subscribed for at 108 percent.

The Board has therefore decided to issue 523,781 Units, corresponding to SEK 3.7 million, in a so-called overallotment option.

The directed issue of Units, which was decided in connection with the Rights Issue, of approximately SEK 10 million, was fully subscribed. The Board has today also decided to increase the Directed Issue by an additional 1,419,999 Units, corresponding to approximately SEK 10 million. The largest investor in the Directed Issue is Khattar Holdings, a family-owned investment company in Singapore, which participates with approximately SEK 5 million.

The issue proceeds in the Rights Issue, the Overallotment Option and the Directed Issue will mainly be used to support the commercial launch and market establishment of the new generation of TRANBERG products and to increase investment in clinical collaborations to further prove technology and method.

– I am very happy and grateful for the interest that both existing shareholders and new investors showed CLS during the new share issue. It feels exciting to be able to present Khattar Holdings as one of the company's new investors. Khattar Holdings is an established investment company with investments in privately owned and public companies, in various industries, worldwide. Among other things, Khattar Holdings has an active ownership in Advanced Medical Systems, our joint venture partner in CLS Asia Pacific. The fact that the rights issue was oversubscribed and that the directed issue will be extended, I see as proof that many of me see the potential in our new generation of TRANBERG products and in CLS continued establishment in Europe, the USA and Asia, says Hans von Celsing, Chairman of CLS.

Outcome Rights Issue
The Rights Issue comprised a maximum of 6,818,625 Units, of which 5,908,683 Units, corresponding to approximately 87 percent of the Rights Issue, were subscribed for with the support of Unit Rights. A total of 1,433,723 units have been registered for subscription without the support of Unit Rights, corresponding to approximately 21 percent of the issue. A total of 7,342,406 Units, corresponding to approximately 108 percent of the Rights Issue, have been subscribed for with and without the support of Unit Rights. Guarantee commitments made in connection with the Rights Issue will thus not be claimed.

In addition, the company's Board of Directors has decided, with the support of the authorization of the Annual General Meeting, to issue an additional 523,781 Units, corresponding to SEK 3.7 million in the Overallotment Option. Through the Rights Issue and the Overallotment Option, the Company will receive a total of approximately SEK 51.4 million before deductions for costs related to the Rights Issue.

Outcome Directed Issue
The Board of Directors decided on 26 February 2021, which was approved by the EGM on 31 March 2021, on a directed new issue of 1,420,000 Units to Modelio Equity AB, Lubrica Equity AB and Formue Nord Markedsneutral A / S. The Board has also, with the support of the authorization of the AGM, today decided to increase the Directed Issue by an additional 1,419,999 Units, corresponding to approximately SEK 10 million. The largest investor in the Directed Issue is Khattar Holdings, an investment company in Singapore, which participates with approximately SEK 5 million. The Directed Issue is carried out on the same terms as the Rights Issue.

This information is a translation, and a shortened version, of the Swedish press release published on May 3, 2021.

Dan J. Mogren, acting CEO, Clinical Laserthermia Systems AB (publ)
Ph: +46 – (0)705 – 90 11 40
 E-mail: dan.mogren@clinicallaser.com

Clinical Laserthermia Systems AB (publ) develops and sells the TRANBERG®|Thermal Therapy System, including Thermoguide Workstation and sterile disposables, for minimally invasive treatment of cancer tumors and drug-resistant epilepsy, according to regulatory approvals in the EU and the US. The products are marketed for image-guided laser ablation and for treatment with imILT®, the Company's interstitial laser thermotherapy with potential immunostimulatory effects. CLS is headquartered in Lund and has subsidiaries in Germany, the US and Singapore. CLS is listed on the Nasdaq First North Growth Market under the symbol CLS B. The Certified Advisor (CA) is FNCA Sweden AB, Tel: +46 8 528 00 399. E-mail: info@fnca.se. 

For more information about CLS, please visit the Company's website: www.clinicallaser.se