Gradientech announces outcome of issue of convertible instruments

Gradientech AB (publ) (“Gradientech” or “the Company”) announces that the Company's issue of convertible instruments with deviation from the pre-emption rights for existing shareholders has been completed. The final count in the issue shows that 815,823 convertible instruments were subscribed for. Through the issue, Gradientech will receive approximately SEK 16.7 million before deductions for transaction costs.

Outcome
The Board of Gradientech AB (publ) decided on 20 June 2023 through two separate decisions to issue maximum 1,220,000 convertible instruments with deviation from the pre-emption rights for existing shareholders. One of the decisions comprised of maximum 727,695 convertible instruments and took place with the support from the Annual General Meeting conducted 9 May 2023 and the other decision of maximum 492,305 convertible instruments was taken subject to the subsequent approval of a General meeting. A total of 815,823 convertible instruments, corresponding to approximately 67 percent of the issue, have been subscribed for.

Terms and conditions

The convertible loan carries six percent yearly interest and is due for payment on 30 June, 2024 or at an earlier time when conversion takes place.

Number of shares and share capital

The issue provides Gradientech with proceeds amounting to approximately SEK 16.7 million before transaction costs. As a result of the issue, the Company's share capital can increase by maximum SEK 177,278.30 to a total of SEK 1,956,803.30 and the total number of shares can increase by maximum 1,772,783 shares to 19,568,033 shares.

Advisor

Lindahl KB acts as the legal advisor to Gradientech in connection with the issue.

For further information, please contact:

Urban Adolfsson, CFO Gradientech

Tel: +46 70 820 72 09

urban.adolfsson@gradientech.se  

About Gradientech

Gradientech is leading the field of ultra-rapid antibiotic susceptibility testing. We develop next-generation diagnostics in infectious disease medicine. Our product QuickMIC allows patients with sepsis to quickly receive specific guidance on the right antibiotic in the right dose. It saves lives, reduces healthcare costs and limits the spread of antibiotic resistance – one of the greatest global health threats of our time. Gradientech is headquartered in Uppsala, Sweden. Visit www.gradientech.se for more information.