Heliospectra carries out issues of shares by way of set-off, a total of approximately SEK 25.9 million

GOTHENBURG, Sweden, Sep 12, 2022, at 08:45 CEST

The board of directors of Heliospectra AB (publ) (the “Company” or “Heliospectra”) has today, pursuant to the authorization granted by the annual general meeting on 19 May 2022, resolved on directed issues of new shares, a total of approximately SEK 25.9 million (the “Directed Issues”), to four of the Company’s principal shareholders, i.e., Weland Stål AB, WELAND VÄRDEPAPPER AB, Agartha AB, and Corespring New Technology AB (the “Principal Owner(s)”). The subscription price is SEK 1.253 per share. The issue fund has been paid by set-off of the remaining loans, in a total of approximately SEK 25.9 million in claims that the Principal Owners had against the Company.

Background and reason for the Directed Issues

The Principal Owners have, in accordance with the issued credit facility, as of today provided four short-term loans to the Company with a total debt amount, including interest, amounting to a total of SEK 25,929,686.26 (the “Loans”)

The terms of the Loans states that the Principal Owners shall have an opportunity, but no obligation, to set-off their claims in a new issue of shares. Such an appeal has now taken place and the board of directors has therefore today resolved to carry out the Directed Issues.

The total issue found in the Directed Issues amount to SEK 25,929,686.746.

Terms for the Directed Issues

The board of directors of Heliospectra has today, pursuant to the authorization granted by the annual general meeting on 19 May 2022, resolved on the Directed Issues. Through the Directed Issues the number of shares in the Company will increase by 20,694,082 and the share capital will increase by SEK 2,069,408.20. The issue fund has been made by set-off of the remaining parts of the Loans, see below for exact statement of the issue fund for each Principal Owner.

The subscription price for the shares is SEK 1.253 per share, which correspondence to a premium of approximately 25.3 percent compared to the shares closing price on 9 September. The subscription price has been determined after negotiations at arms’ length between the Company and the Principal Owners, respectively. Overall, the Company's board of directors is of the opinion that the subscription price is market-based, based on the current circumstances.

The reasons for the deviation from the shareholders’ preferential rights is an opportunity to raise capital on favourable terms in order to strengthen the Company’s liquidity and working capital in a time- and cost-effective manner, which has been of material importance for the Company’s management given the severe financial situation of the Company. According to the board of directors, this indicates all in all and with sufficient strength that it is in the shareholders’ interest to carry out a issue of new shares with derivation from the shareholders’ preferential rights.

The issue funds in the Directed Issues are distributed as follows:

Following the Directed Issues are the Loans fully settled. The Directed Issues means a dilution effect corresponding to approximately 19.42 percent in relation to the current number of shares in the Company.

For More Information:

Rebecca Nordin, Head of IR at Heliospectra | +46 (0)72 536 8116 | ir@heliospectra.com

Andreas Gunnarsson, Styrelseordförande / Chairman | +46 (0) 010 470 70 60 | andreas.gunnarsson@midroc.se

http://www.heliospectra.com

This information is such that Heliospectra is required to publish in accordance with the EU’s Market Abuse Regulation (MAR). The information was submitted, through the care of the above contact persons, for publication on 12 September 2022 at 08:45 CEST.

Heliospectra AB (publ) (Nasdaq First North Growth Market: HELIO) was founded in 2006 in Sweden by plant scientists and biologists with one vision – to make crop production more intelligent and resource-efficient. Today, with customers across six continents, Heliospectra is the global leader in innovative horticulture lighting technology, custom light control systems and specialized services for greenhouse and controlled plant growth environments. Designed by growers for growers, Heliospectra builds customized LED lighting strategies and controls to automate production schedules, forecast yields and monitor crop health and performance with real-time data and response, to deliver the light plants love and the consistent results growers need. 

For more information, please visit https://www.heliospectra.com.  

Company HELIO is listed at Nasdaq First North Growth Market with Redeye AB as Certified Adviser.