Subscription period in Polymer Factory’s issue of units begins today
Today, February 25, 2021, is the first day of the subscription period in Polymer Factory Sweden AB’s (“Polymer Factory” or the “Company”) issue of units. The subscription period lasts until March 11, 2021. A fully subscribed issue of units will initially provide the Company with approx. SEK 13 million (before issue costs of approx. SEK 1.28 million), of which approx. SEK 0.37 million is attributable to compensation (in the form of units) for bridge loan received in February 2021, and will not be provided to the Company. In addition, approx. SEK 1.8 million pertains to the bridge loan, just like the compensation, to be set off in the issue. Upon full exercise of warrants of series TO 1, the Company can be provided with additionally approx. SEK 5.2 million before issue costs. Prior to the issue of units, Polymer Factory has received subscription commitments from, among others, members of the Board of Directors, executive management and major shareholders. In total, the subscription commitments correspond to approx. 50 percent of the initial issue volume. Memorandum, teaser and subscription forms have been made available on Polymer Factory’s (www.polymerfactory.com) and Sedermera Fondkommission’s (www.sedermera.se) respective websites. The documents are also available on Spotlight Stock Market’s website (www.spotlightstockmarket.com). Subscription of units can be made by submitting a subscription form to Sedermera Fondkommission or through their website (via BankID). For subscription of units directly through other banks, the subscriber is asked to contact their bank.
About Polymer Factory
Polymer Factory was founded in 2006 at KTH Royal Institute of Technology and its Board of Directors and CEO have been essential in driving dendritic nanotechnology research to commercialization for almost 15 years – expertise that has been transferred to the Company’s products. Emerging from many years of cutting-edge research within the field, Polymer Factory today has, in the Company’s assessment, the world’s largest product portfolio of dendritic materials with customers ranging from BigPharma, MedTech and BioTech companies, to research-intensive institutes and academic research groups. Polymer Factory has also used the Company’s vast knowledge and expertise to develop a patented calibration technology, named SpheriCal®, designed for Mass Spectrometry instruments.
Polymer Factory’s dendritic nanotechnologies have the potential of accelerating innovation in material and life science sectors, particularly through the availability of precision dendritic products that can enhance and amplify a desired property that is underperforming by the Company’s customers, for example in diagnostics, by carrying colorants and enhancing detection of diseases, or in tissue engineering by contributing to improved tissue growth. There is also growing demand for accurate calibration to enable faster and more precise analysis of chemical and biological substances in water, food, commercial/industrial products, and biological samples from patients, while at the same time ensuring that sharper and more demanding regulations are met.
Since the founding of the Company, its management has primarily been engaged in research activities and has dedicated limited time to Polymer Factory’s operations. Revenues have consequently been based on incoming requests and purchase orders – the Company has done little in the area of proactive sales. Despite this, there has been significant interest from a large number of multinationals, and stable revenue streams. With proceeds from this capitalization, there is an opportunity to significantly expand the business and sales organization and accelerate the Company’s growth. Therefore, Polymer Factory is now conducting an issue of units (shares and free of charge warrants) amounting to approx. SEK 18.2 million (before issue costs), prior to listing at Spotlight Stock Market. Funds from the new issue will enable the Company to make key recruitments in sales, business and product development, while significantly growing its presence in important markets. Investments will also be made in an additional research facility to expand in-house product development. In addition, part of the funds will be used to strengthen the Company’s patent portfolio, as well as gaining necessary accreditations.
Present CEO Michael Malkoch and incoming CEO Elin Mignérus comments:
“Polymer Factory has emerged out of many years of cutting-edge research in the field of dendritic materials and has evolved into a leader in advanced dendritic nanotechnologies. This capitalization will enable us to invest in our business and sales organization, and more actively pursue tailored and royalty-based agreements with large multinationals. We are confident that the business has potential to grow tremendously and attract more customers from a range of technologically demanding sectors, like MedTech and BioTech. We are very excited about welcoming new investors as we now work towards realizing Polymer Factory’s huge underlying values.”
Summary of the offer:
Subscription period: February 25 – March 11, 2021.
Subscription price: Each unit consists of 3 shares and 1 attached free warrant. Price per unit is SEK 22.80, corresponding to a price per share of SEK 7.60.
Subscription post: The minimum subscription post is 240 units (corresponding to SEK 5,472).
Issue volume: Initially approx. SEK 13 million (before issue costs of approx. SEK 1.28 million), of which approx. SEK 0.37 million is attributable to compensation (in the form of units) for previously received bridge loans and will thus not be provided to the Company.
In addition, approx. SEK 1.8 million pertains to the bridge loan which, just like the compensation, is to be set off in the issue.
Upon full exercise of warrants of series TO 1, the Company can be provided with additionally approx. SEK 5.2 million before issue costs, which correspond to approx. SEK 0.5 million.
Number of shares before the issue of units: 5,155,000 shares.
Valuation (pre-money): Approx. SEK 39.2 million.
Subscription commitments: The Company has received subscription commitments corresponding to approx. SEK 6.5 million (including bridge financing and compensation for bridge financing).
Attached free of charge warrants: The exercise period of the warrants of series TO 1 (ISIN code: SE0015557293) is planned to take place in February/March 2022.
Each warrant entitles the holder to subscribe for one new share in the Company at a price of SEK 9.10 per share.
Upon full exercise of all attached warrants, the Company will receive approx. SEK 5.2 million before issue costs.
ISIN-code for the share: SE0015244470
Expected first day of trading on Spotlight Stock Market: April 7, 2021.
Advisors
Polymer Factory has in connection with the issue of units appointed Sedermera Fondkommission as financial advisor, Markets & Corporate Law Nordic AB as the legal advisor, and Nordic Issuing as issuing agent.
For additional information on the issue of units, please contact:
Sedermera Fondkommission
Phone: +46 (0) 40 615 14 10
E-mail: info@sedermera.se
For more information about Polymer Factory, please contact:
Michael Malkoch, CEO
Phone: +46 (0) 70 221 18 75
E-mail: michael.malkoch@polymerfactory.com
Polymer Factory is a leading global provider and producer of dendritic materials, with customers ranging from BigPharma, MedTech and BioTech companies, to research-intensive institutes and academic research groups. The Company’s dendritic materials act as smart delivery systems that enhance the effects of the substances they carry, e.g. a vaccine or an anticancer drug. They have also shown great promise in diagnostics, tissue engineering and in the development of vaccines. In addition, Polymer Factory has used the Company’s vast knowledge and expertise to develop a patented calibration technology, named SpheriCal®, designed for Mass Spectrometry instruments. The Company’s dendritic nanotechnologies have the potential to accelerate innovation in technologically demanding sectors, such as MedTech and BioTech. Learn more at www.polymerfactory.com.