Swedish Stirling publishes prospectus supplement
Swedish Stirling AB (publ) ("Swedish Stirling" or the "Company") publishes prospectus supplement for the rights issue.
Today, on 2 January 2023, Swedish Stirling has published a supplement to the rights issue prospectus, which was published on 5 December 2022. The prospectus supplement has been prepared by reason of Swedish Stirling’s announcement on 22 December 2022 that a product sales agreement is unlikely to be reached with Glencore, and that the subscription period in the rights issue was extended until 31 January 2023, and announcement on 30 December 2022 that the Company resolved on extended cost-saving measures and to seek opportunities for strategic partnerships.
Swedish Stirling’s Board of Directors has, in line with what was communicated on 22 December 2022, resolved to waive the subscription and underwriting commitments received by a number of existing shareholders and external investors, meaning that these parties are not bound by their obligations to subscribe for shares in the rights issue. Furthermore, Swedish Stirling has agreed with all external investors who have entered into underwriting commitments that they shall not be entitled to an underwriting fee or have any other claims on the Company in relation to the rights issue.
The supplement, which today has been approved and registered by the Swedish Financial Supervisory Authority, forms part of, and must be read together with, the prospectus. The prospectus and the supplement to the prospectus are available on the Company’s website, www.swedishstirling.com, ABG Sundal Collier AB’s website (www.abgsc.com) and Avanza’s website for prospectuses (www.avanza.se/borsintroduktioner-emissioner.html).
Shareholders and other investors who have already subscribed or applied for subscription for ordinary shares in Swedish Stirling before the supplement to the prospectus was published are entitled to withdraw their subscriptions or applications. The withdrawal period runs from and including 3 January 2023, up to and including 31 January 2023. Any subscription or application that is not withdrawn within the prescribed time will remain binding and those who wish to remain as subscribers do not need to take any further action. Further instructions on how to withdraw an application are to be found in the supplement.
Trading in subscription rights till be resumed on Nasdaq First North Premier Growth Market. Last day for trading in subscription rights will be 26 January 2023. Outcome of the rights issue will be announced once the extended subscription period has ended, estimated on or around 2 February 2023.
For further information please contact:
Sven Ljungberg, CCO, Swedish Stirling AB, +46 (0)31 385 88 30 ir@swedishstirling.com.
About Swedish Stirling AB
Swedish Stirling is a Swedish clean-tech company founded in 2008 with a mission to further refine the incomparable ability of Stirling technology to convert thermal energy into electricity. The company’s latest product, the PWR BLOK unit, is a unique proprietary solution for recovering energy from industrial residual gases and heat, and for converting this into 100 percent carbon-neutral electricity with high efficiency. The company’s vison is to establish Stirling technology as the best option for local, sustainable electricity generation. Swedish Stirling AB is listed on Nasdaq First North Premier and FNCA Sweden AB is appointed Certified Adviser, +46(0)8-528 00 399, info@fnca.se. Read more at www.swedishstirling.com.
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Important information
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This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or the United States (including its territories and possessions, any state of the United States and the District of Columbia), or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.
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In the United Kingdom, this press release and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this press release relates is available only to, and will be engaged in only with, "qualified investors" who are (i) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this press release and should not act or rely on it.
This press release does not identify, or purport to identify, risks (direct or indirect) that may be associated with an investment in securities. Any investment decision to acquire or subscribe for securities in connection with the Rights Issue must be made only on the basis of the prospectus and the prospectus supplement that have been published in connection with the Rights Issue.
This press release does not constitute an invitation to warrant, subscribe, or otherwise acquire or transfer securities in any jurisdiction. This press release does not constitute a recommendation for any investors’ decisions regarding the Rights Issue. Each investor or potential investor should conduct its own examination, analysis and evaluation of the business and information described in this press release and all publicly available information. The price and value of the securities can decrease as well as increase. Achieved results do not provide guidance for future results. Neither the contents of the Company’s website nor any other website accessible through hyperlinks on the Company’s website are incorporated into or form part of this press release.
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