Tobii announces outcome of its oversubscribed rights issue

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The final outcome in Tobii AB (publ)’s (“Tobii” or the “Company”) rights issue of ordinary shares (the “Rights Issue"), where the subscription period ended on April 2, 2024, shows that  subscriptions by exercise of subscription rights and subscription applications for subscription without subscription rights together correspond to approximately 139 percent of the offered shares in the Rights Issue. Thus, the Rights Issue is fully subscribed and no guarantee commitments have been utilized. As a result of the Rights Issue, Tobii will receive total issue proceeds of approximately SEK 301 million before deduction of transaction costs.

The Rights Issue comprised 127,418,718 ordinary shares, of which 122,184,786 ordinary shares, corresponding to approximately 96 percent of the offered shares, have been subscribed for by exercise of subscription rights. Additionally, applications for subscription of 55,101,596 ordinary shares without subscription rights have been submitted, corresponding to approximately 43 percent of the offered shares. A total of 5,233,932 ordinary shares, corresponding to 4 percent, have been allotted to individuals who have applied to subscribe for shares without support of subscription rights. Together, subscriptions for shares with support of subscription rights and subscription for shares without support of subscription rights correspond to approximately 139 percent of the offered shares in the Rights Issue. Thus, the Rights Issue is fully subscribed and no guarantee commitments have been utilized.

Tobii will receive proceeds through the Rights issue of approximately SEK 301 million before deduction of transaction costs. As a result of the Rights Issue, Tobii’s share capital will increase by approximately SEK 924,670 to approximately SEK 1,711,028 and the number of ordinary shares and votes will increase by 127,418,718 to 233,600,984[1].

Those who have subscribed for shares without the support of subscription rights will be allotted shares in accordance with the principles set out in the prospectus published on March 14, 2024. Notice of allotment to the persons who have subscribed for shares without support of subscription rights is expected to be distributed on April 4, 2024. Allotted shares must be paid for in cash by April 8, 2024 in accordance with the instructions on the settlement note sent to the subscriber. Investors who have subscribed through a nominee will be notified of the allotment in accordance with their respective nominee's procedures. Only those who have been allotted shares will be notified.

The last day of trading in paid subscribed shares (BTAs) will be April 9, 2024. As soon as the increase in share capital has been registered with the Swedish Companies Registration Office, paid subscribed shares (BTAs) will be converted into new shares. The new shares are expected to be admitted to trading on Nasdaq Stockholm around April 15, 2024.

The resolution on the Rights Issue resolved on March 6, 2024, was based on Tobii holding a certain number of own ordinary shares. However, as of the record date, Tobii did not own any own ordinary shares and as a result the number of subscription rights distributed was increased accordingly. Therefore, the board of directors’ resolution on the Rights Issue has been adjusted by (i) increasing the number of ordinary shares to be issued from not more than 127,046,040 to not more than 127,418,718 ordinary shares and (ii) increasing the share capital from not more than approximately SEK 921,967 to not more than approximately SEK 924,670. The increase of the Rights Issue is approximately 0.3 percent and results in total issue proceeds of approximately SEK 301 million before deduction of transaction costs.

Advisors

Carnegie Investment Bank AB (publ) is acting as financial advisor and Sole Bookrunner to Tobii in relation to the Rights Issue. Advokatfirman Vinge KB is acting as legal advisor to Tobii in relation to the Rights Issue.

For more information, please contact:

Carolina Strömlid, Head of Investor Relations, Tobii AB, phone: +46 (0)70 880 71 73, email: carolina.stromlid@tobii.com

This information is information that Tobii AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on April 3, 2024, at 20.45 CEST.

About Tobii

Tobii is the global leader in eye tracking and pioneer of attention computing. We are on a mission to improve the world with technology that understands human attention and intent. Creating tech for a better future, our technologies and solutions apply to areas such as behavioral studies and research, healthcare, education and training, gaming, extended reality, automotive, and many more. Tobii's eye tracking is used by thousands of enterprises, universities, and research institutes around the globe. Headquartered in Sweden, Tobii is listed on Nasdaq Stockholm (TOBII). For more information: www.tobii.com

IMPORTANT INFORMATION

Publication, release, or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where the press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Tobii AB (publ) (the “Company”) in any jurisdiction, either from the Company or from anyone else.

This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 (the “Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction. A prospectus has been prepared by the Company, reviewed and approved by the Swedish Financial Supervisory Authority and published on the Company's website. This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 (“Securities Act”), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.

Forward-looking statements

This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as “believes”, “expects”, “anticipates”, “intends”, “estimates”, “will”, “may”, “implies”, “should”, “could” and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Nasdaq Stockholm Rulebook.

Potential investors should not put undue trust in the forward-looking statements herein, and potential investors are strongly recommended to read the sections in the prospectus that include a more detailed description of the factors that can affect the Company’s business and its associated market.