Camanio Care executes a rights issue and secures next step in pursued expansion plans

In line with the previously announced strategic growth plan, the board of directors in Camanio Care executes a rights issue of SEK 5 million, with a possible oversubscription of SEK 2 million. The proceeds will be used to invest in the commercialization and expansion of the digital portfolio of smart care services for the home.

- We have the support from investors to pursue with the strategic and financial growth plans. The investments of SEK 60 million into the company over the past years were made for developing the company with a strong focus on investing into R&D. With this additional funding, we will continue to develop the commercialization of our products. The digital transformation of social care and healthcare has just begun, and we are well positioned to capitalize on this trend, says Catharina Borgenstierna, CEO of Camanio Care.

The board of directors of Camanio Care AB has decided to launch a rights issue of SEK 5 million. Existing major shareholders intend to subscribe to 50% in the rights issue.

The subscription consists of a unit-emission of four (4) shares and 1 (one) warrant. The unit price 6,80 SEK, e.g. the share price in the offer 1,70 SEK per share. For each (1) share in Camanio Care AB owned by the day of settlement, October 25th 2018, the shareholders receive one (1) unit subscription right. Twenty-two (22) unit subscription rights are required in order to subscribe to one (1) new unit. The price is calculated as a volume weighted average price from 20 days during the past month. The warrant included in the unit is gratuitous and the maturity of the warrant is 12 months.

Following this rights issue, the number of shares will increase from 16,674,539 to 19,706,271 which implies a dilution of 15%. If all subscribed warrants are converted into shares, the dilution will be an additional 4%. The subscription period for the rights issue will be 29th October to 19th November 2018. This rights issue is executed by the board based on the entrusted mandate given at the Annual General Meeting on the 23rd of April 2018.

In addition to the underwritten SEK 5 million rights issue, the board has decided on an oversubscription tranche, still with preferential rights to the existing shareholders, of up to SEK 2 million. The purpose of the oversubscription tranche is to allow existing shareholders to sign up for their interests above their pro rata share.

The implication of the oversubscription tranche is that the number of shares in the rights issues increases with additional 1,176,470 shares to a total of 20,882,741 share excluding the warrants, with a dilution of additional app 6%.

By this design of the rights issue the Board aims to invite all existing shareholders that have shown interest in the further growth of the company. This is one of the first steps in the company’s long-term financial strategy.

Time plan for the rights issue:

Last day for trade in the share including transferable unit subscription rights:              2018-10-23

First day for trade in the share excluding transferable unit subscription rights:             2018-10-24

Record date for participation in rights issue:                                                                                                                2018-10-25

Memorandum is published on Camanio Care website:                                                                                           2018-10-26

First subscription date:                                                                                                                                                        2018-10-29

First day of trading in unit subscription rights and BTU:                                                                                           2018-10-29

Last day for trade in unit subscription rights:                                                                                                               2018-11-15

Last day of subscription:                                                                                                                                                     2018-11-19

Last day of trade with BTU will be communicated through a market announcement after registration at Bolagsverket (Swedish Companies Registration Office).

The full terms of the underwritten rights issue and the oversubscription tranche will be available in our memorandum on the 26th October: https://www.camanio.com/en/invest/

For further information, please contact:
Catharina Borgenstierna, CEO
Telephone: +46733-93 00 07
E-mail: catharina.borgenstierna@camanio.com  

About Camanio Care
Camanio Care is a care tech company that develops smart technologies for an excellent care at home with the individual in focus. Camanio Care offers digital service platforms for digital care, robotics and assistive devices, with products such as VITAL, BikeAround TM, Bestic® and Giraff TM. Through three focus areas; Activation, Mealtime and Digital care, Camanio Care wishes to support people's basic needs and increase accessibility and quality within health care. Headquartered in Stockholm, Camanio Care has a subsidiary in the US, and global reach via distributors in Asia, the Middle East, Hong Kong, Australia and in ten European countries.

Subscribe to our press releases and read more about us, Camanio Care at: https://www.camanio.com/en/.

This information is information that Camanio Care is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, on October 18th, 2018.