AAC Clyde Space announces outcome of the rights issue
AAC CLYDE SPACE ANNOUNCES OUTCOME OF THE RIGHTS ISSUE
2023-07-19 AAC Clyde Space AB (publ)
The subscription period of the rights issue in AAC Clyde Space AB ("AAC Clyde Space" or the "Company") (Nasdaq First North Premier Growth Market: AAC) ended on 17 July 2023. The subscription ratio in the rights issue amounted to approximately 45 percent. Guarantee undertakings corresponding to approximately 19 percent of the shares in the rights issue will thus be utilised. Through the rights issue, AAC Clyde Space will receive approximately SEK 47.6 million before deduction of transaction costs.
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, HONG KONG, JAPAN, SINGAPORE, NEW ZEELAND, SOUTH AFRICA OR AUSTRALIA OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
- The subscription ratio in the rights issue amounted to approximately 45 percent.
- Approximately 43 percent of the rights issue was subscribed for by exercise of subscription rights and approximately 2 percent of the rights issue was subscribed for without subscription rights.
- Guarantee undertakings corresponding to 23,574,924 shares, approximately 19 percent of the shares in the rights issue, have been utilized.
AAC Clyde Space's CEO Luis Gomes comments:
"These new funds will enable AAC Clyde Space to increase our operations in Space-Data-as-a-Service. The xSPANCION project which includes the manufacturing of 10 satellites, will form the basis for AAC Clyde Space's ability to rapidly and at low cost provide customers global Earth observation data for agriculture, forestry and the study climate change, ultimately to improve life on Earth."
Through the rights issue, the Company will receive approximately SEK 47.6 million before deduction of costs related to the transaction, which amount to approximately SEK 11.7 million. The rights issue consists of 79,405,296 new shares. The subscription price was SEK 0.60 per new share and the subscription period ended on 17 July 2023. The rights issue was guaranteed to 65 percent, corresponding to approximately SEK 47.6 million through guarantee undertakings and subscription commitments. Approximately 43 percent of the rights issue was subscribed for by exercise of subscription rights and approximately 2 percent of the rights issue was subscribed for without subscription rights. Guarantee undertakings corresponding to 23,574,924 shares, approximately 19 percent of the shares in the rights issue, have been utilized.
Through the rights issue, the number of shares in AAC Clyde Space will be increased by 79,405,296 shares, from 204,811,010 shares to 284,216,306 shares. The new shares subscribed for in the rights issue are estimated to be registered with the Swedish Companies Registration Office around week 30. Allotment of shares subscribed for without subscription rights will be made in accordance with the principles outlined in the prospectus (the "Prospectus"). Around 20 July 2023, a settlement note will be sent to those who have received allotment of shares as confirmation of the allotment of shares subscribed for without subscription rights. No confirmation will be sent to subscribers who received no allotment. Payment for subscribed and allocated shares is to be made in cash in accordance with the instructions on the settlement note sent to the subscriber.
The last day of trading in paid subscribed shares ("BTAs") will take place when the Swedish Companies Registration Office has registered the rights Issue and BTAs have been converted to shares, without special notification from Euroclear, which is expected to occur around week 31.
Advisors
In connection with the rights issue, AAC Clyde Space has appointed Vator Securities AB as financial advisor and Setterwalls Advokatbyrå AB as legal advisor.
FOR MORE INFORMATION:
Please visit: www.aac-clyde.space or contact:
CEO Luis Gomes [email protected]
CFO Mats Thideman, [email protected], mobile +46 70 556 09 73
The information in this press release is such that AAC Clyde Space AB (publ) shall announce publicly according to the EU Regulation No 596/2014 on market abuse (MAR). The information was submitted for publication, through the agency of the contact person set out above, at 13:30 CEST on 19 July 2023.
The following documents can be retrieved from beQuoted
AAC-Clyde-Space-Press-release-2023-07-19.pdf
ABOUT AAC CLYDE SPACE
AAC Clyde Space specialises in small satellite technologies and services that enable businesses, governments and educational organisations to access high-quality, timely data from space. Its growing capabilities bring together three divisions:
Space Data as a Service - delivering data from space directly to customers
Space missions - turnkey solutions that empower customers to streamline their space missions
Space products and components - a full range of off-the-shelf and tailor-made subsystems, components and sensors
AAC Clyde Space aims to become a world leader in commercial small satellites and services from space, applying advances in its technology to tackle global challenges and improve our life on Earth.
The Group's main operations are located in Sweden, the United Kingdom, the Netherlands, South Africa and the USA, with partner networks in Japan and South Korea.
AAC Clyde Space's shares are traded on Nasdaq First North Premier Growth Market. Erik Penser Bank AB is the Certified Adviser. The share is also traded on the US OTCQX-market under the symbol ACCMF.
Important information
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in the Company in any jurisdiction where such offer would be considered illegal. This press release does not constitute an offer to sell or an offer to buy or subscribe for shares issued by the Company in any jurisdiction where such offer or invitation would be illegal. In a member state within the European Economic Area ("EEA"), shares referred to in the press release may only be offered in accordance with applicable exemptions under the Prospectus Regulation (EU) 2017/1129 ("Prospectus Regulation").
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 the United States, Canada, Hong Kong, Japan, Singapore, New Zeeland, South Africa, Australia 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.
In the United Kingdom, this document 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 document 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 release is not a prospectus in accordance with the definition in the Prospectus Regulation and has not been approved by any regulatory authority in any jurisdiction. This announcement does not identify, or purport to identify, risks (direct or indirect) that may be associated with an investment in shares or other securities in the Company. A Prospectus has been prepared in connection with the rights issue and has on 29 June 2023 been approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) which is the national competent authority in Sweden under the Prospectus Regulation. The approval by the Swedish Financial Supervisory Authority of the Prospectus should not be understood as an endorsement of the securities that are the subject of the Prospectus. In order for investors to fully understand the potential risks and benefits associated with a decision to participate in the rights issue, any investment decision should only be made based on the information in the Prospectus. Thus, investors are encouraged to review the Prospectus in its entirety.