AegirBio AB: Atlas Special Opportunities, LLC calls for partial conversion of outstanding convertible bonds to a nominal amount of MSEK 10.00

On 20 December 2022 AegirBio AB (“AegirBio” or the “Company”) announced that the Company had agreed on a convertible financing agreement with Atlas Special Opportunities, LLC (“Atlas”) regarding convertible bonds amounting to MSEK 55.00 (the “Convertible Bonds”) with attached warrants. On 20 January 2023, the general meeting resolved to issue convertible bonds and warrants to Atlas. Today, Atlas has called for its right to convert convertible bonds in the Company to a conversion price of SEK 2.55 to a nominal amount of MSEK 10.00, whereby a total of 3,921,568 new shares are issued to Atlas.

Today, Atlas has called for a partial conversion of outstanding Convertible Bonds in the Company to a nominal amount of MSEK 10.00. In accordance with the terms and conditions, the conversion price has been established to SEK 2.55, corresponding to 100 percent of the lowest daily volume-weighted average price according to Nasdaq First North Growth Market (“First North”) price list for the share in the Company during the fifteen (15) trading days preceding the day of the conversion notice. After the conversion has been registered at the Swedish Companies Registration Office, the outstanding nominal value for the Convertible Bonds will correspond to MSEK 45.00.

Due to the requested conversion, the share capital in AegirBio increases by SEK 313,725.44 to a total of SEK 2,070,149.76 and the number of shares increases by 3,921,568 to a total of 25,876,872, which entails a dilution of approximately 15.15 percent of the total number of shares and votes in the Company after registration of the new shares at the Swedish Companies Registration Office.

Terms and conditions for the Convertible Bonds in summary

Prior to the conversion, the total nominal amount of the Convertible Bonds corresponds to MSEK 55.00. The Convertible Bonds accrue zero interest and are due for payment on 20 January 2025. Atlas has the right to request conversion of all or part of the nominal amount of the Convertible Bonds up to and including the maturity date, however to a value of at least MSEK 5.00 for each conversion request. In accordance with the terms and conditions, the conversion price shall correspond to 100 percent of the lowest daily volume-weighted average price according to First North’s price list for the share in the Company during the fifteen (15) trading days preceding the day of the conversion notice, however, at least the highest amount of SEK 1.00 or the share’s quota value (today SEK 0.08). In order for a trading day to be taken into account, the total daily trading volume must amount to at least SEK 200,000 and Atlas may not have traded on such a date. If full conversion has not taken place before the maturity date, the Company shall have the right to either (i) redeem outstanding Convertible Bonds with cash at a price corresponding to 100 percent of the nominal amount or (ii) request conversion of outstanding Convertible Bonds into shares. In addition, at any time during the term, the Company has the right to redeem outstanding Convertible Bonds with cash at a price corresponding to 110 percent of the nominal amount provided that Atlas, in connection with such request, does not wish to convert such Convertible Bonds into shares in accordance with the terms.

This disclosure contains information that AegirBio is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 23-03-2023 11:14 CET.