BoMill Board of Directors proposes a new share issue of SEK 23,3 million for the launch of new grain sorting equipment

The Board of Directors of BoMill AB (publ) (”BoMill” or the ”Company”) proposes a rights issue pending a decision at an extraordinary general meeting on April 8th, 2022. The new share issue provides the Company with approximately SEK 23,3 million before transaction costs. The conditions in the rights issue give one old share the right to subscribe for two new shares of a price of SEK 0,75 per share. Subscription agreements amounting to SEK 13,6 million have been signed, corresponding to 58,6 percent of the new share issue. Guarantors have signed up for SEK 9,6 million, 41,4 percent of the new share issue. The proposed new share issue is 100 percent secured.

The expected net proceeds from the rights issue will be used to finalize the development of BoMill’s new generation of grain sorting equipment and support its commercialization. The launch will begin with a field-testing phase that will start by the end of the second quarter of 2022, in collaboration with a grain company. The results of the field test will then pave way for the continued launch of the equipment.

“With the proposed share issue, we can move forward and launch our new high-capacity modular grain sorting equipment. The capitalization will strengthen the company’s financial position in the short run with further support and accelerate our Go-To-Market activities. I am very pleased with the support and confidence investors show by committing to our rights issue and that they have acknowledged our sustainable and unique offer for grain sorting”, says Andreas Jeppsson CEO, BoMill AB.

Summary of the rights issue

• One (1) old share in BoMill at the date of record April 26^{th ,}2022 entitles to two (2) subscription rights, having the right to subscribe for two (2) shares. Each subscription right gives the possibility to subscribe for (1) one share.
• Subscription shall be made in cash at a price of SEK 0,75 per new share.
• BoMill will receive SEK 23,3 million in the proposed rights issue before transaction costs, which preliminary will be SEK 1,7 million.
• The subscription period will be April 28^th to May 12^th, 2022.
• Subscription rights not used during the time for subscription will be invalid and lose their value. Trade with subscription rights will be available during April 28^th to May 12^th, 2022.
• The rights issue may increase BoMill’s share capital with SEK 15,509,690 to SEK 23,264,535. The number of shares will increase with 31,019,380 shares to 46,529,070 shares. The maximum dilution is 66,67 %.
• Subscription can also be made for a party which isn’t a present shareholder. Subscription of shares without preferential rights shall be made in accordance with the following:
  •  Firstly, to those who have subscribed shares with subscription rights, regardless if they were shareholders on the record day and in the event of oversubscription, in relation to the number of used subscription rights, and if this cannot be realized, by draw;
  • Secondly, to those who have subscribed shares without subscription rights and not included in item (a) above, regardless if they were shareholders on the record day, in relation to the number of subscribed shares in this category, and if this cannot be realized, by draw;
  • Thirdly to those who have given a guarantee commitment for subscription and payment of the shares that haven’t been assigned to other subscribers, pro rata in relation to the guaranteed amount.

Subscription agreements and guarantors

BoMill have made agreements for subscription and guarantors in the proposed rights issue.

Current shareholders have made commitments for subscription amounting to SEK 8,9 million, corresponding to 38,4 percent in the proposed rights issue. Investors will acquire subscription rights and have undertaken to exercise these subscription rights to subscribe shares in the rights issue for an amount of SEK 4,7 million, corresponding to 20,2 percent of the total amount rights issue. Guarantors have made commitments of SEK 9,6 million, corresponding to 41,4 percent of the proposed rights issue.

The proposed rights issue is 100 percent secured by subscription and guarantee agreements representing approximately SEK 23,3 million.

Preliminary time schedule for the proposed rights issue

• April 22^nd, 2022: Last day of trading in BoMill share including subscription rights.
• April 25^th, 2022: First day of trading in BoMill share excluding subscription rights.
• April 26^th, 2022: Record date for participating in the rights issue.
• April 28^th-May 12^th, 2022: Trade with subscription rights.
• April 28^th-May 12^th, 2022: Subscription period.
• April 28^th, 2022 – week 22/23, 2022: Trade with shares as BTA, to be continued until registration of the share issue at Bolagsverket has been completed during weeks 22/23, 2022.
• May 17^th, 2022: Publication of the result of the rights issue.

Change of reporting date for Q1-January-March 2022

The Board of Directors has decided to prepone the publication of the quarterly report for January – March 2022 to April 20^th, 2022, instead of May 12^th, 2022, to provide information to the shareholders on their decision to subscribe shares in the rights issue.

Legal advisor and issuing institution

Zellbergs Advokatbyrå AB will act as legal advisor and Nordic Issuing will be issuing institution in the proposed rights issue.

This press release contains inside information that BoMill AB (publ) is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication on March 8th, 2022, at 09.30am CEST.