ChromoGenics announces the outcome of exercised warrants of series TO 4 and TO 5

PRESS RELEASE

THIS PRESS RELEASE MAY NOT BE RELEASED, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY IN OR TO THE UNITED STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, OR ANY OTHER JURISDICTION WHERE SUCH ACTION IN WHOLE OR IN PART IS SUBJECT TO LEGAL RESTRICTIONS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO ACQUIRE SECURITIES IN CHROMOGENICS AB (PUBL). SEE ALSO THE “IMPORTANT INFORMATION” SECTION BELOW.

The board of directors of ChromoGenics AB ("ChromoGenics" or the "Company") today announces the outcome of the exercise period for warrants series TO 4 and TO 5 that were issued in connection with ChromoGenics AB's rights issue of units that was announced on 8 February 2022 ("Rights Issue TO 4" ) and 6 October 2022, respectively ("Rights Issue TO 5"). Warrants of series TO 5 were subscribed at approximately 44.7 percent and warrants of series TO 4 were subscribed at approximately 0.3 percent. In total, ChromoGenics will receive approximately SEK 5.8 million before issue costs.

Within the framework of the Rights issue TO 5, ChromoGenics issued 63,480,036 warrants of series TO 5. Furthermore, ChromoGenics issued an additional 1,043,094 warrants of series TO 5 to guarantors in the Rights Issue TO 5 who chose to receive guarantee compensation in units. The exercise period of the warrants lasted until 27 March 2023. One (1) warrant entailed the right to subscribe for one (1) new share in the Company at an exercise price corresponding to seventy (70) percent of the volume-weighted average price of the Company's share during the period from on 16 February 2023 through 7 March 2023, but at least SEK 0.2 and at most SEK 1.0. The volume-weighted average price for the Company's share during the period amounted to SEK 0.25, which is why the subscription price was set at SEK 0.20 per share. The exercise period for the warrants ran from and included 13 March 2023 through 27 March 2023. The final outcome shows that the utilization rate amounted to approximately 44.7 percent, meaning that 28,849,554 warrants of series TO 5 were used for the subscription of 28,849,554 shares. Exercised warrants have been replaced with interim shares, pending registration with the Swedish Companies Registration Office. The interim shares are expected to be converted into shares within approximately two (2) weeks, i.e. around 6-11 April 2023.

Within the framework of the Rights issue TO 4, ChromoGenics issued 18,145,892 warrants of series TO 4. The exercise period for the warrants lasted until 27 March 2023. One (1) warrant of series TO 4 entailed the right to subscribe for 0.44 shares in the Company at an exercise price corresponding to seventy (70) percent of the volume-weighted average price paid for the Company's share during the period from and including 21 February 2023 to and including 7 March 2023, however a minimum of SEK 1.4 and a maximum of SEK 2.6 per share. The volume-weighted average price paid for the Company's share during the period amounted to approximately SEK 0.23, which is why the subscription price was set at SEK 1.4 per share. The exercise period for the warrants ran from and included 13 March 2023 through 27 March 2023. The final outcome shows that the utilization rate amounted to approximately 0.3 percent, meaning that 48,017 warrants of series TO 4 were used for the subscription of 21,127 shares. Exercised warrants have been replaced with interim shares, pending registration with the Swedish Companies Registration Office. The interim shares are expected to be converted into shares within approximately two (2) weeks, i.e. around 6-11 April 2023.

Through the exercise of warrants, the Company will receive approximately SEK 5.8 million before issue costs. The total number of shares in ChromoGenics increases by 28,870,681, from 142,805,135 to 171,675,816. The share capital in ChromoGenics increases by 5,774,136.20 SEK, from 28,561,027.00 SEK to 34,335,163.20 SEK.

Uppsala 29 March 2023
ChromoGenics AB (publ)

For further information, please contact:
Fredrik Fränding, CEO, ChromoGenics
Tel: +46 (0)72 249 24 62
E-mail: [email protected]

This information was submitted, through the care of the above contact person, for publication on 29 March 2023 at 16:45 CEST.

Certified Advisor:

Vator Securities AB, Kungsgatan 34, SE-111 35 Stockholm
E-mail: [email protected]
Tel: +46 (0)8-580 065 99

About ChromoGenics

ChromoGenics is a PropTech company that produces dynamic glass for real estate. One company product, ConverLight® Dynamic, controls indoor comfort by optimising daylighting, good views and blocking solar heat, and thereby contributing to reducing costs for cooling. ConverLight® Dynamic is based on a patented solution where electrochromic coatings are sputtered onto plastic film and then laminated between glass layers. The plastic film is easy to transport which means long distance shipping of bulky glass can be avoided. ChromoGenics also offers ConverLight® Static, a static glass version, and a façade glazing solution, ConverLight® Energy. ChromoGenics has supplied glazing technology to a large number of major real estate companies. Its shares were listed on the Nasdaq First North Growth Market in 2017.

IMPORTANT INFORMATION

The information in this press release neither contains nor constitutes an offer to acquire, subscribe or otherwise trade in shares, warrants or other securities in ChromoGenics. The invitation to interested persons to subscribe for units consisting of shares and warrants series TO 4 and TO 5 in ChromoGenics has only taken place through the prospectuses that ChromoGenics published on 16 February 2022 and 8 November 2022 respectively. Readers are asked to read the prospectus for a description of the risks which are linked to an investment in the Company. This press release may not be published, published or distributed, directly or indirectly in or to the United States, Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, or any other jurisdiction where such action is wholly or partially subject to legal restrictions.