Clean Industry Solutions Holding Europe announces outcome of the rights issue

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Clean Industry Solutions Holding Europe AB (publ) (“Clean Industry Solutions” or the “Company”) today announces the outcome of the rights issue of shares which was announced by press release on 31 August 2023 (the "Rights Issue"). The Rights Issue has been subscribed for a total of approximately 23.6 percent. In addition, approximately 31.5 percent of the offered shares have been allocated to underwriters. Through the Rights Issue, Clean Industry Solutions receives approximately SEK 14.0 million before deduction of issue costs. The proceeds from the Rights Issue will primarily be used to finance the growth of the subsidiaries and working capital for new customer projects. The Company also expects that the strengthened financial position, combined with an increased market demand, will have a positive impact on discussions and negotiations with current and potential customers.

“The capital injection is an important step towards realizing Clean Industry Solutions' full potential. We are well-positioned to capitalize on the growing demand we see in the market, especially considering our advanced technology and our well-established customers. The capital injection allows us to intensify our work in three key areas: maximizing existing business opportunities, signing new agreements, and strengthening our team of specialists. As previously communicated, we have a strong pipeline and hope to announce positive news in the near future. We remain deeply committed to delivering value to our investors and have full confidence in our strategic direction. Thank you for your continued trust and support.” says Clean Industry Solutions CEO Christian Zahler.

Outcome of the Rights Issue
The subscription period in the Rights Issue ended on 26 September 2023. In total, 15,047,952 shares were subscribed for with and without support of subscription rights, corresponding to approximately 23.6 percent of the Rights Issue. 14,530,840 shares were subscribed for with subscription rights, corresponding to approximately 22.8 percent, whereas 517,112 shares were subscribed for without subscription rights, corresponding to approximately 0.8 percent of the Rights Issue. 20,052,048 shares have been allocated to underwriters, corresponding to approximately 31.5 percent of the Rights Issue.

Through the Rights Issue, the Company receives approximately SEK 14.0 million before deduction of issue costs, which are estimated to amount to approximately SEK 3.5 million, of which the underwriting compensation amounts to approximately SEK 1.8 million.

Notice of allotment and delivery
Allotment of shares subscribed for without subscription rights, has been carried out in accordance with the principles set out in the prospectus that was published on 8 September 2023. Notification of the allotment of shares subscribed for without subscription rights, will be sent via a separate settlement note. Nominee shareholders receive notification of allotment in accordance with the respective nominee's routines.  

Number of shares and share capital
Through the Rights Issue, the number of shares in Clean Industry Solutions increases by 35,100,000 shares, from 25,497,762 shares to 60,597,762 shares, and the share capital increases by SEK 3,454,007.436923, from SEK 2,509,101.412333 to SEK 5,963,108.849256.

Paid Subscribed Shares (“BTA”)
Trading in BTA takes place on Nasdaq First North Growth Market until the conversion of BTA into shares, which takes place after the Rights Issue have been registered at the Swedish Companies Registration Office. Registration at the Swedish Companies Registration Office is expected to take place during week 41, 2023.

Recalculation of warrants of series TO 1
As a result of the Rights Issue, Clean Industry Solutions will, in accordance with the terms and conditions of warrants of series TO 1, carry out a recalculation of the subscription price when subscribing for shares through the exercise of warrants of series TO 1 and of the number of shares that each warrant of series TO 1 entitles to subscription of. The final recalculation will be announced by the Company via press release before the exercise period for warrants of series TO 1 commences on 26 October 2023. Complete terms and conditions for warrants of series TO 1 are available on Clean Industry Solutions' website: https://cleanindustrysolutions.com.

This disclosure contains information that Clean Industry Solutions Holding Europe 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 28-09-2023 18:30 CET.