Cline Scientific AB (publ) publishes memorandum regarding the Rights Issue

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 Today, May 5, 2023, Cline Scientific AB (publ) ("Cline" or the "Company") publishes a memorandum regarding the Company's upcoming rights issue of shares of approximately SEK 6.3 million before issue costs (the "Rights Issue").

The memorandum is available on the Clines website (http://www.clinescientific.com/foretradesemission-2023).

 

About the Rights Issue

The Board of Directors of Cline resolved on April 17, 2023, with the support of the authorization from the Annual General Meeting on April 20, 2022, to carry out the Rights Issue of a maximum of 9 635 611 shares divided into a maximum of 542 986 class A shares and a maximum of 9 092 625 class B shares. Upon full subscription in the Rights Issue, the Company will receive approximately SEK 6.3 million, before deduction of issue costs, which are estimated to amount to approximately SEK 0.6 million. The proceeds from the Rights Issue are primarily intended to be used to enable continued operation and continued development of StemCART.

 

Preliminary timetable

• Subscription period 8 May – 25 May 2023
• Subscription with preferential rights takes place by payment no later than May 25, 2023.
• Subscription without preferential rights can take place during the same period.
• Trading in series B warrants will take place on First North during the period May 8 – May 22, 2023.
• Trading in BTA of series B will take place from and including 8 May 2023 until the shares are registered with the Swedish Companies Registration Office, which is expected to take place in mid-June 2023.

 

Terms and conditions for the Rights Issue

• The subscription price in the Rights Issue amounts to SEK 0.65 per share regardless of share type.

• The Rights Issue comprises a maximum of 9 635 611 shares divided into a maximum of 542 986 class A shares and a maximum of 9 092 625 class B shares. Upon full subscription in the Rights Issue, Cline will receive approximately SEK 6.3 million before issue costs.
• In case of full subscription in the Rights Issue, the Company will receive approximately SEK 6.3 million, before deductions for issue costs, which are estimated to amount to approximately SEK 0.6 million.
• Shareholders in the Company who, on May 2, 2023, was registered in the share register maintained by Euroclear Sweden AB has preferential rights to subscribe for new shares in the Rights Issue. For each existing A share, one (1) subscription right of series A was obtained, and for each existing B share, one (1) subscription right of series B was obtained. Two 2) subscription right of series A entitles to subscription of one (1) new A share, and two (2) series B subscription right entitles you to subscribe for one (1) new B share.
• Cline has received subscription commitments of approximately SEK 314 625, corresponding to approximately 5 percent of the Rights Issue, from the Board of Directors and existing shareholders.

 

For more information, please contact:

Patrik Sundh, CEO

Email: [email protected]

Phone: +46 703-585 088

 

About Cline Scientific

Cline Scientific develops advanced cancer diagnostics and regenerative medicine treatments. Cline’s unique patented surface nanotechnology provides solutions to critical challenges for cell-based products and process in Life Science. Cline is driving two projects through to a clinical stage, StemCART - a stem cell therapy for joint repair, and CellRACE- a cancer diagnostic to predict metastasis.

 

Important Information
The publication, release or distribution of this press release may be subject to restrictions in certain jurisdictions. Recipients of this press release in those jurisdictions where this press release has been published, disclosed or distributed should inform themselves of and observe any such restrictions. This press release does not constitute an offer of, or an invitation to acquire or subscribe for, any securities of Clean Industry Solutions in any jurisdiction.

 

This press release does not constitute an offer or invitation 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 U.S. Securities Act of 1933, as amended. The information contained in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, in or into the United Kingdom, the United States, Canada, Japan, Australia, Hong Kong, New Zealand, South Africa, South Korea or any other jurisdiction where such release, publication or distribution would be contrary to applicable law or regulation.

Within the European Economic Area, no securities are offered to the public in any country other than Sweden.

 

This press release contains certain forward-looking information that reflects the Company's current views on future events and financial and operational developments. Words such as "intends", "estimates", "expects", "may", "plans", "believes", "estimates" and other expressions which imply indications or predictions of future developments or trends, and which are not based on historical facts, constitute forward-looking information. Forward-looking information is inherently subject to known and unknown risks and uncertainties because it depends on future events and circumstances. Forward-looking information is not a guarantee of future performance or development, and actual results may differ materially from those expressed in the forward-looking information.