Cline Scientific: Cline Scientific AB publishes memorandum regarding the Rights Issue

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Cline Scientific AB (publ) publishes today, June 22, 2023, a memorandum regarding the Company's upcoming rights issue of shares of approximately SEK 9.2 million.

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

Thepress release published on 12th June 2023 contained a minor misprint regarding the number of B shares in the issue. In the text below and the Memorandum, this has now been corrected.

Application forms for subscription without the support of subscription rights can be obtained from Nordic Issuing's platform www.nordic-issuing.se from and including the first day of the subscription period, which is June 26, 2023.

About the rights issue
The board of Cline Scientific AB decided on June 12, 2023, with the support of the authorization from the annual general meeting on April 19, 2023, to carry out a new share issue with priority for existing shareholders. The rights issue increases the share capital by a maximum of SEK 3,854,244.80 through the issue of a maximum of 2,171,946 shares of series A and a maximum of 36,370,502 shares of series B. The new issue adds approximately SEK 9.2 million before issue costs in case of full subscription. The minimum limit for completing the issue is set at SEK 5.5 million, which means that if the issue is not subscribed to this level, the issue will not be carried out and all subscription rights will be cancelled.

Conditions for the new issue
The right to subscribe primarily belongs to the company's shareholders, who receive a subscription right for each share, but other private and institutional investors are also welcome to subscribe.

For each (1) existing A share, one (1) subscription right of series A is obtained, and for each existing B share, one (1) subscription right of series B is obtained. One (1) subscription right gives the right to subscribe for two (2) new shares in the respective series. Each issued share has a quota value of SEK 0.10 per share.

The issue price is SEK 0.24 per share.

The issue comprises a maximum of 2,171,946 shares of series A and a maximum of 36,370,502 shares of series B. To complete the issue, at least 27,500,000 shares must be subscribed. Otherwise, the issue is terminated and the subscription proceeds are returned to the respective subscribers.

Shares that are not subscribed with pre-emptive rights shall be allocated primarily to those who subscribed for shares with the support of subscription rights and who wish to subscribe for additional shares, (regardless of whether they were shareholders on the record date or not), pro rata their subscription with the support of subscription rights, and, in insofar as this cannot happen, by drawing lots. After that, any remaining shares must be distributed to the new investors who subscribed to the issue.

The new shares that are added to the issue are entitled to a dividend for the first time on the record date for the dividend that falls closest after the new shares have been entered in the share register at Euroclear Sweden AB.

NOTE THAT EITHER THE CASH PAID FOR SUBSCRIPTION RIGHTS IN THE MARKET OR ANY COURTAGE WILL BE REFUNDED. THE INVESTORS WHO ACQUIRE SUBSCRIPTION RIGHTS IN THE MARKET. THEREFORE THEY RISK LOSING THE ENTIRE AMOUNT THEY HAVE PAID FOR THE SUBSCRIPTION RIGHTS.

Schedule for the rights issue

• Subscription period 26 June – 12 July 2023.
• Subscription with preferential rights takes place by payment no later than July 12, 2023.
•  Subscription without preferential rights can take place during the same period.
• Trading in subscription rights of series B will take place on First North during the period 26 June – 7 July 2023. If the issue is canceled, all subscription rights expire without value.
   
• Trading in BTA of series B will take place from and including the day the company ascertains that the minimum limit for the completion of the issue has been reached, which is estimated to be 19 July 2023 until the shares are registered with the Swedish Companies Registration Office, which is estimated to take place at the beginning of August 2023. Should if the minimum limit for the completion of the issue is not reached, the issue proceeds will be repaid in full via the respective subscriber's representative.

For questions about Cline Scientific and the rights issue, please contact:
Hanne Evenbratt, CEO

Email: [email protected]

Phone: +46 704 88 79 23