Eevia Health Publishes the Outcome of the Rights Issue

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The subscription period for Eevia Health Plc's ("Eevia" or the "Company") rights issue (the "Rights Issue") of SEK 12.1 million ended on February 18, 2025, in Sweden and February 20, 2025, in Finland. A total of 59,795,010 shares, corresponding to 44.6 percent of the shares in the Rights issue, have been allocated. Current shareholders subscribed for 14,578,514 shares (c. 10.9 percent of the offered shares) using subscription rights, and 8,463,250 shares (c. 6.3 percent) were subscribed without the support of rights. Together, these subscriptions correspond to c. 17.2 percent of the rights issue. Thus, Eevia called on top guarantee commitments of 36,753,246 shares (c. 27.4 percent of the offered shares). Through the Rights Issue, Eevia will receive approximately SEK 5.34 million before transaction costs, where SEK 3.7 million is a debt-to-equity swap, including SEK 2.3 million set off against the bridge loan.

”I appreciate the support from shareholders and investors. We are actively implementing our strategic turnaround plan, driving significant cost savings and improving cash flow through reduction of inventory and improvements in order income and sales revenues. These improvements are helping us to strengthen cash flow and meet our 2025 financial targets. While the rights issue improved our balance sheet and liquidity, it hasn't fully relieved the liquidity pressure. To address this, we are asking unsecured creditors to restructure the remaining debt and significantly extend the payment time profile. We also seek to conduct a directed equity issue for approximately SEK 4.5 million to cover part of the unsubscribed portion of the rights issue. Once we have completed these actions, we'll be stronger to achieve our 2025 and 2026 financial goals.” - Stein Ulve, CEO of Eevia Health.

 

The Rights Issue

The Rights Issue comprised an offer of a maximum of 134,111,190 shares. In total, 59,795,010 shares have been subscribed for, constituting approximately 44.6 percent subscription rate of the offered shares. From the total, 14,578,514 shares, corresponding to approximately 10.9 percent of the shares offered, have been subscribed for with the support of subscription rights. In addition, 8,463,250 shares were subscribed for without the support of subscription rights, corresponding to approximately 6.3 percent of the shares offered. Together, these subscriptions correspond to approximately 17,2 percent of the Rights Issue. As previously communicated, the Company has received guarantee commitments, so-called top guarantees, which amounted to approximately SEK 3.25 million. Since the subscription rate of shares amounted to approximately 17.2 percent, guarantee commitments of 36,753,246 shares, corresponding to approximately SEK 3.25 million and approximately 27.4 percent of the Rights Issue, will be utilized. Eevia will receive approximately SEK 5.4 million before the deduction of transaction costs, where approximately SEK 3.7 million is debt to equity swap, including SEK 2.3 million set off against the bridge loan.

 

Subscription by CEO Stein Ulve

On February 12, 2025, Eevia and CEO Stein Ulve announced that Stein Ulve had reorganized his ownership of Eevia shares into Orcator Oy, a company 100 percent owned by Stein Ulve and his spouse. Furthermore, Stein Ulve announced that he subscribed for 5,892,334 shares (c. 4.4%) in the Rights Issue, corresponding to his pro rata. This subscription has been made through Orcator Oy without the support of subscription rights due to a delay in the transfer of shares and subscription rights to Orcator Oy. Thus, this subscription is included in the number of shares subscribed for without support of subscription rights and comes in addition to the 25,974,026 shares which Orcator Oy receives from its top guarantee commitment.

 

Delivery of shares

Eevia expects the shares in the Rights Issue to be registered with the Finnish Trade Register (the "Trade Register") approximately on or about March 3, 2025. The Company further expects the delivery of the shares to subscribers in the Rights Issue through Euroclear Finland approximately on or about March 4, 2025. The shares of the Company are registered in the electronic book-entry securities system maintained by Euroclear Finland. The Company and its shares will have their primary registration in the book-entry register of Euroclear Finland. Further, the shares are registered in the corresponding Swedish book-entry securities system maintained by Euroclear Sweden. Eevia will announce the last day of trading with Paid Subscribed Shares (Sw. BTA) and the first day of trading for the new shares as soon as the Rights Issue is registered with the Finnish Trade Register.

 

For further information, please contact:

Stein Ulve, CEO, Eevia Health Plc

Email: [email protected]

Telephone: +358 400 22 5967

 

This information is such that Eevia Health Plc is required to make public in accordance with the EU's Market Abuse Regulation (MAR). The information was made public by the Company's contact person above on February 24, 2025, at 16:00 CET.

Information about Eevia Health Plc

Eevia Health Plc, founded in March 2017, addresses global health challenges with bioactive compounds sustainably extracted from renewable plant materials. It focuses on the gut and related health, including kidney and urinary health.

Eevia Health is a manufacturer of 100 percent organically certified plant extracts. The materials are primarily wild harvested from the pristine Finnish and Swedish forests near or above the Arctic Circle. The extracts are sold B2B as ingredients to dietary supplements and food brands globally, and these global brands utilize the ingredients in their consumer product formulas.

As a pioneering company, Eevia is developing high-value food ingredients, blended solutions, and biomaterials that significantly benefit human health. Eevia Health operates a modern green-chemistry production facility in Finland with a short value chain and environmentally friendly carbon footprint. Eevia listed its shares at the Spotlight Stock Market in Sweden in June 2021, with the short name (ticker) EEVIA.

 

To learn more, please visit www.eeviahealth.com or follow Eevia Health on LinkedIn@EeviaHealth.