Exercise of the over-allotment option in relation to the initial public offering of Modulight and termination of the stabilisation period
COMPANY RELEASE 6 OCTOBER 2021 AT 7:00 P.M. FINNISH TIME
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, NEW ZEALAND, AUSTRALIA, JAPAN, HONG KONG, SINGAPORE OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL
With reference to the Finnish language prospectus of Modulight Corporation (“Modulight” or the “Company”) dated 17 September 2021 and the company release published on 29 September 2021 on the result of the initial public offering of Modulight (the “Offering”), Modulight has received a notification from Danske Bank A/S, Finland Branch (“Danske Bank”), which acted as stabilising manager in the Offering, that no stabilisation measures have been carried out since the listing and that due to Modulight’s share price development, Danske Bank has decided to discontinue the stabilisation period and to exercise the Over-Allotment Option (as defined below) related to the Offering.
The Company has granted Danske Bank the right to subscribe for a maximum of 1,826,084 new shares in a directed share issue at the subscription price of the Offering solely to cover possible over-allotments in connection with the Offering (the “Over-Allotment Option”). In accordance with the Over-Allotment Option, Danske Bank will subscribe for 1,826,084 new shares in a directed share issue. After the new shares have been subscribed for by Danske Bank and registered, the Company will acquire the new shares from Danske Bank without consideration and cancel the acquired shares.
The size of the Offering is confirmed at 13,999,982 shares and the gross proceeds from the Offering are approximately EUR 71.9 million. After exercise of the Over-Allotment Option, the total number of all shares in Modulight is 42,616,936.
For further information, please contact:
IR: Ulla Haapanen m. +358 40 830 4676
Email: [email protected]
Certified Adviser: Danske Bank A/S, Finland Branch, m. +358 40 414 5358
www.modulight.com
Twitter: @modulight, @orsila
Modulight in brief
Modulight Corporation is a biomedical laser company that designs and manufactures products for oncology, ophthalmology and genetics. The company also provides solutions for selected high value-add applications including quantum computing and digital press. The company’s products include medical devices, subsystems, software, cloud services and specialized semiconductors. Modulight's products are used worldwide by many Fortune 500 companies, international pharmaceutical companies, and well-known cancer centers and universities. Modulight was founded in 2000 and is headquartered in Tampere, Finland.
DISCLAIMER
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States, Canada, New Zealand, Australia, Japan, Hong Kong, Singapore or South Africa. The information contained herein does not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States. Modulight Corporation (the “Company”) does not intend to register any portion of the offering in the United States under the U.S. Securities Act of 1933, as amended, or to offer securities to the public in the United States.
The issue, exercise and/or sale of securities are subject to specific legal or regulatory restrictions in certain jurisdictions. The Company or Danske Bank A/S, Finland Branch assume no responsibility in the event there is a violation by any person of such restrictions.
The information contained herein shall not constitute an offer to sell or a solicitation of an offer to purchase or subscribe, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Investors must neither accept any offer for, nor acquire, any securities to which this document refers, unless they do so on the basis of the information contained in the applicable prospectus published or offering circular distributed by the Company.
In the Offering, the Sole Global Coordinator and Bookrunner acts exclusively for the Company and for no one else and will not regard any other person as a client in connection with the Offering. The Sole Global Coordinator and Bookrunner will not be responsible to any other person for providing the protections afforded to its respective client, or for advising any such person on the contents of this announcement or in connection with any transaction referred to in this announcement.
The Company has not authorized any offer to the public of securities in the United Kingdom or in any Member State of the European Economic Area other than Finland. With respect to the United Kingdom and each Member State of the European Economic Area other than Finland and which applies the Prospectus Regulation (each, a “Relevant Member State”), no action has been undertaken or will be undertaken to make an offer to the public of securities requiring publication of a prospectus in any Relevant Member State. As a result, the securities may only be offered in Relevant Member States (a) to any legal entity, which fulfils the requirements of a qualified investor as defined in the Prospectus Regulation; or (b) in any other circumstances falling within Article 1(4) of the Prospectus Regulation. For the purposes of this paragraph, the expression an “offer of securities to the public” means a communication to persons in any form and by any means, presenting sufficient information on the terms of the offer and the securities to be offered, so as to enable an investor to decide to purchase or subscribe for those securities. The expression “Prospectus Regulation” means Regulation (EU) 2017/1129 of the European Parliament and of the Council, as amended.
This communication is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as “relevant persons”). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
Full terms, conditions and instructions for the Offering are included in the Prospectus prepared by Modulight Corporation in connection with the Offering. The Prospectus and its unofficial English translation are published on the Company’s website at www.modulight.com/ipo.
Any offering to subscribe for the securities referred to in this communication will be made by means of a prospectus published by Modulight Corporation. The prospectus contains detailed information about the Company and its management, as well as financial information. This communication is an advertisement and not a prospectus for the purpose of the Prospectus Regulation. Investors should not acquire any securities referred to in this communication except on the basis of information contained in a prospectus. Any approval and registration by the Finnish Financial Supervisory Authority of the prospectus shall not be considered as an endorsement of the securities that are the subject of the prospectus.
Certain statements in this communication are “forward-looking statements”. Forward-looking statements include statements concerning plans, assumptions, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, the Company’s competitive strengths and weaknesses, plans or goals relating to financial position, future operations and development, its business strategy and the anticipated trends in the industry and the political and legal environment in which it operates and other information that is not historical information, investments, the initial public offering and listing, future cash flow generation, operating profit margin, financial position and liquidity. In some instances, they can be identified by the use of forward-looking terminology, including the terms “believes”, “intends”, “may”, “will” or “should” or, in each case, their negative or variations on comparable terminology.
Forward-looking statements in this release are based on assumptions, many of which in turn are based on assumptions. By their very nature, forward-looking statements involve inherent risks, uncertainties and assumptions, both general and specific, and the risk exists that the predictions, forecasts, projections, plans and other forward-looking statements will not actualize. Given these risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements. Any forward-looking statements contained herein speak only as at the date of this release. Save as required by law, the Company and the managers do not intend and do not assume any obligation, to update or correct any forward-looking statement contained herein.
