Katalysen Ventures completes a directed share issue of 250,000 new shares, raising proceeds of approximately SEK 8.75 million

The board of directors of Katalysen Ventures AB (publ) (”Katalysen” or the ”Company”) has today resolved to carry out a directed share issue of 250,000 new shares at a subscription price of SEK 35.0 per share corresponding to a premium of approximately 5.6% compared to the the volume-weighted average price for the KAV share over the period 2022-05-10 to 2022-05-23. Through the directed share issue, Katalysen will receive proceeds amounting to approximately SEK 8.75 million before transaction costs. Total transaction costs are estimated at less than SEK 50,000.

The board of directors of Katalysen has today, based on the authorization granted by the annual general meeting on 12 May 2022, resolved to carry out a directed share issue with deviation from the shareholders’ preferential rights of 250,000 new shares to an international institutional investor. This investor is Austria-based Hallmann Holding International Investment GmbH, an investor of strategic importance to Katalysen who first became a shareholder in Katalysen in the Company’s 2022 IPO.

The subscription price has been determined through negotiations and agreement with the subscribing investor. The price, SEK 35.0, corresponds to a premium of approximately 5.6% compared to the volume-weighted average price for the KAV share over the period 2022-05-10 to 2022-05-23, and the board of directors thus assesses that the subscription price fairly reflects prevailing market conditions and demand. Payment of the subscription price shall be made in cash at the latest on 31 May 2022. The board of directors has the right to postpone the last date for payment.

The reason for executing the directed issue and to deviate from the shareholders’ preferential rights are as follows:

• Due to current market conditions, it is deemed prudent to increase cash reserves.
• Due to current market conditions, opportunities may arise for Katalysen to invest into ventures at compressed price levels.
• Hallmann Holding International Investment GmbH, and its founder and owner Klemens Hallmann, is likely to provide significant strategic, long-term value for Katalysen and Katalysen’s clients. More information about Klemens Hallmann is available at www.hallmannholding.com
• Raising capital through a directed issue is more time and cost efficient for the Company compared to a rights issue.

The board of directors’ overall assessment is thus that the reasons for implementing the directed new issue with deviation from the shareholders' preferential rights outweigh the reasons that justify the main rule that new issues shall be carried out with preferential rights for the shareholders and that a new share issue with deviation from the shareholders' preferential rights is thus most advantageous for Katalysen and its shareholders.

Through the directed issue, the number of shares and votes in the Company increases with 250,000 from 5,320,995 to 5,570,995, and the share capital increases with SEK 32,500.00 from SEK 691,729.35 to SEK 724,229.35. The directed issue results in a dilution for existing shareholders of approximately 4.5% of the number of shares and votes in the Company, based on the total number of shares and votes in the Company after the directed issue.

Katalysen’s Chairman Heiner Weber comments: “As stated in our 2022Q1 report, it can be argued that the value of a good venture developer is even higher in times of market uncertainty. Our work has always revolved around solving problems, to remove obstacles between ideas, implementation, and results. This almost always requires solutions that are rational and based on real-world conditions. With this in mind, it makes a lot of sense to increase our cash reserves now so that Katalysen can be an opportunistic venture developer when it becomes possible to invest in good ideas at compressed prize levels.”

Weber continues: “When Klemens Hallmann (through Hallmann Holding International Investment GmbH) presented a desire to expand upon his initial investment from the IPO, we saw the opportunity to not only boost our cash reserves, but also to deepen our ties to a successful institutional investor with significant long-term strategic value for not only Katalysen, but also for our portfolio companies.”

This disclosure contains information that Katalysen Ventures AB 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 24-05-2022 21:04 CET.