LED iBond’s Rights Issue Oversubscribed

LED iBond International's (LED iBond) rights issue, which was announced on 16 March 2021, has attracted significant attention in the market – both among the company's existing shareholders and among new investors.

The total number of subscription requests amounted to DKK 92.3 million. The rights issue of DKK 57.1 million, equivalent to an offering of 3,172,965 new shares, was thus oversubscribed by 62%. Due to the substantial interest in subscribing for shares, no underwriting undertakings have been utilized.

Approximately 33.5 % of the new shares were subscribed for by exercise of pre-emptive subscription rights while the remaining approx. 66.5% of the offering were subscribed by existing shareholders and around 500 new shareholders. Allotment of this part of the offering has been made in accordance with the principles described in the prospectus of 16 March 2021.

Rolf H. Sprunk-Jansen, CEO of LED iBond International A/S, says:

- We are very pleased with this result of the rights issue. It is a huge success for the company and for our employees that our existing shareholders are supporting the business with additional capital and that we can welcome 500 new shareholders. It is the best possible starting point for our plans to accelerate business development and increase production capacity.

LED iBond expects that settlement of the offer shares and registration of the share capital increase with the Danish Business Authority will take place on 27 April 2021.

The company further expects that the first day of trading of the offer shares on Nasdaq First North Growth Market Denmark is 28 April 2021 and that the merger of the temporary and permanent ISIN codes will be implemented on 29 April 2021 after 5:00 p.m. CET.