Simris Alg publishes investment memorandum regarding Rights Issue

Simris Alg AB (”Simris Alg” or ”the Company”) has produced an investment memorandum regarding the Company’s Rights Issue, which was made public on March 23, 2022 and approved by the extraordinary general meeting on April 8, 2022 (”the Rights Issue”). The investment  memorandum is available on the Company’s web site, www.simrisalg.se, and will be accessible on Aqurat Fondkommission AB’s web site, www.aqurat.se.

Application forms and other information regarding the Rights Issue will be available on the Company’s web site, www.simrisalg.se, and on Aqurat Fondkommission AB:s web site, www.aqurat.se, from April 21, 2022.

The Rights Issue in Summary:

• Each (1) existing share in the Company held on the record date April 19, 2022 entitles to one (1) subscription right. One (1) subscription right entitles to subscription of one (1) B share. The subscription price is 0.32 SEK per B share.
• The terms of the Rights Issue means that a maximum of 78,547,046 B shares may be issued. Upon full subscription in the Rights Issue, the proceeds received by the Company is about SEK 25.1 million, before issuing costs. Thus, the share capital may increase by a maximum of about SEK 6,823,800.55, from about SEK 6,823,800.55 to about SEK 13,647,601.10.
• The subscription period in the Rights Issue runs from April 21, 2022 to May 5, 2022. Subscription rights that are not exercised during the subscription period become invalid and lose their value.
• The record date for participation in the Rights issue was April 19, 2022. The last date of trading in the Company’s B share, including the right to participate in the Rights Issue was on April 13, 2022.
• The Rights Issue is covered to about 7.1 percent by subscription commitments and by guarantee commitments to about 73.5 percent. Accordingly, 80 percent of the Rights Issue is covered by subscription and guarantee commitments.

Time schedule for the Rights Issue:

Record date for participation in the Rights Issue:  April 19, 2022

Subscription period:      April 21 – May 5, 2022

Trading in subscription rights:      April 21, – May 2, 2022

Estimated publication of outcome:    Around  May 9, 2022

For complete information about the Rights Issue, please see the investment memorandum published by Simris Alg.

 

Advisors

Stockholm Corporate Finance acts as the financial advisor and Advokatfirman Delphi acts as the legal advisor to Simris Alg in connection with the Rights Issue. Aqurat Fondkommission AB is the issuing agent in the Rights Issue.

 

For further information, please contact:

Steven Schapera, chairman, Simris Alg AB

Tel: +44 791 771 5533, email: [email protected]

THE INFORMATION IN THIS PRESS RELEASE IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE USA, AUSTRALIA, HONG KONG, JAPAN, CANADA, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES.

About Simris Alg

Simris Alg is a pioneering biotechnology company dedicated to the enormous potential of microalgae in the discovery and production of high-quality bioactive substances and alternatives to unsustainable marine ingredients. We are engaged in research, development, and production of bioactive substances from microalgae, for nutraceutical, cosmetic and pharmaceutical applications. Our technology provides access to bioactive substances with new functions, while at the same time replacing unsustainable raw materials from endangered marine species and ecosystems.

Simris Alg’s share is traded on Nasdaq First North Growth Market with the ticker SIMRIS and ISIN-code SE0008091664. Mangold Fondkommission AB is the Company’s Certified Adviser, reachable by tel: 08-503 015 50 and email: [email protected].

About Stockholm Corporate Finance AB

Stockholm Corporate Finance is a Swedish, independent, and privately-owned financial advisor that offers financial advisory in capital raisings, ownership changes, and mergers and acquisitions to listed and privately held companies. Stockholm Corporate Finance is the exclusive Swedish partner in the global network M&A Worldwide, that consists of 49 M&A-advisors and investment banks in 36 countries. Stockholm Corporate Finance is under the supervision of the Swedish Financial Supervisory Authority, Finansinspektionen, and is a member of SwedSec Licensiering AB. For further information see: www.stockholmcorp.se.

Important information

The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in the Company in any jurisdiction, where such offer would be considered illegal. This press release is not a prospectus for the purposes of the Prospectus Regulation (EU) 2017/1129 (the “Prospectus Regulation”) and has not been approved or reviewed by any regulatory authority in any jurisdiction. This press release neither identifies nor pretends to identify risks (direct or indirect) that may be attributable to an investment in the Company. The information in this press release is only for the purpose of describing the background to the Rights Issue and does not claim to be complete or exhaustive. No assurance shall be given as to the information in this press release regarding its accuracy or completeness. This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into Australia, Hong Kong, Japan, Canada, New Zeeland, Switzerland, Singapore, South Africa, the United States, or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.

 

Forward-looking statements

This press release contains forward-looking statements that reflect the Company's intentions, beliefs or current expectations and goals for the Company's future operations, financial situation, liquidity, earnings, prospects, expected growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are statements that are not historical facts and can be identified with words such as "believe", "expect", "anticipate", "refer", "can", "plan", "appreciate", "will", "should", "could ", "aim" or "maybe" or, in each case, their negative, or similar, expressions. The forward-looking statements in this press release are based on various assumptions, many of which in turn are based on additional assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it cannot give any guarantees that they will occur or prove to be correct. As these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual result or results may differ significantly from those set forth in the forward-looking statements which are the result of many factors. Such risks, uncertainties, unforeseen events, and other significant factors may cause actual events to differ materially from the expectations expressed or implied in this press release by such forward-looking statements. The Company does not guarantee that the assumptions behind the forward-looking statements in this press release are free from errors and each reader should not place any excessive dependence on the forward-looking statements in this press release. The information, opinions and forward-looking statements in this press release relate only to the situation at its date and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm or publish any revisions of forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release, unless it is required by law or by Nasdaq First North Growth Market’s regulations for issuers.