NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SINGAPORE, SOUTH AFRICA, OR ANY OTHER JURISDICTION WHERE SUCH PUBLICATION OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE SUBJECT TO LEGAL RESTRICTIONS. SEE ALSO THE SECTION "IMPORTANT INFORMATION" BELOW.
Lipum AB (publ) ("Lipum" or the "Company") today announces the preliminary outcome of the new share issue with preferential rights for the Company’s shareholders (the "Rights Issue") for which the subscription period ends today, 18 July 2023. The preliminary subscription breakdown indicates that 1,660,461 shares (corresponding to approximately 57.8 percent of the Rights Issue) have been subscribed for in the Rights Issue. The Rights Issue was secured beforehand by subscription undertakings covering approximately 53.1 percent of the Rights Issue. Through the Rights Issue, the Company is estimated to raise approximately SEK 15.3 million before transaction costs.
The subscription period in the Rights Issue ends today on 18 July 2023 and a preliminary subscription breakdown indicates that 1,660,461 shares (corresponding to approximately 57.8 percent of the Rights Issue) have been subscribed for in the Rights Issue, of which 1,634,571 shares (corresponding to approximately 56.9 percent of the Rights Issue) have been subscribed for by way of exercise of subscription rights, and applications for subscription of 25,890 shares (corresponding to approximately 0.9 percent of the Rights Issue) without subscription rights have been submitted during the subscription period. The Rights Issue was secured beforehand by subscription undertakings covering approximately 53.1 percent of the Rights Issue. Through the Rights Issue, the Company is, based on the preliminary subscription breakdown, estimated to raise approximately SEK 15.3 million before transaction costs.
The final outcome of the Rights Issue is expected to be announced on Thursday, 20 July 2023. Allotment of shares subscribed for without subscription rights will be carried out in accordance with the principles resolved upon by the board of directors and which are included in the information memorandum prepared in connection with the Rights Issue and which was published on 30 June 2023. Notice of allotment of shares subscribed for without subscription rights is expected to be distributed on 20 July 2023 through a settlement note. Shares which have been subscribed for and allotted without subscription rights shall be paid in cash no later than 25 July 2023 in accordance with the instructions in the settlement note. Nominee-registered shareholders will receive notice of allotment in accordance with the respective nominee's routines. Only those who are allotted shares will be notified.
Erik Penser Bank is financial adviser and Mannheimer Swartling Advokatbyrå is legal adviser to Lipum in connection with the Rights Issue.
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in the Company in any jurisdiction.
This press release may not be released, published or distributed, directly or indirectly, in or into the United States of America, including its territories and possessions, any state of the United States or the District of Columbia (the “United States”), Australia, Hong Kong, Japan, Canada, New Zealand, Singapore, South Africa, or any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require prospectuses, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in a manner that contravenes such restrictions or would entail such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws.
The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (“Securities Act”), or under the securities laws of any state or other jurisdiction in the United States and may not be offered, subscribed, used, pledged, sold, resold, allotted, delivered or transferred, directly or indirectly, in or into the United States. All offers and sales of securities in connection with any rights offer by Lipum will be made outside of the United States and in reliance on, and in compliance with, Regulation S under the Securities Act. There will be no public offering in the United States.
This press release contains certain forward-looking information that reflects the Company’s present view of future events as well as financial and operational development. Words such as “intend”, “assess”, “expect”, “may”, “plan”, “believe”, “estimate” and other expressions entailing indications or predictions of future development or trends, not based on historical facts, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties as it depends on future events and circumstances. Forward-looking information is not a guarantee of future results or development and actual outcomes may differ materially from the statements set forth in the forward-looking information.