The issue pro­ceeds from the rights issue give us the right con­di­tions to con­tin­ue the bid­ding process we pre­vi­ous­ly com­mu­ni­cat­ed as well as for con­tin­ued val­ue-cre­at­ing tech­nol­o­gy development. 

Håkan Pers­son, CEO

Smoltek car­ried out a rights issue dur­ing May and June. The sub­scrip­tion peri­od in the rights issue ran between May 31, 2024 and June 17, 2024. The final out­come result­ed in a sub­scrip­tion rate cor­re­spond­ing to 86.4 per­cent of the rights issue. 66.8 per­cent of the rights issue was sub­scribed with the sup­port of sub­scrip­tion rights and 19.6 per­cent of the rights issue was sub­scribed with­out the sup­port of sub­scrip­tion rights. 

The high sub­scrip­tion rate meant that no guar­an­tee com­mit­ments had to be called upon. Alto­geth­er, 49,853,180 new shares were sub­scribed through the rights issue, which brings the com­pa­ny approx­i­mate­ly SEK 22.4 mil­lion, before issue costs. These funds are intend­ed to be allo­cat­ed to the fol­low­ing areas of use: 

• Imple­men­ta­tion of a struc­tured process for the sale of all or parts of one or both of the sub­sidiaries Smoltek Semi and Smoltek Hydro­gen, or only the con­cepts and intel­lec­tu­al prop­er­ty rights owned by the respec­tive subsidiaries.
• Con­tin­ued val­ue-enhanc­ing tech­nol­o­gy devel­op­ment with­in the busi­ness areas semi­con­duc­tors and hydro­gen with­in the sub­sidiaries Smoltek Semi and Smoltek Hydro­gen respectively.
• Work­ing cap­i­tal for Smoltek’s run­ning expens­es in addi­tion to tech­nol­o­gy development.

Com­ment from Håkan Pers­son, CEO of Smoltek Nan­otech Hold­ing AB
”We in the man­age­ment, togeth­er with the board, are very hap­py to be able to announce that the out­come of the rights issue has been very good giv­en the pre­vail­ing mar­ket con­di­tions and that guar­an­tee com­mit­ments there­fore did not need to be used. The issue pro­ceeds from the rights issue give us the right con­di­tions to con­tin­ue the bid­ding process we pre­vi­ous­ly com­mu­ni­cat­ed and for con­tin­ued val­ue-cre­at­ing tech­nol­o­gy devel­op­ment. I would like to extend a big thank you to both exist­ing share­hold­ers and at the same time wel­come new share­hold­ers who have cho­sen to par­tic­i­pate and sup­port us on the con­tin­ued journey.”

Sum­ma­ry of the rights issue
Through the rights issue, the num­ber of shares in the com­pa­ny increased by 49,853,180 shares, from 23,074,203 shares to 72,927,383 shares, and the share cap­i­tal increased by approx. SEK 5,938,922.21, from approx. 2,748,789.48 to approx. 8,687,711.69 SEK. For exist­ing share­hold­ers who did not par­tic­i­pate in the rights issue, this meant a dilu­tion effect of approx­i­mate­ly 68 percent.

• The sub­scrip­tion peri­od for the Rights Issue ran from and includ­ing 31 May 2024 to and includ­ing 17 June 2024.
• For each (1) share owned on the record date of May 29, 2024, the hold­er received one (1) sub­scrip­tion right. Two (2) sub­scrip­tion rights gave the right to sub­scribe for five (5) shares. The sub­scrip­tion price per share amount­ed to SEK 0.45.
• The rights issue cor­re­spond­ed to an issue of a max­i­mum of 57,685,506 shares.
• In the event of full sub­scrip­tion in the rights issue, the com­pa­ny would receive an issue pro­ceeds of approx­i­mate­ly SEK 26.0 mil­lion, before issue costs. The issue was sub­scribed to 86.4 per­cent and the issue costs amount­ed to a total of approx­i­mate­ly SEK 1.5 mil­lion, which added approx­i­mate­ly SEK 21 mil­lion to the company. 

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