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Polymer Factory signs subscription commitments in conjunction to planned rights issue

NOT FOR PUBLICATION, DISCLOSURE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES, CANADA, JAPAN, SOUTH KOREA, AUSTRALIA, NEW ZEALAND, HONG KONG, SINGAPORE, SOUTH AFRICA, SWITZERLAND, UNITED KINGDOM OR ANY OTHER JURISDICTION WHERE SUCH PUBLICATION OR DISTRIBUTION WOULD BE ILLEGAL OR REQUIRE ADDITIONAL REGISTRATION ACTIONS OR OTHER ACTIONS BEYOND WHAT IS REQUIRED UNDER SWEDISH LAW. PLEASE SEE “IMPORTANT INFORMATION” AT THE END OF THIS PRESS RELEASE.

The Board of Directors of Polymer Factory Sweden AB (“Polymer Factory” or the “Company”) has, as previously communicated, resolved to carry out a rights issue of shares of approx. SEK 8.8 million, before deduction of transaction related costs (the “Rights Issue”). In conjunction with the planned Rights Issue, Polymer Factory hereby announces that the Company has entered into subscription agreements corresponding to approx. 34 percent (SEK 3.0 million) of the total issue amount that has been signed by all board members in Polymer Factory, the Company's CEO, and external investors.


In conjunction to the planned Rights Issue, members of the Board of Directors and management of Polymer Factory signed letters of intent to subscribe for a total of approx. SEK 2 million in the Rights Issue. This intention has now been replaced by binding subscription commitments. The subscription commitments from board members and management correspond to a total of approx. SEK 2 million of the Rights Issue. Additional subscription commitments of approx. SEK 1.0 million have been signed by external investors. Aggregated subscription commitments amount to approx. SEK 3.0 million, corresponding to 34 percent of the Rights Issue.


More information, including full terms and conditions, about the Rights Issue will be available in the memorandum which is expected to be published on the Company’s website (www.polymerfactory.com) around 23 February 2023.


Subscription commitments by board members and CEO

Name/Company Position in Polymer Factory Number of shares Amount (SEK)

Anders Hult Board Member 312,500 500,000.00

Mats Wallnér* Board Member 312,500 500,000.00

Eva Malmström Chair of the Board 312,500 500,000.00

Jonsson

Michael Malkoch** Board Member & CTO 250,000 400,000.00

Elin Mignérus CEO 62,500 100,000.00

Leif Gustafsson Board Member 11,152 17,843.20

Gynnerstedt

Totalt 1,261,152 2,017,843.20


*Subscription will take place through the company Nordicblue AB.

**Subscription will take place through the company SCEM Consulting AB.


The Rights Issue in brief

  • The Board of Directors resolved on the Rights Issue on 27 January 2023. The resolution is subject to approval by an Extraordinary General Meeting planned to be held on 15 February 2023.

  • The Rights Issue can provide Polymer Factory proceeds of a maximum amount of approx. SEK 8.8 million before deduction of transaction related cost.

  • The purpose of the Rights Issue is to finance a continued acceleration of sales by, among other things, increase sales and marketing activities, employ an additional sales resource, expansion of the orga­nization by adding resources to meet increased demand, and continued development of the Company’s portfolio of IP rights and ISOs.

  • The subscription price has been set to SEK 1.60 per share.

  • Existing shareholders will receive one (1) subscription right for each share held on the record date on 22 February 2023. Five (5) subscription rights entitle the holder to subscribe for four (4) new shares.

  • The subscription period will run from 24 February 2023 until and including 10 March 2023.


For more information about the Rights Issue, please contact:

Sedermera Corporate Finance AB Phone: +46 (0) 40 615 14 10 E-mail: cf@sedermera.se www.sedermera.se


For more information about Polymer Factory, please contact:

Elin Mignérus, CEO

Phone: +46 (0) 79 300 27 76


Find the full press release here:

Press release Feb 22
.pdf
Download PDF • 215KB

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