Postat

Preliminary subscription rate of rights issue in Simris Alg AB (publ) amounts to approximately 110 percent

The preliminary outcome of the rights issue in Simris Alg AB (publ) (“Simris Alg” or the “Company”), the subscription period of which ended at 3:00 p.m. today, May 5, 2022, indicates a subscription rate of 110,1 percent. Through the rights issue, Simris Alg will receive the maximum amount of SEK 25,1 million before issuance costs.

The preliminary outcome indicates that approximately 85,2 percent of the rights issue was subscribed for with subscription rights, and approximately 24,9 percent without subscription rights. The rights issue was thus oversubscribed, and the guarantee undertakings will not be utilized.

The final outcome is planned to be announced on May 9, 2022.

Simris Chairman, Steven Schapera said “I am really pleased to see that our Shareholders have embraced the vision of the new Board, and demonstrated their confidence by subscribing for shares. With our new CEO joining us on May 16th, the Company is well positioned to enter the next phase of driving revenue and reaching operating profitability.”

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:
Otto Rydbeck, CEO Stockholm Corporate Finance 
Tel: +46 8 440 56 40  
email: otto.rydbeck@stockholmcorp.se

Steven Schapera, chairman, Simris Alg AB
Tel: +44 791 771 5533
email: steven@simris.com

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: ca@mangold.se.

About Stockholm Corporate Finance 
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.