Gothenburg, 28 May 2024 at 19.05 CET – Heliospectra AB (publ) (“Heliospectra” or the “Company”), has today entered into an agreement on a capital adequacy guarantee with the principal owners Weland Stål AB, Agartha AB and Corespring New Technology AB (together ” Principal Owners”). The purpose of the capital adequacy guarantee (“Guarantee”) is to secure the Company’s possible liquidity needs during the period up to and including the day of the Company’s Annual General Meeting in 2025. The guarantee is limited to a total amount of SEK 20 million, distributed among all Shareholders.

The Company’s three Principal Owners wish to show their support for the Company in this important growth phase and have therefore entered into an agreement with the Company on a capital coverage guarantee. The principal owners thereby undertake to carry out so-called convertible investments in Heliospectra when called upon by the Company and thereby ensure that Heliospectra’s equity amounts to at least the registered share capital on each occasion.

The guarantee will be distributed among the Shareholders according to their shareholding in Heliospectra at the time of the respective call. The guarantee applies up to and including the company’s annual general meeting in 2025 and is limited to SEK 20 million, distributed among all Shareholders.

– The new capital coverage guarantee is a way for the owners to support the company during this critical period when we see opportunities for the company to grow and investments are necessary. However, we would like to emphasize that the board simultaneously works in parallel with securing strategic investments and partners to further increase the capital, and also broaden the company’s network within its own industry. Different offers and alternatives are evaluated on an ongoing basis, says Andreas Gunnarsson, chairman of the board and representative of Corespring New Technology.

– The main owners are united and want to emphasize their full support of Heliospectra and its vision. However, for the necessary investments to be carried out without the risk of a lack of liquidity, resources are needed. We, therefore, see this capital coverage guarantee as necessary. Since joining as CEO, Bonny has implemented significant operational and strategic changes that have created the conditions for healthy long-term growth for the company. As the majority owner, we look forward to seeing what the company can achieve in the coming years, says Staffan Gunnarsson, CEO, Weland Stål AB.

– The new system solution that Heliospectra launched in the last two years creates value for customers and provides a stable, broad base from which to grow. The company’s strong order intake during Q1 2024 is proof that the company is taking steps in the right direction. However, the board and the shareholders agree that there is a need for additional liquidity in the company in order to carry out the investments the company hopes for and, at the same time, ensure operational operations. The capital coverage guarantee, therefore, creates room for the company to achieve this while we look at future investments, says Greg Dingizian, chairman of the board and owner of Agartha AB.  

In order to be able to implement the convertible elements whereby the Principal Owners’ investments under the Guarantee are converted into share-related instruments in the Company, the Principal Owners will propose to the Annual General Meeting of the Company to decide on the issue of a total of 30,769,231 warrants with a subscription price corresponding to the quota value for the number of shares. The number of warrants has been determined by dividing the Guarantee’s maximum amount by the agreed floor value for conversion amounting to SEK 0.65 per share. In case of a full new subscription with the support of all warrants of series 2024/25, 30,769,231 new shares can be issued, which corresponds to a dilution of approximately 20.13 percent of the total number of shares and votes in the Company. Such a maximum condition would mean that the Principal owners contributed a total of SEK 20 million to the Company as convertible investments which strengthened the Company’s balance sheet and liquidity. The detailed conditions for the convertible investments will be presented before the annual general meeting.