{"id":9591,"date":"2023-03-13T20:06:51","date_gmt":"2023-03-13T20:06:51","guid":{"rendered":"https:\/\/heliospectra.com\/blog\/mfn_news\/the-board-of-directors-in-heliospectra-resolves-on-a-partially-secured-rights-issue-of-approximately-sek-26-2-million\/"},"modified":"2023-03-13T20:06:51","modified_gmt":"2023-03-13T20:06:51","slug":"the-board-of-directors-in-heliospectra-resolves-on-a-partially-secured-rights-issue-of-approximately-sek-26-2-million","status":"publish","type":"mfn_news","link":"https:\/\/heliospectra.com\/nl\/blog\/mfn_news\/the-board-of-directors-in-heliospectra-resolves-on-a-partially-secured-rights-issue-of-approximately-sek-26-2-million\/","title":{"rendered":"The board of directors in Heliospectra resolves on a partially secured rights issue of approximately SEK 26.2 million"},"content":{"rendered":"
The board of directors in Heliospectra AB (“Heliospectra” or the “Company”) has today resolved to carry out a partially secured rights issue of shares of approximately SEK 26.2 million (the “Rights Issue”). The subscription price has been set to SEK 1.39 per share. Those who on the record date are registered as shareholders in Heliospectra receive one (1) subscription right in the Rights Issue for each share owned on the record date. Seventeen (17) subscription rights grant in its turn the right to subscribe for three (3) newly issued shares in the Rights Issue. The Company has received subscription commitments from the four largest shareholders in the Company, Weland Stål AB, Weland Värdepapper AB, Corespring New Technology AB, and Agartha AB (the ”Main Owners”), corresponding to their pro rata stakes in the Rights Issue, corresponding to a total of approximately SEK 20.1 million, equalling approximately 76.8 percent of the Rights Issue.<\/strong><\/div>\n
[THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEELAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND, RUSSIA, BELARUS, OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL OR DEMAND ADDITIONAL REGISTRATION OR OTHER MEASURES. PLEASE REFER TO “IMPORTANT INFORMATION” IN THE END OF THIS PRESS RELEASE.]<\/span><\/span><\/p>\n Summary<\/strong><\/span><\/span><\/span><\/span><\/p>\n Background and motif<\/strong><\/span><\/span><\/span><\/span><\/p>\n In 2022, Heliospectra shifted its focus and strategy to become a producer of smart LED lighting primarily for the European greenhouse market and through resellers in North America. In line with that strategy, the Company completed several innovation projects throughout the year, including an updated version of the light control system helioCORE™, the wireless connector Adelphi, the company’s new commercial LED lighting platform MITRA, and during the first quarter of 2023 the Company launched the MITRA Flex with a flexible far-red spectrum. The new wireless system solution offers significant benefits to growers, including increased quality, decreased production time, and considerable energy savings. Growers can reduce their energy costs by up to 30% on top of the 35% already saved by switching to LED from old high-pressure sodium (HPS) lights.<\/span><\/span><\/span><\/span><\/p>\n During the first quarter of 2023, the Company has begun to launch and introduce the new smart lighting system and product portfolio on the market. The capital from the rights issue will go towards launching the new system solution on the European market and expanding the company’s sales and application team in Western Europe. In addition, part of the capital will also cover strategic innovation projects such as the further development of the company’s fully controllable lighting platforms ELIXIA and DYNA, which have long been market leaders in the Agtech market.<\/span><\/span><\/span><\/span><\/p>\n The Rights Issue<\/strong><\/span><\/span><\/span><\/span><\/p>\n Those who on the record date, 21 March 2023, are registered in the share register of Heliospectra as shareholders will receive one (1) subscription right for each share held in the Company. Seventeen (17) subscription rights entitle the holder to subscription of three (3) new shares. In addition, investors are offered to subscribe for shares without subscription rights. The subscription price is SEK 1.39 per share, which means that Heliospectra will receive proceeds of approximately SEK 26.2 million, provided that the Rights Issue is fully subscribed.<\/span><\/span><\/span><\/span><\/p>\n Provided that the Rights Issue is fully subscribed, the number of shares in Heliospectra will increase by 18,802,848 from 106,549,474 to 125,352,322, and the share capital will increase by a maximum of SEK 1,880,284.80, from SEK 10,654,947.40 to SEK 12,535,232.20. Shareholders who choose not to participate in the Rights Issue will have their ownership diluted by up to 15 percent through the Rights Issue (based on the total outstanding shares after the Rights Issue). These shareholders however can compensate themselves financially for the dilution effect by selling their subscription rights received.<\/span><\/span><\/span><\/span><\/p>\n Subscription- and guarantee commitments<\/strong><\/span><\/span><\/span><\/span><\/p>\n Heliospectra has received subscription commitments from Weland Stål AB, Weland Värdepapper AB, Corespring New Technology AB, and Agartha AB, amounting to a total of approximately SEK 20.1 million, corresponding to approximately 76.8 percent of the Rights Issue. The commitments are equal to the Main Owners’ pro rata stake in the Rights Issue. The subscription commitments are not secured by bank guarantees, escrow funds, pledges, or similar arrangements. No remuneration is paid for the subscription commitments. <\/span><\/span><\/span><\/span><\/p>\n Indicative time plan<\/strong><\/span><\/span><\/span><\/span><\/p>\n The following time plan for the Rights Issue is preliminary and subject to change.<\/span><\/span><\/span><\/span><\/p>\n \nAdvisers<\/strong><\/span><\/span><\/span><\/span><\/p>\n MAQS Advokatbyrå is legal adviser to the Company in connection with the Rights Issue and Nordic Issuing AB acts as issue institute.<\/span><\/span><\/span><\/span><\/p>\n\n
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\n Last day of trading in shares including right to receive subscription rights<\/span><\/span><\/span><\/span><\/span><\/td>\n 17 March 2023<\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n \n First day of trading in shares excluding right to receive subscription rights<\/span><\/span><\/span><\/span><\/span><\/td>\n 20 March 2023<\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n \n Record date in the Rights Issue<\/span><\/span><\/span><\/span><\/span><\/td>\n 21 March 2023<\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n \n Trading in subscription rights<\/span><\/span><\/span><\/span><\/span><\/td>\n 23 March – 3 April 2023<\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n \n Publication of information memorandum <\/span><\/span><\/span><\/span><\/span><\/td>\n No later than 22 March 2023<\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n \n Subscription period<\/span><\/span><\/span><\/span><\/span><\/td>\n 23 March – 6 April 2023<\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n \n Trading in paid subscribed shares (BTAs)<\/span><\/span><\/span><\/span><\/span><\/td>\n 23 March 2023 until registration of the Rights Issue<\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n \n Announcement of the preliminary outcome in the Rights Issue<\/span><\/span><\/span><\/span><\/span><\/td>\n Planned to 12 April 2023<\/span><\/span><\/span><\/span><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n