Smoltek receives 22.4 million through a rights issue

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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