Last day for subscription of units in Clean Industry Solutions Holding Europe AB's (publ) ongoing rights issue
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR IN ANY OTHER JURISDICTION WHERE THE RELEASE, DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE ADDITIONAL REGISTRATION OR OTHER ACTION.
Friday, October 14, 2022, is the last day for subscription in Clean Industry Solutions Holding Europe AB's (publ) ("Clean Industry Solutions" or the "Company") ongoing rights issue of units of approximately SEK 23 million (the "Rights Issue"). The last day of trading in unit rights on Nasdaq First North Growth Market is today, 11 October 2022. Note that some banks and managers have an earlier date for subscription. Shareholders should therefore check with their bank or nominee whether they are using an earlier subscription end date.
The Rights Issue comprises a maximum of 15,313,792 units consisting of shares and warrants of approximately SEK 23 million before issue costs. Each unit consists of one (1) new share and one (1) warrant. The subscription price amounts to SEK 1.50 per unit, which corresponds to SEK 1.50 per share. Upon full exercise of all warrants issued in the Rights Issue, the Company may receive an additional approximately SEK 15.3-45.9 million before issue costs. In connection with the Rights Issue, the Company has received subscription commitments of approximately SEK 2 million and issue guarantees of approximately SEK 12.9 million, corresponding to a total of approximately 65 percent of the Rights Issue.
The proceeds from the Rights Issue are primarily intended to be used to finance the subsidiaries' growth and working capital for new customer projects. The Company also expects that the strengthened financial position, combined with increased market demand, will have a positive impact on discussions and negotiations with current and potential customers.
For complete terms and conditions, as well as other information about the Rights Issue, please refer to the memorandum prepared in connection with the Rights Issue, which is available on Clean Industry Solutions' website: www.cleanindustrysolutions.com.