SciBase Holding announces that the secured new share issue with preferential rights for existing shareholders has been completed and will provide the company with approximately SEK 75 million before deduction of transaction costs.
A total of approximately SEK 39.2 million, corresponding to 46.1 percent of the full offering was subscribed for. Approximately SEK 36.6 million, corresponding to 43.0 percent of the offering, was subscribed for by way of subscription rights and approximately SEK 2.5 million, corresponding to 3.0 percent of the offering, was subscribed for without exercise of subscription rights. The remaining part of the secured part of the offering of SEK 75 million, corresponding to SEK 35.8 million or 42.0 percent of the total offering amount of SEK 85 million, was allocated to guarantors.
In total, the Offering will provide SciBase with approximately SEK 65 million after deduction of transaction costs. The number of shares will increase from 8,284,768 to 16,618,101 shares when the new shares have been registered with the Swedish Companies Registration Office. When such registration has been made, paid subscribed shares (Sw. betalda tecknade aktier) will be converted into common shares. The preliminary record date for such conversion is 28 December 2017 whereby the paid subscribed shares will be converted into new shares on or about 2 January 2018. Trading in the new shares on Nasdaq First North is expected to start on the same day.
“We are very pleased to finalise the rights issue and move forward with full focus on building the business. As outlined in our strategic plan, there are a number of exciting possibilities ahead for SciBase. Securing this financing will enable us to better address those opportunities, and the team heads into next year full of energy and focused on driving sales growth,” said SciBase’s CEO Simon Grant.