JONDETECH'S RIGHTS ISSUE HEAVILY OVERSUBSCRIBEDOn 28 August 2020, JonDeTech Sensors AB (publ) ("JonDeTech" or "the Company") published a prospectus for the fully underwritten rights issue of 3,634,560 shares with preferential rights for the Company's existing shareholders, resolved by the extraordinary general meeting on 10 August 2020 (the "Rights Issue"). The Rights Issue, in which the subscription period ended on 15 September 2020, was heavily oversubscribed and no underwriter undertakings will thus need to be utilised. The Rights Issue will provide the Company with approximately MSEK 36.3 before issue costs. About the Rights Issue
Shareholders in JonDeTech per the record date on 28 August 2020, had preferential rights to subscribe for shares in proportion to their prior shareholding. A holding of twenty-five (25) shares per the record date entitled to subscription of four (4) new shares at a subscription price of SEK 10,00. The subscription period in the Rights Issue ended on 15 September 2020.
Result
The Rights Issue was fully underwritten. In total, 3,585,157 shares, corresponding to approximately 98.6 percent of the Rights Issue was subscribed by exercise of subscription rights. Additionally, applications corresponding to 6,186,834 shares have been received for subscription without subscription rights. Thus, a total of 9,771,991 shares have been subscribed for (by exercise of subscription rights as well as without exercise of such), corresponding to 269 percent of the Rights Issue. The Rights Issue will provide the Company with approximately MSEK 36.3 before issue costs.
As a result of the Rights Issue, the number of shares will increase by 3,634,560, and the share capital by SEK 138, 903.920530, amounting to a share capital of SEK 1,007,053.423838 in total distributed on 26,350,560 shares. Shareholders who did not subscribe for shares in the Rights Issue in proportion to their shareholding will have their shareholding diluted by 13.8 %, based on the number of shares in the Company after the Rights Issue.
Notice of allotment
Those who have subscribed for shares without subscription rights will be allocated shares in accordance with the principles set out in the prospectus published on 28 August 2020. Notification of allotment to persons who subscribed for shares without subscription rights will be provided by a sent allotment notice in the form of a settlement note. Those who have subscribed for shares without subscription rights through a nominee will receive notification of allocation in accordance with their respective nominee's procedures.
Advisers
Naventus Corporate Finance is the financial advisor of the Company and Roschier is the legal advisor of the Company in connection with the Rights Issue. For more information, please contact:
Per Lindeberg, CEO JonDeTech, tel: +46 73 870 00 00, e-mail: [email protected]
This information is information that JonDeTech Sensors AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 19:30 CEST on 17 September 2020.
The following documents can be retrieved from beQuoted
2020-09-17-Oversubscribed-preferential-rights-issue ENG.pdf About JonDeTech
JonDeTech is a Swedish company that develops, and markets patented IR sensor technology based on nanotechnology. The company's IR sensors are down to one-tenth as thick as conventional sensors, built in plastic and can be manufactured in high volumes at a low cost, which opens for a variety of applications in, among other things, consumer electronics and mobile phones. The company was founded in 2008 and is listed on Nasdaq First North Growth Market. Redeye is the company's Certified Adviser, +46-8-121 576 90, [email protected], https://www.redeye.se. Read more at www.jondetech.se or see how the IR sensor works at www.youtube.com/watch?v=2vEc3dRsDq8.
Important information
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in the Company in any jurisdiction.
This press release may not be released, published or distributed, directly or indirectly, in or in Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, the United States of America or any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in a manner that contravenes such restrictions or would entail such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws.
The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended ("Securities Act"), or under the securities laws of any state or other jurisdiction in the United States and may not be offered, subscribed, used, pledged, sold, resold, allotted, delivered or transferred, directly or indirectly, in or into the United States absent exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in accordance with securities laws of the relevant state or other jurisdiction in the United States. All offers and sales of securities in connection with any rights offer by JonDeTech will be made, subject to certain limited exceptions, outside of the United States and in reliance on, and in compliance with, Regulation S under the Securities Act. There will be no public offering in the United States.
Within the European Economic Area ("EEA"), no public offering of securities is made in other countries than Sweden. In other member states of the EU, such an offering of securities may only be made in accordance with an applicable exemption in the Prospectus Regulation (EU) 2017/1129.
This press release contains certain forward-looking information that reflects the Company's present view of future events as well as financial and operational development. Words such as "intend", "assess", "expect", "may", "plan", "believe", "estimate" and other expressions entailing indications or predictions of future development or trends, not based on historical facts, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties as it depends on future events and circumstances. Forward-looking information is not a guarantee of future results or development and actual outcomes may differ materially from the statements set forth in the forward-looking information.
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