NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG, NEW ZEALAND, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND, SINGAPORE, JAPAN, RUSSIA, BELARUS OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD NOT BE IN COMPLIANCE WITH APPLICABLE LAWS OR REGULATIONS OR WOULD REQUIRE REGISTRATION OR SIMILAR MEASURES. PLEASE SEE ”IMPORTANT INFORMATION” AT THE END OF THE PRESS RELEASE.
The board of directors of Magnasense AB (“Magnasense” or the “Company”) has today, based on the authorisation from the annual general meeting 2024 and in accordance with the press release issued on 1 July 2024, resolved on a directed share issue to Atlas Special Opportunities, LLC (“Atlas”) of a maximum of 6,115,662 shares at a subscription price of SEK 0.484 per share (the “Directed Issue”). The purpose of the Directed Issue and the reason for the deviation from the shareholders’ preferential rights is to fulfil the Company’s commitment to Atlas pursuant to the agreements entered into regarding a loan facility and an amendment of the terms and conditions of outstanding convertible bonds of series 2023/2026 (the “Convertible Bonds”), respectively, which were communicated to the market on 9 April 2024 (the “Financing Agreements”). All shares issued through the Directed Issue have been subscribed for and allocated. In accordance with the loan facility agreement with Atlas, the Company can call for loans in seven (7) tranches (the “Tranches” or each a “Tranche”) in an aggregate nominal amount of SEK 45.00 million before deduction of set-up fee (the “Loan Facility”) and transaction costs. Magnasense has previously called for the issuance of Tranche 1 and 2 in accordance with the press releases issued on 13 May 2024 and on 30 May 2024, respectively. The outstanding Loan Facility amounts to SEK 12.50 million, which means that SEK 32.50 million remains of the Loan Facility for the Company to call on.
La cuestión dirigida
Magnasense has previously announced that the Company has entered into the Financing Agreements and that the Company will carry out the Directed Issue. For more information on the Financing Agreements, readers are referred to the press release dated 9 April 2024 (“AegirBio enters into a conditional agreement on a MSEK 45 loan facility with Atlas Special Opportunities and an agreement to amend the outstanding convertible bonds, subject to EGM approval). In accordance with the press release on 9 April 2024, a transaction fee of SEK 7.00 million is payable to Atlas for the issuance of the Loan Facility, the extension of outstanding Convertible Bonds and the termination of outstanding warrants of series TO4, to be paid by set-off against newly issued shares in Magnasense. As further announced in the press release on 9 April 2024, Atlas has the right to call for conversion of outstanding debt in directed issues of all or part of the nominal amount of the called Tranches, the nominal amount of the outstanding Convertible Bonds and the transaction fee up to and including the respective maturity date.
In view of the above, the board of directors of Magnasense has today resolved on the Directed Issue, of which approximately SEK 2.50 million corresponds to requested conversions and approximately SEK 0.46 million corresponds to part of the outstanding transaction fee. The issue proceeds are intended to be paid in full by Atlas through set-off. As part of the Directed Issue, Convertible Bonds corresponding to SEK 2.5 million will be terminated. After the completion of the Directed Issue and the termination of the Convertible Bonds, SEK 37.50 million of the Convertible Bonds remain and SEK 4.00 million of the transaction fee remains. The purpose of the issue and the reason for the deviation from the shareholders’ preferential rights is to fulfil the Company’s obligations towards Atlas under the Financing Agreements. All shares issued through the Directed Issue have been subscribed for and allocated.
In accordance with the Financing Agreements, the subscription price per share in the Directed Issue has been set at a weighted price of SEK 0.484, corresponding to 100.00 per cent of the lowest daily volume-weighted average price according to Nasdaq First North Growth Market’s price list for the share in the Company during the fifteen (15) trading days preceding each receipt of conversion request, respectively, in relation to the size of each conversion request, respectively. The method for calculating the subscription price in the share issue has, in consultation with a financial advisor and through analysis of the Company’s capital structure and several market factors, been determined through arm’s length negotiations with Atlas. It is the board of directors’ assessment that the subscription price through this procedure reflects current market conditions and demand and that it thereby is market-based.
Consideraciones del Consejo de Administración
Prior to the decision to enter into the Financing Agreements, the Company’s board of directors has, together with a financial advisor, carefully investigated the conditions for a rights issue to raise the necessary capital. The board’s assessment is that the Company currently, cannot meet its’ capital needs in any other way than through the Financing Agreements with Atlas. The board of directors has together with a financial advisor assessed that a rights issue would require significant guarantee commitments from a guarantee syndicate, which has not been deemed possible for the Company to obtain. In addition, a rights issue would probably have been carried out at a significantly lower subscription price than that which Atlas will be able to convert at in accordance with the terms and conditions of the Financing Agreements. The board of directors’ overall assessment is thus that the reasons for entering into the Financing Agreements and subsequently carrying out directed share issues to Atlas in this way outweigh the reasons that justify the main rule of issuing shares with preferential rights for existing shareholders, and that share issues with deviation from the shareholders’ preferential rights in accordance with the Financing Agreements thus are in the interest of the Company and all shareholders.
El mecanismo de préstamo
The Loan Facility consists of seven (7) tranches with a total nominal amount of SEK 45.00 million. Magnasense has previously called for Tranche 1 and 2 corresponding to a total of SEK 12.50 million, which means that SEK 32.50 million remains of the Loan Facility for the Company to call on. Tranches drawn under the Loan Facility are interest-free and mature on 9 April 2027.
Atlas has the right to call for conversion of debt in directed issues of all or part of the nominal amount of the called Tranches and the transaction fee up to and including the maturity date. The minimum amount to convert is SEK 0.50 million. To facilitate the administration of the conversions, the parties have agreed that a new issue under the Loan Facility shall be made when Atlas has called for conversion in an aggregate amount of at least SEK 2.50 million or if the market value of the transaction fee shares is less than SEK 1.00 million. The Company will only announce conversions to the market when Atlas has called for conversions that lead to a new share issue.
The Loan Facility accelerates the Company’s grant-funded RADx® project under the auspices of the National Institutes of Health (“NIH”) aimed at developing a digital multiplex self-testing platform for individuals with disabilities. A successful execution of the Company’s RADx® project will position the Company for potential additional grants from the NIH.
For more information on the Loan Facility, readers are referred to the press release dated 9 April 2024 (“AegirBio enters into a conditional agreement on a MSEK 45 loan facility with Atlas Special Opportunities and an agreement to amend the outstanding convertible bonds, subject to EGM approval”).
Cambio en el capital social, número de acciones y votos y dilución
The Directed Issue entails that the Company’s share capital will increase by no more than SEK 85,619.268 to SEK 590,350.712. The number of shares and votes will increase by no more than 6,115,662 to 42,167,908. Carrying out the Directed Issue entails a dilution of approximately 14.50 per cent for existing shareholders in relation to the total number of shares and votes in the Company.
Para más información, póngase en contacto con
Marco Witteveen, Director General
Email: ir@aegirbio.com
El asesor certificado de la empresa es Eminova Fondkommission AB | info@eminova.se
INFORMACIÓN IMPORTANTE
La divulgación, publicación o distribución de este comunicado de prensa puede, en determinadas jurisdicciones, estar restringida por la ley, por lo que las personas que se encuentren en las jurisdicciones en las que se haya publicado o distribuido este comunicado de prensa deberán informarse sobre dichas restricciones legales y respetarlas. El destinatario de este comunicado de prensa es responsable de utilizar este comunicado de prensa y la información contenida en el mismo de conformidad con las normas aplicables en cada jurisdicción. Este comunicado de prensa no constituye una oferta de venta ni una solicitud de oferta de compra o suscripción de valores emitidos por la empresa en ninguna jurisdicción en la que dicha oferta o solicitud sea ilegal.
Este comunicado de prensa no es un folleto en el sentido del Reglamento (UE) n.º 2017/1129 (el "Reglamento sobre prospectos") y no ha sido aprobada ni revisada por ninguna autoridad reguladora de ninguna jurisdicción. No se elaborará un folleto en relación con la Emisión Dirigida.
Este comunicado de prensa no identifica ni pretende identificar ningún riesgo (directo o indirecto) que pueda estar asociado a una inversión en nuevas acciones. La información contenida en este comunicado de prensa tiene como único propósito describir los antecedentes de la Emisión Dirigida y no pretende ser completa ni exhaustiva.
El presente comunicado de prensa no constituye una oferta o invitación de compra o suscripción de valores en los Estados Unidos. Los valores a los que se hace referencia en el presente documento no pueden venderse en Estados Unidos sin registro o sin una exención de registro aplicable en virtud de la U.S. Securities Act de 1933, en su versión modificada (la "Ley de valores"), o la legislación sobre valores de cualquier estado u otra jurisdicción de los Estados Unidos, y no pueden ser ofrecidos o vendidos en los Estados Unidos sin registro o una exención aplicable de, o en una transacción no sujeta a, los requisitos de registro de la Ley de Valores. No hay intención de registrar ninguno de los valores aquí mencionados en los Estados Unidos ni de realizar una oferta pública de dichos valores en los Estados Unidos. La información contenida en este comunicado de prensa no podrá ser anunciada, publicada, copiada, reproducida o distribuida, directa o indirectamente, en su totalidad o en parte, en o dentro de los Estados Unidos, Canadá, Australia, Hong Kong, Nueva Zelanda, Sudáfrica, Corea del Sur, Suiza, Singapur, Japón, Rusia, Bielorrusia o cualquier otra jurisdicción en la que dicho anuncio, publicación o distribución de esta información sea ilegal o en la que dicha acción esté sujeta a restricciones legales o requiera un registro adicional u otras medidas distintas de las exigidas por la legislación sueca. Las acciones contrarias a esta instrucción pueden constituir una violación de la legislación aplicable en materia de valores.
Declaraciones prospectivas
Este comunicado de prensa contiene declaraciones a futuro que reflejan las intenciones, creencias o expectativas de la Compañía con respecto a los resultados futuros de las operaciones, la situación financiera, la liquidez, el rendimiento, las perspectivas, el crecimiento previsto, las estrategias y oportunidades y los mercados en los que opera la Compañía. Las declaraciones a futuro son declaraciones que no son hechos históricos y pueden identificarse por el uso de palabras como "cree", "espera", "anticipa", "pretende", "estima", "hará", "puede", "prevé", "debería", "podría" y, en cada caso, sus negativos, o expresiones similares. Las afirmaciones de carácter prospectivo contenidas en este comunicado de prensa se basan en diversas suposiciones, muchas de las cuales se basan en supuestos adicionales. Aunque la Sociedad considera que las hipótesis reflejadas en estas declaraciones prospectivas son razonables, no puede garantizarse que se materialicen o que sean exactas. Dado que estas afirmaciones se basan en suposiciones o estimaciones y están sujetas a riesgos e incertidumbres, los resultados reales podrían diferir sustancialmente de los contenidos en las mismas por diversas razones. Tales riesgos, incertidumbres, contingencias y otros factores importantes podrían hacer que los acontecimientos reales difirieran materialmente de las expectativas expresadas o implícitas en este comunicado de prensa por las declaraciones prospectivas. La empresa no garantiza que las suposiciones en las que se basan las declaraciones prospectivas contenidas en este comunicado de prensa sean exactas y cualquier lector de este comunicado de prensa no debe depositar una confianza indebida en las declaraciones prospectivas contenidas en este comunicado de prensa. La información, las opiniones y las afirmaciones de carácter prospectivo expresadas o implícitas en este comunicado de prensa son válidas únicamente a fecha de su publicación y están sujetas a cambios. Ni la Sociedad ni nadie se compromete a revisar, actualizar, confirmar o hacer pública ninguna revisión de las declaraciones prospectivas para reflejar los acontecimientos que se produzcan o las circunstancias que surjan en relación con el contenido de este comunicado de prensa, salvo que así lo exija la ley o las normas del Nasdaq First North Growth Market.
ES 
EN