THIS PRESS RELEASE IS NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, WITHIN OR INTO
The board of directors of
The subscription of the Rights Issue is secured corresponding to 100 percent of the maximum amount of the Rights Issue by undertakings the Company has received according to below. The undertakings have been made without any compensation.
Convening notice for the annual general meeting that resolves on the Rights Issue will be published in a separate press release on
Background and reason
The net proceeds from the Rights Issue will be used to take the next step of scaling up the commercialization of
Following the field-testing phase, BoMill InSight(TM) was launched in early 2023, and up until today, the Company has received six orders of a total amount of approximately
"With the proposed share issue, we can continue our commercialization of BoMill InSight(TM). The capitalization will strengthen the company's financial position in the short run and boost our sales and marketing activities, supporting our efforts in the North and South American markets. I am very pleased with the confidence investors show by committing to our rights issue and that they have acknowledged our sustainable and unique offer for grain sorting", says
Preliminary time schedule for the proposed Rights Issue
17 April 2024 : Last day of trading inBoMill shares, including subscription rights.18 April 2024 : First day of trading inBoMill shares, excluding subscription rights.19 April 2024 : Record date for the right to subscription rights.-
25 April -
8 May 2024 : Trading in subscription rights. -
25 April -
14 May 2024 : Subscription period. 25 April 2024 - week 23/24, 2024: Trading with shares as BTA (paid-up subscribed shares), will continue until the Rights Issue is registered with the Swedish Companies Registration Office, which is expected to be week 23/24, 2024.17 May 2024 : Announcement regarding the outcome of the subscription of the Rights Issue.
Summary of the Rights Issue's conditions
- Subscription price
SEK 0.60 per new share. No commission is paid. -
Ten (10) existing shares in
BoMill at the record date19 April 2024 entitle the preferential right to subscribe to three (3) shares by that each existing share entitles to one (1) subscription right, and ten (10) subscription rights provide the preferential right to subscribe three (3) shares. BoMill will receive a maximum amount of approximatelySEK 16.8 million by the Rights Issue before transaction costs, which preliminary is estimated to be approximatelySEK 1.0 million .-
Subscription rights that are not exercised during the subscription period become invalid and lose their value. Subscription rights that are not intended to be used shall be sold at the latest on
8 May 2024 to not expire without value. -
The Rights Issue may increase
BoMill's share capital with a maximum ofSEK 307 091.862 toSEK 1 330 731.402. The number of shares will increase with a maximum number of 27 917 442 shares from 93 058 140 shares to a total maximum of 120 975 582 shares. The maximum dilution of shares and votes is approximately 23%. - Also, those that are not shareholders are entitled to subscribe shares in the Rights Issue. The shares that are subscribed without the support of subscription rights shall be allotted in accordance with the following:
- Firstly, to those who have subscribed shares with the support of subscription rights, regardless of whether they were shareholders on the record day or not, and in the event of oversubscription, in relation to the number of exercised subscription rights in this category, and if this cannot be realized, by draw;
- Secondly, to those who have subscribed shares without the support of subscription rights and not included in item a) above, regardless of whether they were shareholders on the record day or not, in relation to the number of subscribed shares in this category, and if this cannot be realized, by draw; and
- Thirdly, to those who have entered into a commitment regarding subscription and payment of the shares that have not been allotted to and/or paid by other subscribers, pro rata in relation to the maximum amount committed to subscribe or other agreed allocation among them that have entered into such commitment.
The subscription of the proposed Rights Issue is secured corresponding to 100 percent of the maximum amount of the Rights Issue by undertakings from:
- some of the current shareholders that have committed to exercise in full their preferential rights to subscribe shares in the Rights Issue in respect of their current holdings for an amount of approximately
SEK 10.2 million , corresponding to approximately 61% of the maximum amount of the proposed Rights Issue; and -
an external investor has committed to subscribe to such shares that are not subscribed by others for a maximum amount of approximately
SEK 6.6 million , corresponding to approximately 39% of the maximum amount of the proposed Rights Issue.
The undertakings from the current shareholders and the external investor have been made without any compensation. However, the commitments to subscribe are not secured by a bank guarantee, blocked funds, pledging or similar arrangements. Full information about the parties that have entered into the undertakings to subscribe will be provided in the Company's EU growth prospectus.
Prospectus
An EU growth prospectus will be prepared and published no later than the subscription period begins. A press release will be sent when the prospectus is published on
The date of the annual general meeting and the reporting date of Q1 2024 report are brought forward
The board of directors has decided to bring forward the date of the annual general meeting, and the publication of the quarterly report for January -
Issuer agent
Nordic Issuing acts as the issuer agent in connection with the Rights Issue.
This press release contains inside information that
For additional information, visit www.bomill.com or contact:
The company is listed on Nasdaq Stockholm First North Growth Market under the ticker:
Certified Adviser:
For more information about
Important information
The information contained in this announcement relating to the Rights Issue is for background purposes only and does not purport to be full or complete.
The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into
The publication, distribution or release of this press release may, in certain jurisdictions, thus be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction.
The information in this press release does not contain or constitute an offer (or a solicitation of any offer) to acquire, subscribe or otherwise trade in shares or other securities in the Company in any jurisdiction, neither from or with the Company or someone else.
No action has been taken and no measures will be taken to permit a public offering in any jurisdictions other than
This press release is not a prospectus in the meaning of Regulation (EG) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction, The press release neither identifies or claims to identify risks (direct or indirect) that could be associated with an investment in shares or other securities in the Company. Neither does this press release constitute a recommendation concerning any investor's decision regarding the Rights Issue. Each investor or potential investor should conduct its own investigation, analysis and evaluation of the business and information described in this press release and any publicly available information. The price and value of the securities can decrease as well as increase. Achieved results do not provide guidance for future results. The information contained in this announcement relating to the Rights Issue is for background purposes only and does not purport to be full or complete.
A prospectus (the "Prospectus") will be prepared pursuant to the Prospectus Regulation in connection with the Rights Issue and be reviewed and approved by the
This press release constitutes an ADVERTISEMENT in accordance with article 2 k of the Prospectus Regulation.
Within the European Economic Area ("EEA"), no public offering of shares or other securities ("Securities") is made in other countries than
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the
This press release may, in the
Forward-looking statements
This press release may contain certain forward-looking statements that reflect the Company's intentions, assessments, or current expectations about and targets for the Company's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Words such as "aim", "anticipate", "assess", "believe", "calculates", "could", "estimate", "expect", "intend", "may", "might", "plan", "should", or "will" and, in each case, negatives thereof, and other expressions indicating or predicting future developments or trends, and which are not based on historical facts, are intended to identify forward-looking statements.
Forward-looking statements inherently involve both known and unknown risks and uncertainties as they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the actual outcome could differ materially from the forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, the Company gives no assurances that they will materialize or prove to be correct. The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are correct nor does the Company accept any responsibility of any kind for the future accuracy of any opinions expressed in this press release. The readers of the press release should not place undue reliance on the forward-looking statements in this press release.
The information, opinions and forward-looking statements that are expressly or implicitly contained herein refer only as of its date and are subject to change without notice. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release, unless required by law or Nasdaq First North Growth Market's
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