Regulatory

Alligator announces preliminary outcome of rights issue

[mfn_before_post]

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, BELARUS, CANADA, HONG KONG, JAPAN, NEW ZEALAND, RUSSIA, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURE.

The subscription period in Alligator Bioscience AB (publ)’s (“Alligator” or the “Company”) rights issue of units (the “Rights Issue”) is completed today, 12 May 2023. The preliminary outcome shows that the Rights Issue has been subscribed to approximately 80 per cent. Additionally, approximately 11 per cent will be subscribed by the guarantors. Through the Rights Issue, Alligator will receive approximately SEK 181 million before deduction of issue costs.

Preliminary outcome
The Rights Issue comprised a maximum of 441,169,756 units. The preliminary outcome shows that 350,586,508 units, corresponding to approximately 79.5 per cent of the Rights issue, have been subscribed for by exercise of unit rights. In addition, applications for subscription of 3,513,545 units without the exercise of unit rights, corresponding to approximately 0.8 per cent of the Rights Issue, have been received. Thus, 354,100,053 units, corresponding to approximately 80.3 per cent of the Rights Issue, has been subscribed for with and without the exercise of unit rights. Therefore, the issue guarantors are allocated approximately 11.1 per cent of the Rights Issue, whereby the Rights Issue is subscribed to a total of approximately 91.3 per cent and Alligator is therefore provided with approximately 181 MSEK before issue costs.

Notification regarding allocation
Allocation of units will be made in accordance with the allocation principles described in the prospectus that was published in connection with the Rights Issue (the “Prospectus”). A notification regarding allocation of units subscribed for without the exercise of unit rights will be made by post of a settlement note to each subscriber. Allocated units subscribed for without the exercise of unit rights shall be paid for in accordance with the instructions in the settlement note.

Trading in BTU
The final outcome of the Rights Issue is expected to be announced on 17 May 2023. Trading in BTU (Sw. betald tecknad unit) is currently taking place at Nasdaq Stockholm and will cease when the Rights Issue has been registered by the Swedish Companies Registration Office, which is expected to take place around week 21, 2023. BTUs will then be converted to ordinary shares and warrants series TO 6.

Guarantee Commitments
In connection with the Rights Issue, the Company has entered into agreements on guarantee commitments. For the guarantee commitments, a commission is paid, either in cash or in the form of newly issued ordinary shares in the Company. The subscription price for any shares issued to guarantors has been set to SEK 0.50, corresponding to 90 per cent of the volume-weighted average share price (VWAP) for the Company’s share on Nasdaq Stockholm during the subscription period in the Rights Issue (i.e. during the period 28 April – 12 May 2023). In case all guarantors would choose to receive guarantee commission in shares, a total of a maximum of 26,617,000 new ordinary shares would be issued as guarantee commission. Guarantors who wish to receive guarantee compensation in the form of newly issued ordinary shares in the Company shall notify the Company no later than 16 May 2023.

Advisers
DNB Markets, a part of DNB Bank ASA, Sweden Branch and Redeye AB act as Joint Global Coordinators in connection with the Rights Issue. Setterwalls Advokatbyrå AB acts as legal adviser to Alligator in connection with the Rights Issue. Aktieinvest FK AB acts as the issuing agent in connection with the Rights Issue.

[mfn_after_post]

Updated 2023-05-15