Right Issue 2023
Rights Issue 2023
The Board of Directors in SaltX Technology Holding AB (publ) (“SaltX” or the “Company”) has, based on the authorisation from the Annual General Meeting on 25 April 2023, resolved on a new issue of class B shares of approximately SEK 69 million, before deductions of costs attributable with the share issue, with preferential rights for existing shareholders (the “Rights Issue”). The Rights Issue is covered to approximately 87 percent by subscription undertakings and guarantee commitments. The primary purpose of the Rights Issue is to strengthen SaltX’s cash position for continued development and marketing of the Company’s technology for electrification of high-temperature processes.
Summary of the Rights Issue
- The Rights Issue is carried out primarily for the purpose of strengthening SaltX’s cash position for continued development and marketing of the Company’s technology for electrification of high-temperature processes.
- Upon full subscription of the Rights Issue, the Company receives approximately SEK 69.0 million before deductions of costs attributable with the Rights Issue, which are expected to amount to approximately SEK 5.3 million.
- The subscription price in the Rights Issue is SEK 1.90 per share.
- Those who, on the record date on 7 September 2023, are shareholders in SaltX, will have preferential rights to subscribe for new shares in the Rights Issue. The last day of trading in SaltX’s shares including the right to receive subscription rights in the Rights Issue is 5 September 2023.
- The Rights Issue comprises a maximum of 36,330,699 class B shares.
- One (1) existing share in SaltX entitle to one (1) subscription right. Ten (10) subscription rights entitle to subscription of three (3) newly issued shares in the Rights Issue.
- The subscription period runs from and including 11 September 2023 up to and including 25 September 2023.
- The Company has received subscription undertakings totalling approximately SEK 21.4 million, corresponding to approximately 31.0 percent of the Rights Issue, from the Company’s two largest shareholders, Industrifonden and SMA Mineral AB.
- The Company has furthermore received guarantee commitments totalling approximately SEK 38.6 million from Industrifonden, SMA Mineral AB and Knil AB (Martin Julander), corresponding to approximately 55.9 percent of the Rights Issue. The Rights Issue is thus covered to approximately 86.9 percent by subscription undertakings and guarantee commitments, corresponding in total to approximately SEK 60.0 million.
Press releases
SaltX resolves on a rights issue of approximately SEK 69 million
SaltX publishes prospectus in connection with the rights issue
Documents
Instruction for subscription (Swedish)
Subscription
Link to Nordic Issuings website
Preliminary timetable for the Rights Issue
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Last day for trading in the Company’s share incl. subscription rights |
5 September 2023 |
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First day for trading in the Company’s share excl. subscription rights |
6 September 2023 |
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Record date for the Rights Issue. Shareholders registered in the share register on this day will receive subscription rights which entail the right to participate in the Rights Issue |
7 September 2023 |
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Expected day for publication of prospectus |
7 September 2023 |
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Trading in subscription rights |
11 September – 20 September 2023 |
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Subscription period |
11 September – 25 September 2023 |
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Trading in paid subscribed shares (BTA) |
11 September – 9 October 2023 |
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Announcement of the final outcome of the Rights Issue |
26 September 2023 |