Bli medlem
Bli medlem

Du är här

2015-03-31

Brighter AB : Brighter to undertake rights issue with overallotment issue.

Press Release Stockholm, March 31, 2015

Brighter to undertake rights issue with overallotment issue.

The board of directors of Brighter AB (publ) resolved on March 30, 2015 to
undertake a rights issue of units composed of shares and warrants of
approximately SEK 16.3 million. If the issue is oversubscribed, an
overallotment issue of shares and warrants totaling SEK 3 million will be
undertaken. Upon full exercise of warrants, Brighter can raise additional
capital of approximately SEK 4.8-12 million.

Based on the authorization of the 2014 AGM, the board of directors of Brighter
AB (publ) resolved on March 30, 2015 to undertake a rights issue of units,
composed of shares and warrants, of approximately SEK 16.3 million, with
preemptive rights for existing shareholders (the "Rights Issue"). The Rights
Issue is guaranteed to 80 percent through subscription commitments by
management, the board of directors and existing shareholders and underwriting
commitments. If the Rights Issue is oversubscribed, the board of directors
has also decided to undertake an overallotment issue of units on the same
terms as the Rights Issue, directed at subscribers to units in the Rights
Issue that do not have preemptive rights and did not receive full allotment
(the "Overallotment Issue"). The Overallotment Issue may raise additional
capital of SEK 3 million for the company. Upon full exercise of warrants in
the Rights Issue and the Overallotment Issue, the company can raise
additional capital of approximately SEK 4.8-12 million.

Rationale in summary

The proceeds of the issues will be used to finance the development of the next
generation of Brighter One. With its own 3G connection, Brighter One will, in
addition to the basic functions of sampling, measuring, dosing, and logging,
offer patients, healthcare professionals, payers, and other interested
parties access to valuable data for streamlining and improving care,
primarily of diabetes.

Truls Sjöstedt, Brighter founder and CEO:

"With this capital acquisition, we will be able to concentrate fully on
bringing forward the development of the next-generation Brighter One. This
spring, we have already initiated a number of key partnerships in several
areas including industrial design, cloud services, and design and
development, thus laying the groundwork for an intensive 2015. When we launch
the next-generation Brighter One, Brighter will meet patients' expectations
for e- and mHealth and make it possible for healthcare providers to implement
the new flow of relevant data for treatment of diabetes that Brighter One
will offer."

Main terms and conditions of the Rights Issue

Five existing shares will convey the right to one unit, consisting of four new
shares and one warrant. The subscription price is SEK 4.80 per unit,
corresponding to SEK 1.20 per new share. The subscription period is April
17-May 4, 2015. The issue is limited to 3,391,218 units, through which a
maximum of 13,564,872 shares and 3,391,218 warrants may be issued. Upon full
subscription of the Rights Issue, the company will raise approximately SEK
16.3 million before issue costs, which will increase share capital by SEK
678,243.60. Each warrant will convey the right to subscribe for one new share
in the company at a subscription price equal to 70 percent of the volume
weighted average price, calculated as the average of the daily volume
weighted price paid for the company's stock quoted on First North's official
price list over 20 trading days, commencing on the day the company publishes
its interim report for January-September 2015, or, if the company has not
published any such interim report, on December 23, 2015 (the "Calculation
Period"). The minimum subscription price shall be SEK 1.20 and the maximum
price shall be SEK 3.00. Subscription of shares with exercise of warrants
must take place within a period of three calendar weeks beginning one week
after the end of the Calculation Period but no later than February 2, 2016.
Upon full exercise of all warrants in the Rights Issue, the company will
raise additional capital of approximately SEK 4.1-10.2 million and increase
share capital by SEK 169,560.90. The company's intention is for the warrants
to be listed for trading on First North.

Main terms and conditions of the Overallotment Issue

The board of directors resolved on March 30, 2015 to carry out an issue of
additional units structured in the same manner as the units issued in the
Rights Issue, where each unit consists of four new shares and one warrant
upon the same terms and conditions as the warrants in the Rights Issue. The
subscription price is SEK 4.80 per unit, corresponding to SEK 1.20 per new
share. The subscription period is April 17-May 4, 2015.

The right to subscribe for units in the Overallotment Issue shall, with a
waiver of shareholders' preemptive rights, accrue to investors that have
subscribed for units in the Rights Issue without preemptive rights but were
not allotted all units for which they subscribed. The issue is limited to a
maximum of 625,000 units, through which a maximum of 2,500,000 shares and
625,000 warrants may be issued. Upon full subscription of the Overallotment
Issue, the company will raise approximately SEK 3 million before issue costs,
which will increase share capital by SEK 125,000. Upon full exercise of all
warrants in the Overallotment Issue, the company will raise additional
capital of approximately SEK 750,000-1,875,000 and increase share capital by
SEK 31,250. The company's intention is for the warrants to be listed for
trading on First North.

Shares and share capital

The company's current share capital is SEK 847,804.70, distributed among
16,956,094 shares. The issues may potentially increase share capital by SEK
803,243.60 through the issue of a maximum of 16,064,872 shares. Upon full
exercise of all warrants, share capital may additionally increase by no more
than SEK 200,810.90 through the new issue of a maximum of 4,1016,218 shares.
Combined, the aforementioned board resolutions will result, after the issues
and upon full exercise of the warrants, in the increase of share capital to a
maximum of SEK 1,851,859.20 distributed among a maximum of 37,037,184 shares.

Preliminary key dates for the issues

-----------------------------------------------------------------------------------------------------------------------------------------
| Last day of trading in shares including unit rights: April 10, 2015 |
| First day of trading in shares excluding unit rights: April 13, 2015 |
| Record day Euroclear: April 14, 2015 |
| Subscription period: April 17-May 4, 2015 |
| First day of trading in unit rights: April 17, 2015 |
| Last day of trading in unit rights: April 29, 2015 |
| Trading in PSU: April 17, 2015 through the date the issue has been registered with the Swedish |
| Companies Registration Office (Bolagsverket). |
| Financial advisor: Stockholm Corporate Finance AB |
| Legal advisor: Advokatfirman Westermark Anjou AB |
| Issuing institution: Aktieinvest FK AB |
| Subscription and underwriting commitments: Subscription and underwriting commitments cover 80 percent of the Rights |
| Issue. Subscription commitments from existing shareholders cover |
| approximately 20 percent of the Rights Issue. Subscription commitments from |
| the board of directors and management cover approximately 14 percent of the |
| Rights Issue. |
-----------------------------------------------------------------------------------------------------------------------------------------
About Brighter AB (publ)

By means of its intellectual property Brighter develops innovations for people
who live with a medical condition. We develop the tools that improve the
situation and everyday lives of individuals. Half of Sweden's 4.6 million
households will be "connected" for home care or through mobile units within
five years. Brighter's objective is to simplify, streamline, and strengthen
the relationship between patients and healthcare professionals through the
development of innovations in the area of eHealth. As of 2015, this market is
already valued at USD 160 billion on a global basis.

Important notice

The information in this press release does not constitute an offer to acquire,
subscribe for, or otherwise trade in shares, unit rights, or other securities
in Brighter. The offer to relevant persons to subscribe for shares in
Brighter shall be made only through the offering memorandum and folder
compiled and distributed to shareholders in the company. The offering
memorandum will be publicized and made available, including on the Company's
website, which the Company expects to occur around April 16, 2015. This press
release shall not be publicized, published, or distributed, directly or
indirectly in or to the United States of America, Canada, Australia, Hong
Kong, Japan, New Zealand, Switzerland, Singapore, or South Africa, or any
other jurisdiction in which such an action is, in whole or in part,
restricted by law, or which would require a further prospectus, registration,
or measure other than those required by Swedish law. The information in this
press release shall furthermore not be distributed or reproduced in a manner
which contravenes such restrictions or would entail such requirements.
Failure to comply with the restrictions outlined in this notice may
constitute a violation of applicable securities law.

This press release neither constitutes nor forms part of an offer to sell or
solicitation of an offer to buy or subscribe for securities in the United
States of America. No securities mentioned herein have been registered or
will be registered pursuant to the United States Securities Act of 1933 (the
"Securities Act") or securities law in any United States State or other
United States jurisdiction and sha...

Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.