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2021-10-27

Crunchfish's rights issue over-subscribed

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, 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 for the rights issue in Crunchfish AB (publ) ("Crunchfish" or the "Company") was completed on October 25, 2021 and the outcome shows that the rights issue was subscribed to approximately 131 percent. The rights issue, which was covered by subscription and guarantee commitments corresponding to 100 percent, was subscribed to approximately 72 percent with the support of unit rights and approximately 59 percent without the support of unit rights. The guarantee commitments have therefore not been utilized. The rights issue provides the Company with approximately SEK 64 million before deduction of issue costs of approximately SEK 5 million. Upon full exercise of all warrants series TO9, the Company may be provided with an additional capital injection of up to approximately SEK 64 million after the exercise period for the warrants that runs from and including December 5, 2022 to and including December 19, 2022.

Allotment of units, consisting of three (3) shares and two (2) warrant series TO9, subscribed for without the support of unit rights has been granted in accordance with the principles set out in the EU growth prospectus drawn up in connection with the rights issue and published on October 6, 2021 (the "Prospectus"). Notice of allotment of units subscribed for without the support of unit rights will be sent within short to those who have been allotted units. The units must be paid for in accordance with the settlement note. Investors with custodian accounts will receive notification of allotment in accordance with each account holding bank's routines.

Through the rights issue, the number of shares in the Company will increase with 2,577,108 shares, from 28,348,190 shares to 30,925,298 shares, and the share capital will increase by SEK 118,546.968, from SEK 1,304,016.740 to SEK 1,422,563.708. In the event that all warrants are also fully exercised for subscription of new shares in the Company, the number of shares in the Company will increase with an additional 1,718,072 shares to a total of 32,643,370 shares and the share capital will increase by an additional SEK 79,031.312 to SEK 1,501,595.020. One (1) warrant series TO9 entitle the right to subscribe for one (1) new share in the Company, during the period from and including December 5, 2022 to and including December 19, 2022 against cash payment where the subscription price is set at 70 percent of the volume-weighted average price for the Company's share on Nasdaq First North Growth Market during the period from and including November 16, 2022, to and including November 30, 2022, however, not more than SEK 37.50 and not less than the quota value of SEK 0.046. The warrants are intended to be admitted to trading on Nasdaq First North after final registration of the Rights Issue with the Swedish Companies Registration Office.

Trading in paid subscribed units (CFISH BTU) takes place on Nasdaq First North Growth Market until the conversion of BTU into shares and warrants after the rights issue has been registered with the Swedish Companies Registration Office (Sw. Bolagsverket). This registration is expected to take place around week 46, 2021.

Financial and legal advisors
Västra Hamnen Corporate Finance AB is financial advisor and Setterwalls Advokatbyrå AB is legal advisor to Crunchfish in connection with the Rights Issue.

For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
joachim.samuelsson@crunchfish.com

Erik Berggren, IR Manager
+46 726 011 673
erik.berggren@crunchfish.com

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se.Telephone +46 40 200 250.

This information is such information as Crunchfish AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 11:00 CEST on October 27, 2021.

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