Rights Issue 2023

Summary of the Rights Issue:

• Upon full subscription and payment of the Rights Issue, Ovzon will receive issue proceeds of approximately SEK 250 million before deduction of costs attributable to the Rights Issue.
• A number of existing shareholders, including Bure Equity AB, Investment AB Öresund, Grignolino AB, Handelsbanken Fonder, Fourth AP-fund[1] and Per Wahlberg, as well as members of the Board of Directors and management (including CEO Per Norén), have undertaken to subscribe for shares representing approximately 60.4 percent of the Rights Issue. In addition, a number of the Company’s existing shareholders, including Bure Equity AB, Investment AB Öresund, Grignolino AB, Per Wahlberg and CEO Per Norén have entered into guarantee commitments corresponding to approximately 19.6 percent of the Rights Issue. The Rights Issue is thus covered by subscription undertakings and guarantee commitments jointly corresponding to approximately 80 percent of the Rights Issue.
• The Board of Director’s resolution on the Rights Issue is conditional upon the approval by the EGM intended to be held on 15 November 2023. Notice to the EGM will be published through a separate press release.
• The final terms of the Rights Issue, including the subscription price, the increase in share capital and the number of shares that can be issued, are expected to be announced on or around 13 November 2023.
• Provided that the Rights Issue is approved by the extraordinary general meeting, which is planned to be held on 15 November 2023, the record date for the Rights Issue is expected to be 20 November 2023 and the subscription period is expected to run from 22 November 2023 until 6 December 2023.

The net proceeds from the Rights Issue, which are expected to amount to approximately SEK 250 million, are mainly intended to be used for the following:

• Financing the Company’s operations during 2024 and 2025, taking into account the revised outlook for 2023 (approximately 70 percent).
• Strengthen the Company’s working capital (approximately 20 percent).
• Estimated additional costs for the finalization of Ovzon 3 (approximately 10 percent).

Preliminary timetable for the Rights Issue: