13.12.2021 00:24:40 CET | Aqua Bio Technology ASA | Inside information
Aqua Bio Technology ASA – completion of private placement
Reference is made to the stock exchange notice by Aqua Bio Technology ASA (the “Company”) on 10 December 2021, regarding a contemplated private placement for gross proceeds of minimum NOK 10 million and maximum NOK 15 million (the “Private Placement”) at a fixed subscription price of NOK 14 per new share (the “Offer Shares”) towards certain existing shareholders and certain new investors.
The board closed the application period in the Private Placement today 12 December 2021 at 2300 CET. The Company is pleased to announce that it has raised NOK 12.89 million through the Private Placement and the Company’s board of Directors (the “Board”) has allocated 920 714 Offer Shares to the investors in the Private Placement. Notifications of allotment of the Offer Shares will be sent to the investors on 13 December 2021.
The Board has formally resolved to issue the Offer Shares under a board authorization granted by the general meeting on 9 June 2021. The payment for the Offer Shares falls due on 17 December 2021. Subject to timely payment for all allocated Offer Shares, the Company expects to deliver the Offer Shares on or about 22 December 2021. The Offer Shares will be tradable from the delivery to the investors.
Following registration of the Private Placement in the Norwegian Register of Business Enterprises, the Company will have 20 623 792 outstanding shares, each with a par value of NOK 2.50.
The net proceeds of the Private Placement will be used for general corporate purposes, launch activities, R&D activities related to the production of Aquabeautine XL, a contemplated rebranding project of the Moana Skincare brand, development of private labels and other business development activities.
The Company has considered the Private Placement in light of the equal treatment principles under the Norwegian Securities Trading Act and under the Oslo Rule Book II for companies listed on Euronext Expand, and is of the opinion that the proposed Private Placement is in compliant with these requirements. The Board has emphasized that the subscription price in the Private Placement is in line with todays closing trading price of the Company’s shares. The Board has also assessed alternative funding methods and considers that such funding methods have a lower degree of expected success, and will be more time- and resource-consuming. Taking into account the above, the Board of Directors is of the opinion that the Private Placement is in the Company’s and the shareholders’ joint interests.
For the reasons set out above, the Board has resolved not to carry out a subsequent offering following the Private Placement.
* * *
For further information, please contact Håvard Lindstrøm, CEO, telephone +47 941 32 288.
Aqua Bio Technology (ABT) is developing and commercializing sustainable biotechnology for use in skin care products. ABT’s cosmetics ingredients are highly effective and they provide the cosmetics industry with natural alternatives to traditional ingredients. ABT is also marketing and distributing natural skin care products developed by partners towards consumers and professional users. ABT’s focus on commercialization and development of natural ingredients and natural skin care products has been, and will continue to be, an important part of the Company’s strategy going forward. Aqua Bio Technology is listed on the Euronext Expand market of the Oslo Stock Exchange.
This information was considered to be inside information pursuant to the EU Market Abuse Regulation, and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Disclosure regulation
This information is subject of the disclosure requirements pursuant to section of 5-12 of the Norwegian Securities Trading Act.
Contacts
Håvard Lindstrøm, 004794132288, hl@aquabiotech.no
About Aqua Bio Technology ASA
Aqua Bio Technology (ABT) is developing and commercializing sustainablebiotechnology for use in skin care products. ABT’s cosmetics ingredients arehighly effective and they provide the cosmetics industry with naturalalternatives to traditional ingredients. ABT is also marketing and distributingnatural skin care products developed by partners towards consumers andprofessional users. Aqua Bio Technology is listed on Euronext Expand.
Attachments
Download announcement as PDF.pdf
