ChromoGenics issue of new shares oversubscribed - brings in 117.3 MSEK and more than 2 000 new shareholders

Regulatory information
  • 2017-03-03
  • Press release
ChromoGenics AB brings in 117.3 MSEK and more than 2 000 new shareholders through a now completed issue of new shares in combination with the company’s plan to list at Nasdaq First North Stockholm March 23rd 2017. 

The issue of new shares in ChromoGenics has been well received in the market and the board has decided to allocate about 119 MSEK, of which 117.3 MSEK correspond to the basic offer that will be added to ChromoGenics, before deduction of issue expenses and settlements of shareholder loans and guarantee fees. Excess amounts may be subject to normal market stabilization and / or involve the use of over-allotment option. No allocation has thus been made to the consortium which guaranteed issue up to a 90 percent subscription rate.

"We are extremely pleased that so many have shown interest to subscribe for shares in our company. It is positive that the dynamic glass creates such a great interest both commercially and from an environmental and sustainability perspective," says Anders Brännström, Chairman of ChromoGenics.

"It feels fantastic to launch the next phase of ChromoGenics development, both the public and the commercial phase. We will create value for both customers and shareholders through the full-scale launch of our dynamic glass that makes buildings more attractive by saving energy and significantly increasing indoor comfort, "says Thomas Almesjö, CEO of ChromoGenics.

The number of outstanding shares in ChromoGenics will increase by the implementation of the basic offer from 9 414 326 to 23 214 326. A possible extension of the Offer by any exercise of the Over-Allotment Option will be announced through a press release at a later date.

Payment for the Units shall be made according to instructions on the contract note, planned for March 8, 2017. Shares and warrants will be delivered to the respective securities accounts when these are registered by the Swedish Companies Registration Office (Bolagsverket), which is expected to occur on or about March 17, 2017. Trading in the shares and warrants is planned to commence at March 23, 2017, provided an approved listing application.

The terms of the warrants is that four warrants entitle the holder to subscribe for one new share in ChromoGenics during the period 1-31 May 2018 at a price of 10.20 SEK. Upon exercise of the warrants under the basic offer, ChromoGenics will bring in approximately 35.2 MSEK through the issuance of an additional 3 450 000 shares, representing a dilution of a maximum of 12.9 percent.

ChromoGenics has appointed G&W Fondkommission as Certified Adviser for the planned listing on First North at NASDAQ Stockholm.
G&W Fondkommission is the financial advisor to ChromoGenics in connection with the transaction.

This information is such that ChromoGenics AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 08:30 CET on March 3, 2017.

Every care has been taken in the translation of this interim report. In the event of discrepancies, the Swedish original will supersede the English translation.

Thomas Almesjö, CEO
Susanne Andersson, CFO & Head of Communication
Tel: +46 18 430 0430

About ChromoGenics
ChromoGenics is a leader in dynamic glass with controllable heat- and light transmission. The company’s unique electrochromic technology ConverLight™, provides sustainable solar control with increased indoor comfort and energy efficiency. In 2016 the company started sales and deliveries to real estate projects in Scandinavia.

ChromoGenics is located in Uppsala and the technology is derived from the world leading research center at Ångström Laboratory at Uppsala University. The company has about 20 employees and the main owners are K-Svets Venture AB and New Energy Solutions II K/S. The plant has been partly financed by a conditional loan from the Swedish Energy Agency.