Karolinska Development AB announces preliminary outcome in rights issue

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Karolinska Development AB announces preliminary outcome in rights issue

The preliminary outcome of the rights issue with a subscription period that expired on February 2, 2022 (the "Rights Issue") in Karolinska Development AB ("Karolinska Development" or "the Company"), shows that the Rights Issue was subscribed to approximately 77 percent.

The preliminary outcome shows that 91 438 102 shares, corresponding to approximately 74.5 percent of the shares in the Rights Issue, were subscribed for with support of subscription rights. In addition, notifications have been received to subscribe for 2 974 083 shares without support of subscription rights, corresponding to approximately 2.4 percent of the shares in the Rights Issue. The rights issue was thus subscribed for at approximately 76.9 percent.

Through the Rights Issue, Karolinska Development will receive approximately SEK 378 million before deductions for transaction costs and set-off of loans. Through the Rights Issue, Karolinska Development's share capital will increase by SEK 944,122, from SEK 1,756,654 to SEK 2,700,776, and the total number of shares will increase by 94,412,185. Following the Rights Issue, the number of shares in Karolinska Development will amount to 270,077,594.

"I would like to thank all existing shareholders who have participated in the rights issue for the continued support, and warmly welcome new shareholders, including Swedbank Robur Microcap fund and Nyenburgh Holding. The issue provides a strong strengthening of the Company's balance sheet while enabling us to continue investing and developing existing portfolio companies as well as investments in new attractive companies.” says Viktor Drvota, CEO at Karolinska Development.

Those who have subscribed for shares without support of subscription rights will be allocated shares in accordance with the principles stated in the prospectus published by the Company on January 14, 2022. In the event of an allocation, the settlement note is expected to be sent out around 7 February 2022. Subscribed and allocated shares must be paid for in cash in accordance with the instructions on the settlement note. Nominee-registered shareholders will be notified of the allocation in accordance with the nominee's procedures. Only those who receive allocation will be notified. The definitive outcome of the Rights Issue is expected to be announced on February 7, 2022.

Advisors

In connection with the rights issue, Karolinska Development has appointed Erik Penser Bank as financial advisor, and Cirio Advokatbyrå AB as legal advisor.

For additional information, please contact:
Viktor Drvota, VD Karolinska Development
E-post: viktor.drvota@karolinskadevelopment.com

This information is information that Karolinska Development is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-02-04 14:00 CEST.

Karolinska Development AB in brief

Karolinska Development is an investment company that offers investors an opportunity to take part in the value development of several Nordic life science companies. The Company focuses on identifying medical innovations and invests to create, and develop, companies that further develop such innovations into differentiated commercial products, which can make a difference to patients’ lives and generate an attractive return for shareholders.

IMPORTANT INFORMATION

The information in this press release does not constitute an offer to acquire, subscribe for or otherwise trade with shares, paid subscribed share, subscription rights or other securities in Karolinska Development. No action has been taken, nor will any actions be taken, to permit an offer to the public in any other jurisdiction than Sweden.

The information in this press release may not be published or distributed, directly or indirectly, within or into the United States of America (including its territories and possessions, any state of the United States and the District of Columbia, the "USA”), Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa or South Korea or any jurisdiction where doing so might be unlawful, subject to legal restrictions or require other actions than the ones prescribed under Swedish law. Actions in violation of these instructions may constitute a breach of applicable securities law. This press release does not constitute an offer of invitation to acquire or subscribe for shares or other securities in the USA. No shares, paid subscribed share, subscription rights or other securities issued by the Company (the "Securities”) have been, nor will they be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act”) or the securities laws in any other state or jurisdiction in the USA and no Securities may be offered, subscribed, used, pledged, sold, retailed, delivered or transferred, directly or indirectly, in or into the USA other than pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the USA. The Securities have not been and will not be approved or registered by the Securities and Exchange Commission, any state securities authority or other authority in the USA. No such authority has assessed or made any statements about the Rights Issue or the accuracy or reliability of the prospectus. To assert the contrary is a criminal act in the USA.

This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129 (the "Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction. In any EEA Member State, other than Sweden, this communication is only addressed to and is only directed at "qualified investors” in that Member State within the meaning of the Prospectus Regulation.

In the United Kingdom, this document and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, "qualified investors” within the meaning of the Prospectus Regulation who are (i) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order”); or (ii) "high net worth entities” falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "Relevant Persons”). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, Relevant Persons. Persons who are not Relevant Persons should not take any action on the basis of this announcement and should not act or rely on it.

Attachment

• Prelimina¨rt emissionsutfall - KD (ENG)