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Acarix announce final outcome in rights issue

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Press release
Malmö, December 20, 2021

Acarix announce final outcome in rights issue

Acarix AB ("Acarix" or the "Company") has completed the new share issue of a maximum of 105 784 311 shares with preferential rights for the Company's existing shareholders, which was resolved by the extra general meeting on 23 November 2021 (the "Rights Issue"). Acarix today announces the final outcome of the Rights Issue, which shows that a total of 82 638 585 shares have been subscribed for in the rights issue, which corresponds to approximately 78 percent of the Rights Issue. The remaining 23 145 492 shares, approximately 21,9 percent of the Rights Issue, have been subscribed for through guarantee commitments.

The subscription period in the Rights Issue ran from 1 December 2021 to 15 December 2021. The final outcome of the Rights Issue shows that 76 675 931 shares were subscribed for by exercise of subscription rights, which corresponds to approximately 72,5 percent of the Rights Issue. In addition, the Company has received applications to subscribe for 5 962 654 shares without exercise of subscription rights, which corresponds to approximately 5,6 percent of the Rights Issue. Thus, a total of 82 638 585 shares have been subscribed for in the Rights Issue, which corresponds to approximately 78,1 percent of the Rights Issue. Additionally, 7 277 881 shares, corresponding to approximately 6,9 percent of the Rights Issue, is subscribed for by guarantors that have provided so-called bottom guarantees, and 15 867 611 shares, corresponding to approximately 15 percent of the Rights Issue, is subscribed for by guarantors that have provided so-called top guarantees.

Notice of allotment

Those who have subscribed for shares without exercise of subscription rights will be allotted shares in accordance with the principles for allotment set out in the prospectus which has been prepared for purposes of the Rights Issue. Notice of potential allotment of shares subscribed for without exercise of subscription rights will be provided through the distribution of a settlement note. Payment shall be made no later than three (3) banking days following issuance of the settlement note. Those who have not been allotted shares will not receive any notification. If payment is not made at the right time, the shares may be transferred to another party. Those who subscribe for shares without preferential rights through its nominee will receive notice of allotment in accordance with the nominee's procedures.

Number of shares, votes, share capital and dilution

Through the Rights Issue, Acarix share capital will increase by SEK 1,057,840.77 to SEK 2,468,295.14. The total number of shares and votes will increase by 105,784,077, from 141,045,437 to 246,829,514 shares and votes. For existing shareholders who did not subscribe for their pro rata share of the Rights Issue, a dilution of approximately 42.86 percent of the total number of shares and votes in the Company following the rights issue will arise. On or around seven days following the registration of the rights issue with the Swedish Companies Registration office, paid subscribed shares (BTA) will be converted into new shares without any specific notice from Euroclear Sweden. The new shares will be admitted to trading in connection with the BTAs conversion to shares, which is expected to take place around week 2, 2022.

Advisers

Redeye AB is acting as financial adviser and Baker McKenzie is acting as legal adviser to Acarix in connection with the Rights Issue. Hagberg & Aneborn Fondkommission AB is acting as issuing agent.

Contact person for more information

Per Persson, CEO, E-mail: per.persson@acarix.com, Phone: +46 73 600 59 90

About Acarix

Acarix is a Swedish medical device company that innovates solutions for rapid AI-based rule out of Coronary Artery Disease (CAD). The CE approved and FDA DeNovo cleared Acarix CADScor® system is intended for patients experiencing chest pain with suspected CAD and designed to help reduce millions of unnecessary, invasive and costly diagnostic procedures. The CADScor system calculates a patient-specific CAD-score non-invasively in less than 10 minutes with 97% confidence. Acarix is listed on the Nasdaq First North Premier Growth Market (ticker: ACARIX). Redeye AB (+46 (0)8 121 576 90, certifiedadviser@redeye.se) is Certified Adviser of Acarix. For more information, please visit www.acarix.com.

Important information

The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction.

This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Acarix in any jurisdiction, neither from Acarix nor from someone else. This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (the “Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction. A prospectus, corresponding to an EU Growth Prospectus regarding the Rights Issue described in this press release, has been approved by the Swedish Financial Supervisory Authority ("SFSA") (Sw. Finansinspektionen). The Prospectus has been published by the Company on the Company's web page. The SFSA only approves the prospectus as meeting the standards of completeness, comprehensibility and consistency imposed by the Prospectus Regulation.

This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the Company. The information contained in this announcement is for purposes of announcing the outcome of the Rights Issue only, and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness.

Redeye is acting for Acarix in connection with the Offering and no one else and will not be responsible to anyone other than Acarix for providing the protections afforded to its clients nor for giving advice in relation to the Offering or any other matter referred to herein.

This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into the Unites States, Australia, Canada, Hong Kong, Japan, New Zeeland, Singapore, South Africa or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.

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” 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 press release and should not act or rely on it.

Forward looking statements

This press release contains forward-looking statements that reflect the Company's intentions, beliefs, or current expectations about and targets for the Company's and the group's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company and the group operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their negative, or similar expressions. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurances that they will materialize or prove to be correct. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release, unless it is required by law or Nasdaq First North Growth Market rule book for issuers.

Information to distributors

Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended (“MiFID II”); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the “MiFID II Product Governance Requirements”), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any “manufacturer” (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares in Acarix have been subject to a product approval process, which has determined that such shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the “Target Market Assessment”).

Notwithstanding the Target Market Assessment, Distributors should note that: the price of the shares in Acarix may decline and investors could lose all or part of their investment; the shares in Acarix offer no guaranteed income and no capital protection; and an investment in the shares in Acarix is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Offering. For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares in Acarix. Each distributor is responsible for undertaking its own target market assessment in respect of the shares in Acarix and determining appropriate distribution channels.

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