Reference is made to the stock exchange notices announced on 18 August 2020 regarding the successful placing of a private placement with gross proceeds of NOK 10.5 million (the "Private Placement") and a private placement with gross proceeds of NOK 2.13 million (the "Private Placement II"). In order to reduce the dilutive effect of the Private Placement and the Private Placement II, the Board of Directors of Aqua Bio Technology ASA ("ABT" or the "Company") also decided to initiate a subsequent offering of new shares towards eligible shareholders (the "Subsequent Offering").
The Board of Directors has today resolved share capital increases in connection with the Private Placement II and the Subsequent Offering, as further detailed below.
In connection with the Private Placement II, the Board of Directors has resolved to increase the share capital with NOK 1,065,000 through issuance of 426,000 new shares, each with a par value of NOK 2.50. The subscription price for the new shares is NOK 5 per new share, and the new shares are expected to be delivered to the subscribers on or about 17 September 2020. For further information, please refer to the stock exchange notices from the Company dated 17 and 18 August 2020.
In connection with the Subsequent Offering, the Board of Directors has resolved to increase the share capital with minimum NOK 2.50 and maximum NOK 1,263,000 through issuance of minimum 1 and maximum 505,200 new shares (the "Offer Shares"). Each Offer Share will be offered at a price of NOK 5.
The Subsequent Offering is directed towards the shareholders of the Company as of 17 August 2020, as registered in the VPS on 19 August 2020, except (i) shareholders that were invited to subscribe for Offer Shares in the Private Placement and the Private Placement II, and (ii) shareholders who are resident in a jurisdiction where such offering would be unlawful, or would require any prospectus filing, registration or similar action (the "Eligible Shareholders").
Each Eligible Shareholder will be granted non-transferable subscription rights that, subject to applicable law, provide preferential rights to subscribe for and be allocated Offer Shares. Each Eligible Shareholder will receive 0.17316 subscription right per share registered as held in the VPS as of 19 August 2020. Granted subscription rights will be rounded up to the nearest whole subscription right. Each whole subscription right will give the right to subscribe for one (1) Offer Share.
Subscription without subscription rights will not be permitted in the Subsequent Offering, except that subscribers who participated in the Private Placement and the Private Placement II may subscribe for unsubscribed Offer Shares based on their pro rata subscription of the total number of shares subscribed in the Private Placement and the Private Placement II. Oversubscription will not be allowed in the Subsequent Offering.
The subscription period in the Subsequent Offering will commence on 27 August 2020 at 09.00 hours CEST and expire on 10 September 2020 at 16.30 hours CEST. Further information and subscription documents will be distributed to the Eligible Shareholders in connection with the start of the application period.
For further information, please contact Espen Kvale, CEO, telephone +47 9162 8092.
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 Axess market of the Oslo Stock Exchange.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.