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SERSTECH AB: Rights issue oversubscribed

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On May 21, 2021, the subscription period ended in Serstech AB´s (“Serstech”) rights issue. The rights issue was subscribed for a total of approx. SEK 26.9 million (excl. underwriting commitments), corresponding to a subscription rate of approx. 110 percent. Through the rights issue, a total of 12,572,412 shares will be issued and Serstech will be provided approx. SEK 24.5 million before issue costs. Settlement notes are expected to be sent out on May 26, 2021.

Subscription and allotment in the rights issue

The rights issue was subscribed to 26,878,004.40 SEK excluding underwriting commitments, corresponding to a subscription rate of approximately 110 percent. 12,572,412 new shares are issued and Serstech is thus provided approximately SEK 24.5 million before issue costs, which are estimated to amount to approximately SEK 2.25 million. 10,749,099 shares, corresponding to approximately 85.5 percent of the subscribed issue volume, are subscribed by shareholders with the support of subscription rights. Due to the high subscription rate, underwriting commitments are not activated. Settlement notes are expected to be sent out on May 26, 2021. Subscribers who are not allocated shares will not receive settlement notes.

Number of shares and share capital

When the rights issue has been registered with the Swedish Companies Registration Office, the number of shares in Serstech will amount to 83,816,085 shares and the share capital will amount to SEK 9,429,309.

Trading in BTA (Paid-up for shares)

Trading in BTA will take place on Nasdaq First North Growth Market until the Swedish Companies Registration Office has registered the rights issue. This registration is expected to take place in the beginning of June 2021.

For further information, please contact:

Stefan Sandor,
CEO, Serstech AB
Phone: +46 739 606067
Email: ss@serstech.com

Thomas Pileby,
Chairman of the Board, Serstech AB
Phone: +46 702 072643
Email: tp@serstech.com

or visit: www.serstech.com

This is information that Serstech 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 above at 8:00 CET on May 26, 2021.

Certified advisor to Serstech is Svensk Kapitalmarknadsgranskning AB (SKMG), phone: +46 11 323 07 32, e-mail: ca@skmg.se.

About Serstech
Serstech delivers solutions for chemical identification and has customers around the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organizations and first responders. The solutions and technology are however not limited to security applications and potentially any industry using chemicals of some kind could be addressed by Serstech’s solution. Serstech’s head office is in Sweden and all production is done in Sweden.

Serstech is traded at Nasdaq First North Growth Market and more information about the company can be found at www.serstech.com.


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