The subscription price in the Rights Issue was SEK 0.20 per share. The Company has received the final outcome of the Rights Issue, which is in line with the preliminary results, which concludes that 169,166,856 shares, corresponding to approximately 24.6 percent of the Rights Issue, have been subscribed for with the support of subscription rights.

Additionally, 4,672,411 shares, corresponding to approximately 0.7 percent of the Rights Issue, have been subscribed for without the support of subscription rights. In aggregate, the subscriptions with the support of subscription rights and the applications for subscription without the support of subscription rights correspond to approximately 25.3 percent of the Rights Issue. Hence, guarantee commitments of 376,160,733 shares, corresponding to approximately 54.7 percent of the Rights Issue, will be utilized.

The Rights Issue will provide the Company with proceeds of approximately SEK 110 million before deduction of costs related to the Rights Issue. Out of the gross proceeds, approximately SEK 41 million is obtained through set-off against part of the Company’s debt under the bridge financing which was secured in advance of the Rights issue.

Final outcome

The Rights Issue is comprised of 687,430,625 shares, of which 169,166,856 shares, corresponding to approximately 24.6 percent of the Rights Issue, have been subscribed for with the support of subscription rights. Additionally, 4,672,411 shares have been subscribed for without the support of subscription rights, corresponding to approximately 0.7 percent of the Rights Issue. Consequently, the Rights Issue is subscribed to approximately 25.3 percent with and without the support of subscription rights. Guarantee commitments of 376,160,733 shares, corresponding to approximately 54.7 percent of the Rights Issue, will be utilized. The Rights Issue will provide the Company with proceeds of approximately SEK 110 million before deduction of costs related to the Rights Issue. Out of the gross proceeds, approximately SEK 41 million is obtained through set-off against part of the Company’s debt under the bridge financing which was secured in advance of the Rights issue.

The last day of trading in paid subscribed shares (Sw. BTA) is expected to be on 19 December 2024. The new shares subscribed for with and without the support of subscription rights are expected to be traded on Nasdaq First North Growth Market as from 30 December 2024.

Number of shares and share capital

Following registration of the Rights Issue with the Swedish Companies Registration Office (Swe. Bolagsverket), the Company’s share capital will increase by SEK 5,500,000.00, from 6,874,306.25 to 12,374,306.25, and that the total number of shares in the Company will increase by 550,000,000, from 687,430,625 to 1,237,430,625 shares. Shareholders that have not participated in the Rights Issue will be diluted by approximately 44.4 percent.

Notice of allotment

Those who have subscribed for shares without the support of subscription rights will be allocated shares in accordance with the principles set out in the prospectus published by the Company on 20 November 2024. Notice of allotment to the persons who subscribed for shares without the support of subscription rights is expected to be distributed on 10 December 2024. Subscribed and allotted shares shall be paid in cash in accordance with the instructions on the settlement note sent to the subscriber. Subscribers who have subscribed through a nominee will receive notification of allocation in accordance with their respective nominee's procedures. Only those who have been allotted shares will be notified.

Advisers

Pareto Securities is Sole Manager and Bookrunner, Advokatfirman Schjødt is legal adviser to the Company and Baker & McKenzie Advokatbyrå KB is legal adviser to Pareto Securities in connection with the Rights Issue.

McPhy Energy Awarded a Landmark Contract in the Industrial Field for Green Metal Project for Plansee Group in Austria