AQUA BIO TECHNOLOGY ASA - RESULT OF SUBSEQUENT OFFERING – UPDATE OF PROPOSAL FOR THE EXTRAORDINARY GENERAL MEETING
Reference is made to the stock exchange notice by Aqua Bio Technology ASA (the "Company") on 27 March 2025 regarding a subsequent offering with gross proceeds of up to NOK 10,000,000 through issuance of up to 20,000,000 new shares at a subscription price of NOK 0.50 per share (the "Subsequent Offering").
In the Subsequent Offering, the shareholders of the Company as of 11 March 2025 (as registered in the VPS on 13 March 2025), except: (i) shareholders that subscribed for shares in the private placement placed on 11 March 2025, 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"), received subscription rights giving preferential rights to subscribe for and be allocated new shares in the Subsequent Offering (the "Offer Shares"). In addition, certain groups of investors, as described in the stock exchange notice dated 27 March 2025 were given a secondary right to subscribe for Offer Shares not subscribed for by the Eligible Shareholders ("Secondary Subscribers").
The application period in the Subsequent Offering ended on 3 April 2025 at 16.30 CEST. At the end of the application period, the Company had received applications for 4,111,975 Offer Shares. The new shares will be subscribed both through subscription rights and from Secondary Subscribers.
The Company's board of directors (the "Board") has now allocated shares in the Subsequent Offering, which implies that the Company shall issue 4,111,975 Offer Shares. The Board has allocated 3,742,741 Offer Shares to Eligible Shareholders and 369,234 Offer Shares to Secondary Subscribers. Allocation letters, regarding the number of shares allocated and the subscription amount to be paid, will be distributed to the subscribers shortly.
As the subscription price of the Offer Shares is lower than the current par value of the Company's shares, the Company must carry out a share capital decrease to reduce the par value of the Company's shares to NOK 0.50 per share (the "Share Capital Decrease").
In order to issue Offer Shares to the applicants, the general meeting of the Company (to be held on 9 April 2025) must pass a resolution to increase the Company's share capital (the "Share Capital Increase"). In the notice to the general meeting minutes, the resolution is given with a minimum and maximum increase of the share capital. Given that the exact number of Offer Shares is now known, the Company's Board of Directors has now resolved to update its proposal to the general meeting, as evident from the attached document.
Completion of the Subsequent Offering is subject to; (i) all necessary corporate resolutions for consummating the Subsequent Offering, including both the Share Capital Decrease and the Share Capital Increase, having been validly passed, (ii) the Share Capital Decrease being registered as completed in the Norwegian Register of Business Enterprises, (iii) valid subscription of the Offer Shares and the allocated Offer Shares having been fully paid, and (iv) registration of the Share Capital Increase in the Norwegian Register of Business Enterprises.
DISCLOSURE REGULATION
For further information, please contact Fredrik Henriksen, CEO, Phone +47 900 20 078.
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. Aqua Bio Technology is listed on Euronext Expand.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Disclosure regulation
This information is subject of the disclosure requirements pursuant to section of 5-12 of the Norwegian Securities Trading Act.
Contacts
- Fredrik Henriksen, CEO, Aqua Bio Technology ASA, +47 90 02 00 78, fredrik.henriksen@aquabiotech.no
About Aqua Bio Technology ASA
Aqua Bio Technology ASA (ABT) is a distribution group in skincare and nonfood. The group has distribution towards B2C, B2B, B2B2, and freight, customs, and logistics services. The group also develops sustainable biotechnology for use in skincare products. Aqua Bio Technology is listed on the Euronext Expand market of the Oslo Stock Exchange.