The Board of directors of Phase Holographic Imaging PHI AB (publ) (“PHI”) has decided to conduct a rights issue of units, which is subject to approval on Extraordinary General Meeting, that can provide the company a total of SEK 64.6 million at the most prior to issuing costs. The general public is also invited to subscribe for units in the rights issue. The units issue is pre-subscribed to approximately 62 % of the initial issue volume through subscription commitments and guarantee commitments. The guarantee commitments are agreed top-down, meaning that if the rights issue is subscribed to 80 %, as an example, then guarantee commitments will be activated for the remaining 20 %.
The Board of directors also plan to decide on a so-called over-allotment option of an additional total SEK 14.7 million at the most, to be utilized if the units issue is over-subscribed. Notice of Extraordinary General Meeting will be published shortly. PHI also announces that the date of publication of the company's year-end report will be preponed until June 12, 2018.
PHI's innovative technology creates new opportunities for medical research to improve treatment methods and results. Over the past years, PHI has conducted an extensive work to ensure product quality and function. Further, the company has transitioned its business model from distributor sales to direct sales in the Nordic market, which has led to a significant sales increase and margin improvement in the Nordic market.
Therefore, based on the information above and subject to approval on Extraordinary General Meeting, the board of PHI has decided to conduct a rights issue of units (shared and warrants) which can provide the company a maximum of SEK 46.3 million prior to issue costs initially and an additional maximum SEK 18.3 million prior to issuing costs at a later stage through warrants. The units issue is conducted with the aim of achieving a positive cash flow through extended direct presence in key markets combined with primarily digital marketing, as well as attracting additional leading industry players. To broaden the ownership, the board also plan to decide on a so-called over-allotment option that can provide the company an additional approximately SEK 10.5 million at the most and later an additional SEK 4.2 million at the most through warrants, to be utilized if the units issue initially is over-subscribed.
Full terms and conditions, information on subscription commitments and guarantee commitments as well as the prospectus and the folder will be published on the company’s (www.phiab.se), AktieTorget’s (www.aktietorget.se) and Sedermera Fondkommission’s (www.sedermera.se) respective websites no later than when the subscription period of the offering begins.
Publication of PHI’s year-end report for the fiscal year 2017/18 will be preponed. Previous date for publication was June 18, 2018. New date for publication is June 12, 2018.
Sedermera Fondkommission is the financial adviser to PHI in connection with the planned rights issue. For additional information about the planned rights issue, please contact:
Tel: +46 40 615 14 10
This information is information that Phase Holographic Imaging is obliged to make public pursuant to the EU Market Abuse Regulation.