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The Board of Directors of Acconeer AB (publ) ("Acconeer" or the "Company") has, in connection with the rights issue of shares of approximately SEK 25 million proposed by the Board of Directors on 14 February 2025 and resolved by the extraordinary general meeting held on 6 March 2025 (the "Rights Issue"), prepared an information memorandum (the "Memorandum"). The Memorandum is available in Swedish on the Company's website (www.acconeer.com).
Summary of the Rights Issue
- One (1) existing share in the Company on the record date, 14 March 2025, entitles to three (3) subscription rights. Thirty-four (34) subscription rights entitle to subscription of one (1) new share.
- The Rights Issue comprises a maximum of 5,484,249 new shares. Upon full subscription in the Rights Issue, Acconeer will receive approximately SEK 25 million before deduction of issue costs.
- The subscription price in the Rights Issue is SEK 4.56 per share, which corresponds to the closing price of the Company's share on 13 February 2025.
- The subscription period in the Rights Issue runs from and including 18 March 2025 up to and including 1 April 2025.
- In order not to lose the value of the subscription rights, the holder must either sell the subscription rights received that are not intended to be utilized for subscription of shares no later than 27 March 2025, or exercise the received subscription rights and subscribe for new shares no later than 1 April 2025.
- The Company intends to use the proceeds from the Rights Issue to finance: (i) mainly the finalisation of the next generation radar sensor, A2, (ii) the commercialisation of A2 in new markets, development in new applications outside the automotive industry and (iiii) efforts with the aim of increasing sales and other business purposes.
- Prior to the Rights Issue, the Company has received subscription undertakings totalling approximately SEK 4.28 million, corresponding to approximately 17.12 per cent of the Rights Issue. In addition, the Company has received free of charge bottom guarantee undertakings amounting to approximately SEK 2.0 million, corresponding to approximately 8 per cent of the Rights Issue. In addition, the Company has also received free of charge top guarantee undertakings totalling approximately SEK 18.72 million, corresponding to approximately 74.88 per cent of the Rights Issue. In total, 100 per cent of the Rights Issue is covered by free of charge subscription undertakings and free of charge bottom and top guarantee commitments. Neither the subscription undertakings nor the bottom or top guarantee commitments are secured by bank guarantees, blocked funds, pledges or similar arrangements.
For full terms and conditions of the Rights Issue and other information about the Company, please refer to the published Memorandum.
The Memorandum
The Memorandum has been prepared in connection with the forthcoming Rights Issue and has today, 13 March 2025, been made available in Swedish on the Company's website (www.acconeer.com).
The Memorandum is not a prospectus within the meaning of Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved or reviewed by any regulatory authority in any jurisdiction. The Memorandum does not constitute a document in the form prescribed in Annex IX of the Prospectus Regulation.
Preliminary timetable for the Rights Issue
| 14 March 2025 | Record date for entitlement to participate in the Rights Issue |
| 18 March 2025 - 27 March 2025 | Trading in subscription rights |
| 18 March 2025 - 1 April 2025 | Subscription period |
| 18 March 2025 - 22 April 2025 | Trading in paid subscribed shares (BTA) |
| 3 April 2025 | Estimated date of announcement of the outcome of the Rights Issue |
Advisors
Moll Wendén Advokatbyrå AB is legal advisor to Acconeer AB in connection with the Rights Issue and Eminova Fondkommission AB is acting as issuing agent in connection with the Rights Issue.
For additional information, please contact:
Ted Hansson, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com
About Acconeer AB
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.
Important information
The publication, release or distribution of this press release in certain jurisdictions may be restricted by law and persons in the jurisdictions in which this press release has been published or distributed should inform themselves about and observe any such legal restrictions. The recipient of this press release is responsible for using this press release and the information contained herein in accordance with the applicable rules in each jurisdiction. This press release does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities issued by the Company in any jurisdiction in which such offer or solicitation would be unlawful.
This press release is not a prospectus within the meaning of Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved or reviewed by any regulatory authority in any jurisdiction. This press release does not constitute a document in the form prescribed in Annex IX of the Prospectus Regulation.
Within the European Economic Area ("EEA"), no offer of shares, warrants or other securities ("Securities") is made to the public in any country other than Sweden. In other member states of the European Union ("EU"), such an offer of Securities may only be made in accordance with the exemptions in the Prospectus Regulation (EU) 2017/1129. In other countries in the EEA that have implemented the Prospectus Regulation in national legislation, such an offer of Securities may only be made in accordance with the exemptions in the Prospectus Regulation and in accordance with any relevant implementing measure. In other countries in the EEA that have not implemented the Prospectus Regulation in national legislation, such an offer of Securities may only be made in accordance with the applicable exemption in the national legislation.
This press release does not constitute an offer or invitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an applicable exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of such securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, in or into the United States, Canada, Australia, Hong Kong, New Zealand, South Africa, South Korea, Switzerland, Singapore, Japan, Russia, Belarus or any other jurisdiction where such announcement, publication or distribution of this information would be unlawful or where such action is subject to legal restrictions or would require additional registration or other measures than those required by Swedish law. Actions in violation of this instruction may constitute a violation of applicable securities legislation.
In the United Kingdom, this press release and any other materials in relation to the securities referred to herein is only being distributed to, and is only directed at, and any investment or investment activity to which this press release relates is available only to, and will be engaged in only with, "qualified investors" who are (i) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth persons as referred to in Article 49(2)(a) to (d) of the Order (all such persons are collectively referred to as "relevant persons"). Any investment or investment activity to which this communication relates is available in the United Kingdom only to relevant persons and will be engaged in only with relevant persons. Persons who are not relevant persons should not take any action based on this announcement or act or rely on it.
This press release does not identify or purport to identify any risks (direct or indirect) that may be associated with an investment in new shares. This press release does not constitute an invitation to underwrite, subscribe or otherwise acquire or transfer securities in any jurisdiction. This press release does not constitute a recommendation for any investor's decision regarding the Compensation Issue. Each investor or potential investor should conduct its own investigation, analysis and evaluation of the business and information described in this press release and any publicly available information. The price and value of the securities may go down as well as up and past performance is not a guide to future results. Neither the contents of the Company's website nor any other website accessible through hyperlinks on the Company's website are incorporated into or form part of this press release.
Forward-looking statements
This press release contains forward-looking statements that reflect the Company's intentions, beliefs or expectations regarding the Company's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are statements that are not historical facts and can be identified using words such as "believes", "expects", "anticipates", "intends", "estimates", "will", "may", "anticipates", "should", "could" and, in each case, the negatives thereof, or similar expressions. The forward-looking statements in this press release are based on various assumptions, many of which are based on additional assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there can be no assurance that they will materialise or that they are accurate. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, actual results or outcomes could differ materially from those in the forward-looking statements for a variety of reasons. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this press release by the forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements contained in this press release are accurate and any reader of this press release should not place undue reliance on the forward-looking statements contained in this press release. The information, opinions and forward-looking statements expressed or implied herein are made only as of the date of this press release and are subject to change. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release, except as required by law or the rules of Nasdaq First North Growth Market.
