Issue outcome in Enersize Oyj – SEK 42.5 million is contributed through preferential share issue and directed issue

Enersize Corporation ("Enersize" or the "Company") has completed a rights issue and a directed share issue which in total has added approximately SEK 42.5 million to the company. Subscription in the rights issue together with the directed share issue amounts to a total of 90.4 percent of the previously published subscription space in the preferential rights issue.

The preferential rights issue of shares with pending warrants published on September 24, 2019 (the "Preferential rights issue") has been subscribed to a total of 81.25 percent, with approximately 47.6 percent subscribed for under subscription rights and approximately 33.6 percent subscribed for without subscription rights. Through the Preferential rights issue, the Company receives approximately SEK 38.2 million before issue costs. In addition, the Company receives approximately SEK 4.3 million in a directed issue in accordance with the Board's authorization to set off project loans and receivables ("Directed issue").

Through these issues, Enersize will raise capital to strengthen the organisation's sales, marketing and product organization and repay the Company's short-term loans. Through these issues, the Company's balance sheet is significantly strengthened.

”It feels fantastic that we now have a really good result of the share issue, where the company raises SEK 42.5 million in capital and can now start the expansion we have prepared for and aggressively begin to process our sales pipeline. We therefore intend to continue to strengthen the sales organization and thereby increase our focus on sales, initially in the Nordics and Europe, but also in China and globally. The issue has provided the company with the necessary liquidity and significantly strengthened our balance sheet.”, says Anders Sjögren, Managing Director at Enersize.

Number of shares

The Preferential rights issue now completed included 58,825,944 shares at a subscription price of SEK 0.65 or EUR 0.06 per share. Of the total number of subscription applications, 34,489,567 shares (approximately 48%) were supported by subscription rights and 24,336,377 shares (approximately 34%) were not supported by subscription rights.

In addition, 6,613,800 shares have been added through the now-directed private placement, which means that the Company will receive a total of 65,439,744 new shares. After completed issues, the number of shares in the Company increases from 36 201 508 to a total of 101 641 252, which results in a dilution effect of approximately 64 percent.

Following both issues, the Board of Directors and management have increased their shareholding to 6,047,743 shares, which corresponds to approximately 6.0 percent of the Company. In addition, existing large shareholders Loudspring Oyj, Formue Nord Fokus A / S, Thorkel Investments Oy and Kivla Oy have increased their holdings to 26,833,507 shares, which together represent 26.4 percent of the Company.

Warrants

The pending warrants of Series 2-2019 (TO2) have a strike period from August 31, 2020 through September 11, 2020. The strike price is equivalent to 70 percent of the volume-weighted average price during the period from August 13, 2020 through August 27, 2020, however, never higher than SEK 1.30 (EUR 0.12) or lower than SEK 0.65 (EUR 0.06). The conditions are that one (1) warrants are required to subscribe for one (1) share, which means that the Company can receive a minimum of approximately SEK 19 million and a maximum of approximately SEK 38 million upon full subscription through the exercise of the warrants.

Allocation of shares in the Rights Issue

Allocation of shares subscribed for without subscription rights has been granted in accordance with what is stated in the prospectus. Notice of such assignment is given separately through the sent statement note. Trustee-registered shareholders receive notification of allotment in accordance with instructions from the respective trustee.

Directed new issue

In accordance with the authorization at the Extraordinary General Meeting on September 24, the Board of Directors has decided on a directed offset issue with the aim of converting two remaining project loans to creditors GLD Holding AB and to BietBi Holdings, and to convert parts of salary and claims to staff and advisory companies into shares.

The Private Placement has been made at the same price as the subscription price in the Preferential rights issue, ie SEK 0.65, but has not been eligible for warrants (TO2). The Private Placement has been implemented with the aim of strengthening the Company's balance sheet and, when subscription warrants (TO2) have not been issued, have been executed on worse terms than that offered to other shareholders in the Rights Issue.

In total, project loans and receivables for SEK 4,298,970 have been set off to a total of 6,613,800 shares, of which 4,056,922 are to creditors and 2,556,878 to staff and advisory companies.

Translation of exercise price for warrants of series TO1

Due to the Rights Issue, recalculation has been made in accordance with the terms of the warrants program 1/2019 regarding the subscription price and / or the number of shares that each warrant warrants.

For TO1 / 2019, the new subscription price is SEK 3.22 (previously SEK 4.00). Previously, four (4) warrants gave the right to subscribe for one (1) new share, a new number of warrants that entitle to subscribe for one (1) new share is three (3).

Advisor

Mangold Fondkommission AB is financial adviser to Enersize in connection with the Preferential rights Issue. The law firm Smartius Oy and Eversheds Sutherland Advokatbyrå AB are legal advisors to the Company.

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