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Heliospectra Receives SEK 107 Million (USD 11.75 million) in Oversubscribed Capital Raise

(GOTHENBURG, Sweden/SAN FRANCISCO, CA, December 7, 2016) – Heliospectra AB (publ) (OTCQB: HLSPY, FIRSTNORTH: HELIO), a world leader in intelligent lighting technology for controlled environments horticulture, is pleased to announce that the rights issue that ended on December 2, 2016, that entailed approximately SEK 91 million was oversubscribed. The high demand from both new and existing shareholders enabled the oversubscribed capital to amount to approximately SEK 16 million. Heliospectra will thereby receive approximately SEK 107 million (USD 11.75 million) before issue costs, and nearly 1,200 new shareholders.

Heliospectra publicly announced during the Annual General Meeting on November 8, 2016, that the company was issuing 13,966,647 new shares with preferential rights for existing shareholders at a subscription price of SEK 6.50 per share. This covered 50.5% of the subscription commitments from existing shareholders and 49.5% of the underwritten capital raise (“rights issue”), accordingly this also authorized the board to, at full subscription of the capital raise conduct a private placement of a maximum of 3,076,923 shares at the same subscription price (“oversubscription capital raise”).

The subscription period in the capital raise expired on December 2, 2016, and the interest for the subscription of shares has been high. The final result shows that a total of 11,359,194 shares were subscribed with the subscription rights, which represents approximately 81% of the capital raise. In addition, a total of 5,130,186 applications for subscription of shares without subscription rights were received, which represents approximately 37% of the capital raise. The rights issue was subscribed to approximately 118%, which equates to an oversubscription capital raise of 18%.

The rights issue is thus oversubscribed. In light of the oversubscription rate of the capital raising, the Heliospectra Board of Directors have thereby exercised their rights to issue 2,522,733 new shares at a subscription price of SEK 6.50 per share, corresponding to approximately SEK 16.4 million. No shares were allocated to underwriters in accordance with the preexisting underwriting agreement.

Today, Heliospectra’s share capital amounts to SEK 1,862,219.6, divided into 18,622,196 shares. The rights issue and the oversubscription rights issue increases Heliospectra’s share capital to SEK 3,511,157.6 and the number of shares to 35,111,576.

“We are very pleased with the substantial interest in Heliospectra from both existing and new shareholders. The issue will allow us to expand our international sales efforts and further product development to meet our customer’s needs. The market for intelligent lighting technology is steadily growing and through this capital raise we can expand our efforts and continue to take market share. We are delighted that so many of our existing shareholders continue to show their support and we would like extend a warm welcome to the nearly 1,200 new shareholders.” says Staffan Hillberg, CEO of Heliospectra.

Advisors

Redeye AB is the financial advisor and MAQS Advokatbyrå AB is the legal advisor in connection with the transaction.

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