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Acconeer publishes prospectus in connection with forthcoming rights issue

The board of directors of Acconeer AB ("Acconeer" or the "Company") has prepared a prospectus (the "Prospectus") relating to the issue of shares of approximately SEK 140 million (the "Rights Issue"), which was resolved by the board of directors on 22 November 2021, based on the authorization from the annual general meeting on 27 April 2021. The Prospectus has today been approved and registered by the Swedish Financial Supervisory Authority.

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, WITHIN OR TO THE UNITED STATES, AUSTRALIA, HONG KONG, CANADA, NEW ZEALAND, SOUTH AFRICA, SINGAPORE OR IN ANY OTHER JURISDICTION WHERE SUCH RELEASE, DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES IN ACCORDANCE WITH APPLICABLE LAW.

Summary

  • One (1) existing share in the Company entitles to one (1) subscription right. Ten (10) subscription rights entitle to subscription of one (1) new share, i.e., a subscription ratio of 1:10.
  • The subscription price is SEK 60 per new share, which, provided that the Rights Issue is fully subscribed, results in the Company receiving issue proceeds of approximately SEK 140 million before deduction of transaction costs.
  • The subscription period runs from 1 December 2021 until 15 December 2021.
  • Major shareholders, board members and senior executives in the Company have expressed their support for the Rights Issue by entering into subscription commitments amounting to approximately SEK 29 million, corresponding to approximately 21 percent of the Rights Issue. Furthermore, the Company has entered into agreements on issue guarantees of approximately SEK 90 million, corresponding to approximately 64 percent of the Rights Issue, which means that the Rights Issue is secured to approximately 85 percent.

For complete information about the Rights Issue, please see the published Prospectus.

Prospectus

The Prospectus has been prepared in connection with the forthcoming Rights Issue and has today, on 29 November 2021, been approved and registered by the Swedish Financial Supervisory Authority. The Prospectus, containing complete terms and conditions, is available on the Company's, Aktieinvest FK AB's and Pareto Securities' respective websites (www.acconeer.com, www.aktieinvest.se and www.paretosec.se). The Prospectus will also be available on the Swedish Financial Supervisory Authority's website (www.fi.se). Subscription forms will be available on the Company's and Aktieinvest FK AB's respective websites.

Timetable for the Rights Issue

29 November 2021

Publication of prospectus

29 November 2021

Record date

1 December - 10 December 2021

Trading in subscription rights

1 December - 15 December 2021

Subscription period

1 December - until the Rights Issue is registered at the Swedish Companies Registration Office

Trading in paid subscription shares (Sw. "BTA")

20 December 2021

Estimated date for announcement of the outcome in the Rights Issue

Advisers

Pareto Securities is the Global Coordinator in connection with the Rights Issue. Advokatfirman Schjødt is legal advisor to Acconeer and Cirio Advokatbyrå AB is the legal advisor to Global Coordinator in connection with the Rights Issue. Aktieinvest FK AB acts as the issuing agent in the Rights Issue.

For further information, please contact:

Lars Lindell, CEO
Phone: +46 10 218 92 00
E-mail: ir@acconeer.com

The information was submitted for publication, through the agency of the contact persons set out above, at 12.00 CET on 29 November 2021.

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) and can be contacted via telephone +46(0)8 121 576 90 or via e-mail certifiedadviser@redeye.se. For more information: www.acconeer.com.

IMPORTANT INFORMATION

This press release is not an offer to subscribe for shares in Acconeer and investors should not subscribe for or purchase any securities, except on the basis of information provided in the prospectus.

This press release may not be made public, released or distributed, directly or indirectly, in or into the United States, Australia, Hongkong, Canada, New Zealand, South Africa, Singapore or in any other jurisdiction in which the distribution of this press release would be unlawful. Further, this press release does not constitute an offer to sell new shares, paid subscribed for shares ("BTA") or subscription rights to any person in any jurisdiction in which it is unlawful to make such offer to such person or where such action would require additional prospectuses, registration or other measures other than those pursuant to Swedish law. The prospectus, application form and other documents associated with the Rights Issue may not be distributed in or to any country where such distribution or the Rights Issue would require such measures set forth in the preceding sentence or be in violation of the regulations of such country.

The new shares, BTAs and subscription rights have not been recommended or approved by any United States federal or state securities commission or regulatory authority. No new shares, BTAs, subscription rights or other securities issued by Acconeer have been or will be registered under the U.S. Securities Act of 1933, as amended, or under the securities legislation in any state of the United States, and may not be offered, exercised or sold in the United States absent registration or an applicable exemption from registration requirements. There is no intention to register any portion of the offering in the United States or to conduct a public offering of securities in the United States.

Any offering of the securities referred to in this press release will be made by means of a prospectus. This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (together with any related implementing and delegated regulations, the "Prospectus Regulation"). Investors should not invest in any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus.

In any EEA Member State other than Sweden, this press release is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State.

In the United Kingdom, this document and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, "qualified investors" (within the meaning of the United Kingdom version of the EU Prospectus Regulation (2017/1129/ EU) which is part of United Kingdom law by virtue of the European Union (Withdrawal) Act 2018) 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 entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this press release and should not act or rely on it.

This press release may contain forward-looking statements which reflect Acconeer's current view on future events and financial and operational development. Words such as "intend", "will", "expect", "anticipate", "may", "plan", "estimate" and other expressions that imply indications or predictions of future development or trends, constitute forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties as they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the actual outcome could differ materially from the forward-looking statements. The information, opinions and forward-looking statements included in this press release speak only as of its date and are subject to change without notice.

2021-12-21
Regulatory

The order relates to Acconeer's A111 Pulsed Coherent Radar sensor for mass production. Drainage Management Services Ltd is a UK-based company providing monitoring solutions for drainage and sewage systems.

2021-12-20
Regulatory

The board of directors of Acconeer AB ("Acconeer" or the "Company") hereby announces the outcome of the Company's rights issue of shares (the "Rights Issue") which was resolved by the board of directors on 22 November 2021 based on the authorization from the annual general meeting on 27 April 2021.The final count in the Rights Issue shows that 2,310,373shares, corresponding to approximately 99 per cent of the Rights Issue, have been subscribed for by the exercise of subscription rights. Furthermore, 2,465,919 shares were subscribed for without subscription rights, corresponding to approximately 105 per cent of the Rights Issue. The final outcome shows that the Rights Issue has been oversubscribed. Through the Rights Issue, Acconeer receives approximately SEK 140 million before deduction of transaction costs.

2021-12-17
Regulatory

The order relates to Acconeer's A111 Pulsed Coherent Radar sensor for mass production. NEXTY Electronics is a leading Japanese distributor with especially strong coverage of companies in the automotive sector.

2021-12-09
Regulatory

Acconeer AB ("Acconeer" or the "Company") today publishes a supplementary prospectus (the "Supplementary Prospectus") to the prospectus that was approved by the Swedish Financial Supervisory Authority and published on 29 November 2021. The Supplementary Prospectus is part of and must be read together with the prospectus.

2021-12-07
Regulatory

The order relates to Acconeer's A111 Pulsed Coherent Radar sensor for mass production. EMSYS Design LCC is a company providing industrial applications.

2021-12-06
Regulatory

The order relates to Acconeer's A111 Pulsed Coherent Radar sensor for European customer mass production. Baumüller Nürnberg GMBH is a is a leading manufacturer of electric drive and automation systems.

2021-11-29
Regulatory

The board of directors of Acconeer AB ("Acconeer" or the "Company") has prepared a prospectus (the "Prospectus") relating to the issue of shares of approximately SEK 140 million (the "Rights Issue"), which was resolved by the board of directors on 22 November 2021, based on the authorization from the annual general meeting on 27 April 2021. The Prospectus has today been approved and registered by the Swedish Financial Supervisory Authority.

2021-11-22
Regulatory

The board of directors of Acconeer AB ("Acconeer" or the "Company") has today, based on the authorization from the annual general meeting on 27 April 2021, resolved to carry out a rights issue of shares with preferential rights for the Company's existing shareholders of approximately SEK 140 million (the "Rights Issue"). The Company has received subscription commitments from a selection of the Company's largest shareholders, board members and senior executives, amounting to approximately SEK 29 million, corresponding to approximately 21 percent of the Rights Issue. Furthermore, the Company has entered into agreements on guarantee commitments of approximately SEK 90 million, which means that the Rights Issue is secured to approximately 85 percent. Acconeer will use the proceeds from the Rights Issue to finance the Company for the next 24 months. The Rights Issue provides Acconeer with working capital and creates better conditions for realizing the Company's strategy and business plan.

2021-11-18
Regulatory

The order relates to Acconeer's XM132 Entry Module for European customer mass production. Asteelflash is a European specialist EMS company.

2021-11-03
Regulatory

The A1 pulsed coherent radar sensor from Acconeer is used for surface classification and obstacle detection in a recently launched robotic lawn mower from one of the leading European manufacturers in the garden segment. The total potential value of the project going forward is estimated to US$ 600 thousand annually for Acconeer. This is Acconeer's estimate based on market data on robotic lawn mower sales.

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