Through the completed rights issue, AroCell AB (publ) (”AroCell” or the ”Company”) will receive proceeds amounting to approximately MSEK 39.4 before deduction of costs related to the rights issue. 14,329,800 shares, corresponding to approximately 55 per cent of the rights issue, were subscribed for by the exercise of subscription rights (including subscription undertakings). Furthermore, 1,387,266 shares were subscribed for without subscription rights, corresponding to approximately 5 per cent of the rights issue. 10,567,897 shares, corresponding to approximately 40 per cent of the rights issue, were subscribed for by guarantors.

AroCell will receive proceeds of approximately MSEK 39.4 through the rights issue before deduction of costs related to the rights issue.

”I would like to thank all current shareholders that have participated in the rights issue for their continued support and also give a warm welcome to all new shareholders. We are in a very exciting phase of AroCell’s development of strengthening the organisation to secure the work towards obtaining FDA-approval of AroCell TK 210 ELISA in the U.S.” Michael Brobjer, CEO of AroCell.

Mikael Lönn is after the new share issue one of the large shareholders in the company.

”AroCell's standardized blood test that can be used to improve cancer treatment is a very promising product for optimizing treatment strategies for patients. With a good basic research in the company and together with an already CE approved product, AroCell has the opportunity to significantly improve the treatment of patients and at the same time reduce costs. As a new large shareholder in the company, I look forward to follow and support AroCell in its journey toward FDA approval in the United States and full establishment of the product.” comments Mikael Lönn.

Notification regarding allocation
Allocation of shares has been made in accordance with the allocation principles described in the prospectus that was published in connection with the rights issue. A notification regarding allocation of shares subscribed for without subscription rights will be made by post of a contract note to each subscriber. Allocated shares subscribed for without subscription rights shall be paid for in accordance with the instructions in the contract note.

Directed issue
In connection to the rights issue the Company has also completed a directed issue of new shares with proceeds amounting to MSEK 15, which has been fully subscribed. See the separate press release from 22 October 2019 for more information regarding the directed issue of new shares.

Number of shares and share capital
Through the rights issue AroCell’s share capital is increased by SEK 2,628,496.30 by issuing 26,284,963 shares. Through the directed issue the Company’s share capital is increased by SEK 1,000,000 through issuing 10,000,000 shares. AroCell’s share capital will thus increase with the total amount of SEK 3,628,496.30 from SEK 3,942,744.50 to SEK 7,571,240.80. The number of shares will increase with in total 36,284,963 from 39,427,445 to 75,712,408. The subscription price was SEK 1.5 in both issues of new shares.

Trading in BTA
Trading in BTA (Sw: betald tecknad aktie) is currently taking place at Nasdaq First North Growth Market and will cease when the rights issue has been registered by the Swedish Companies Registration Office. BTA:s will then be converted to ordinary shares.

Advisers
Redeye AB acts as financial adviser and Fredersen Advokatbyrå AB acts as legal adviser in connection with the rights issue. Aqurat Fondkommission AB acts as issuer agent.

Important information
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in AroCell in any jurisdiction, neither from AroCell nor from someone else. Any investment decision in connection with the Rights Issue must be made on the basis of all publicly available information relating to the Company. Such information has not been independently verified by the financial advisors. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. This press release does not constitute or form part of an offer or solicitation 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 exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within 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 the 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, within or into Australia, Hong Kong, Japan, Canada, New Zeeland, Singapore, South Africa, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations. This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129 (the “Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction. A prospectus in Swedish regarding the Rights Issue described in this press release will be prepared and submitted to Swedish Financial Supervisory Authority (Sw. Finansinspektionen). Following the Swedish Financial Supervisory Authority’s approval and registration of the prospectus, the prospectus will be published and kept available at AroCell’s website.

AroCell AB (publ) (”AroCell” or the ”Company”) publishes prospectus with regards to the issue of shares with preferential rights for existing shareholders (the “Rights Issue”) resolved by the Board of Directors on 22 October 2019, subject to approval by the Extraordinary General Meeting on 8 November 2019.

The prospectus has today on 15 November 2019 been approved and registered by the Swedish Financial Supervisory Authority and is available in Swedish on AroCell’s website, www.arocell.com. Assuming full subscription of the Rights Issue, AroCell will receive SEK 39,4m before issue costs. The Rights Issue is covered by subscription commitments and guarantee commitments from principal owners and new investors corresponding to 100% of the issue proceed.

In connection with the Rights Offering the Company will also carry out a directed issue of SEK 15m.

The new issues of shares are carried out primarily to finance the work towards obtaining an FDA approval of AroCell TK 210 in the US.

Advisers

Redeye Aktiebolag acts as financial adviser and Fredersen Advokatbyrå acts as legal adviser in connection with the issues.

Important information

The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in AroCell in any jurisdiction, neither from AroCell nor from someone else. Any investment decision in connection with the Rights Issue must be made on the basis of all publicly available information relating to the Company. Such information has not been independently verified by the financial advisors. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. This press release does not constitute or form part of an offer or solicitation 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 exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within 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 the 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, within or into Australia, Hong Kong, Japan, Canada, New Zeeland, Singapore, South Africa, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations. This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129 (the “Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction. A prospectus in Swedish regarding the Rights Issue described in this press release will be prepared and submitted to Swedish Financial Supervisory Authority (Sw. Finansinspektionen). Following the Swedish Financial Supervisory Authority’s approval and registration of the prospectus, the prospectus will be published and kept available at AroCell’s website.
Forward-looking statements

This press release contains forward-looking statements that reflect the Company’s intentions, beliefs, or current expectations about and targets for 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 may be identified by words such as “believe”, “expect”, “anticipate”, “intend”, “may”, “plan”, “estimate”, “will”, “should”, “could”, “aim” or “might”, or, in each case, their negative, or similar expressions. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from errors and readers of this press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. 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

Today’s Extraordinary General Meeting in AroCell AB (publ) (“AroCell” or the “Company”) resolved to approve the Board of Directors’ resolution on an issue of shares with preferential rights for existing shareholders (the “Rights Issue”) and the Board of Directors’ resolution on a directed issue (the “Directed Issue”) (the “Issues of New Shares”).

Resolutions on approval of the Board of Directors’ resolutions on Issues of New Shares
The terms of the Rights Issue entitle persons registered as shareholders in AroCell on the record date, 15 November 2019, to receive two (2) subscription rights for each share. Three (3) subscription rights entitle to subscription of one (1) new share. In addition to this, investors are offered the possibility to subscribe for shares without subscription rights. The Rights Issue will result in an increase of the share capital with not more than SEK 2,628,496.30 through an issue of not more than 26,284,963 shares. The subscription price is SEK 1.50 per share.
For shareholders that do not participate in the Rights Issue the dilution effect will be approximately 40 percent (calculated as the number of new shares due to to the Rights Issue divided with the total number of shares in the Company after a fully subscribed Rights Issue).

The Directed Issue has been directed towards a limited number of Nordic qualified investors and will result in an increase of the share capital with not more than SEK 1,000,000 through an issue of not more than 10,000,000 shares at a subscription price of SEK 1.50 per share. The dilution effect for current shareholders, calculated after the Rights Issue, will be approximately 13 percent.

The total issue proceeds from the Issues of New Shares is circa SEK 54,4 million before deduction of issue costs. The subscription period in the Issues of New Shares runs from and including November 20, 2019 to and including December 4, 2019.

As previously communicated, the purpose of the Issues of New Shares is to obtain FDA approval of AroCell TK 210 ELISA for the US market seek reimbursement, and if necessary, carry out additional clinical study/studies to support the FDA application. AroCell also plans to complete a study of health economics and carry out market activities prior to product launch.

Preliminary timeline for the Directed Issue

• November 13, 2019 – Last day of trading incl. preferential rights
• November 14, 2019 – First day of trading excl. preferential rights
• November 15, 2019 – Record date
• November 20 – December 2, 2019 – Trading in rights
• November 20 – December 4, 2019 – Subscription period
• November 20, 2019 – Until the Rights Issue is registered at the Swedish Companies Registration Office – Trading in BTA (interim share)
• December 9, 2019 – Disclosure of outcome of Rights Issue

Advisers
Redeye Aktiebolag acts as financial adviser and Fredersen Advokatbyrå acts as legal adviser in connection with the issues.

Important information
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in AroCell in any jurisdiction, neither from AroCell nor from someone else. Any investment decision in connection with the Rights Issue must be made on the basis of all publicly available information relating to the Company. Such information has not been independently verified by the financial advisors. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. This press release does not constitute or form part of an offer or solicitation 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 exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within 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 the 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, within or into Australia, Hong Kong, Japan, Canada, New Zeeland, Singapore, South Africa, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations. This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129 (the “Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction. A prospectus in Swedish regarding the Rights Issue described in this press release will be prepared and submitted to Swedish Financial Supervisory Authority (Sw. Finansinspektionen). Following the Swedish Financial Supervisory Authority’s approval and registration of the prospectus, the prospectus will be published and kept available at AroCell’s website.

Forward-looking statements
This press release contains forward-looking statements that reflect the Company’s intentions, beliefs, or current expectations about and targets for 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 may be identified by words such as “believe”, “expect”, “anticipate”, “intend”, “may”, “plan”, “estimate”, “will”, “should”, “could”, “aim” or “might”, or, in each case, their negative, or similar expressions. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from errors and readers of this press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. 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.

1. Stämman öppnas
2. Val av ordförande vid stämman
3. Upprättande och godkännande av röstlängd
4. Godkännande av förslaget till dagordning
5. Val av en protokolljusterare
6. Prövning av om stämman blivit behörigen sammankallad
7. Beslut om godkännande av styrelsens beslut om företrädesemission
8. Beslut om godkännande av styrelsens beslut om riktad emission
9. Beslut om bemyndigande för VD att besluta om justering av besluten
10. Avslutning

1. Bolagets aktiekapital ska öka med högst 2 628 496,30 kronor.
2. Antalet nyemitterade aktier ska uppgå till högst 26 284 963 stycken.
3. Innehav av en (1) befintlig aktie i Bolaget på avstämningsdagen den 15 november 2019 ska berättiga till två (2) teckningsrätter. Tre (3) teckningsrätter ska berättiga till teckning av en (1) ny aktie i Bolaget.
4. Teckningskursen för varje nyemitterad aktie ska vara 1,50 kronor.
5. Aktier som inte tecknas med företrädesrätt ska tilldelas dem som tecknat aktier utan stöd av teckningsrätt. Tilldelning utan företrädesrätt ska ske

• i första hand till dem som även tecknat aktier med stöd av teckningsrätt (oavsett om dessa var aktieägare på avstämningsdagen eller ej), pro rata i förhållande till hur många aktier som tecknats med stöd av teckningsrätter, dock att tecknare som med tillämpning av denna tilldelningsprincip skulle ha tilldelats färre än 100 aktier efter lottning ska tilldelas antingen 100 aktier eller inga aktier,
• i andra hand till andra som tecknat aktier utan företrädesrätt, pro rata i förhållande till hur många aktier som tecknats, dock att tecknare som med tillämpning av denna tilldelningsprincip skulle ha tilldelats färre än 100 aktier efter lottning ska tilldelas antingen 100 aktier eller inga aktier, och
• i tredje hand till emissionsgaranter i enlighet med respektive garants garantiåtagande, dock att tecknare som med tillämpning av denna tilldelningsprincip skulle ha tilldelats färre än 100 aktier efter lottning ska tilldelas antingen 100 aktier eller inga aktier.

1. Teckningsperioden ska löpa från och med den 20 november 2019 till och med den4 december 2019.
2. Teckning med stöd av teckningsrätter ska ske genom betalning senast den4 december 2019. Teckning utan stöd av teckningsrätter ska ske på teckningslista varvid betalning ska erläggas senast tre bankdagar från avsändandet av besked om tilldelning.
3. Styrelsen ska ha rätt att förlänga teckningsperioden och tiden för betalning genom meddelande senast den sista dagen i teckningsperioden.
4. Nya aktier ska berättiga till utdelning den första avstämningsdagen för utdelning som infaller efter att de nya aktierna registrerats.
5. Bolagets VD bemyndigas att vidta de mindre justeringar i detta beslut som kan visa sig nödvändiga för registrering hos Bolagsverket och Euroclear Sweden AB.

1. Bolagets aktiekapital ska öka med högst 1 000 000 kronor.
2. Antalet nyemitterade aktier ska uppgå till högst 10 000 000 stycken.
3. För varje tecknad aktie ska erläggas 1,50 kronor. Teckningskursen har fastställts genom förhandlingar med ett antal investerare och bedöms vara marknadsmässig.
4. Rätt att teckna de nya aktierna ska, med avvikelse från aktieägarnas företrädesrätt, endast tillkomma ett begränsat antal utvalda nordiska kvalificerade investerare. Skälet till avvikelsen från aktieägarnas företrädesrätt är att tillföra Bolaget ytterligare kapital för att finansiera arbetet mot FDA-godkännande av AroCell TK 210 ELISA för marknaden i USA och även tillföra långsiktiga strategiska ägare samt därigenom främja Bolagets möjligheter att utveckla Bolaget för att skapa ytterligare värde för samtliga aktieägare.
5. Teckningsperioden ska löpa från och med den 20 november 2019 till och med den4 december 2019. Teckning ska ske genom betalning senast den 4 december 2019.
6. Styrelsen ska ha rätt att förlänga teckningsperioden och tiden för betalning genom meddelande senast den sista dagen i teckningsperioden.
7. Nya aktier ska berättiga till utdelning den första avstämningsdagen för utdelning som infaller efter att de nya aktierna registrerats.
8. Bolagets VD bemyndigas att vidta de mindre justeringar i detta beslut som kan visa sig nödvändiga för registrering hos Bolagsverket och Euroclear Sweden AB.