Clinical Laserthermia Systems AB (publ) carries out a directed issue of shares to set-off debt following a request for loan conversion by lenders

Lund, Sweden - Clinical Laserthermia Systems AB's ("CLS" or the "Company") has today, with the support of the authorization from the extra general meeting held on 22 November 2022, resolved on a directed share issue of 4,846,524 B-shares (the "Issue") to Modelio Equity AB, Lubrica Equity AB and Formue Nord Fokus A/S (the "Lenders") upon a request for conversion of debt totalling SEK 3 million. The subscription price in the Issue is determined to SEK 0.6190 per new B-share, payment will be made by offsetting the claim against the Company, consisting of the Lenders respective loan amounts.

CLS has previously announced that the Company has entered into loan agreements with the Lenders for a total of approximately SEK 40 million spread between two loans. The Company has, with received proceeds from the rights issue carried out in August/September 2022, repaid SEK 15 million of these previously committed and communicated loans and has, in connection with the repayment, renegotiated and extended the remaining loan amount including accrued interest corresponding to just over SEK 33 million (the "Loan Agreement"). The Company has in November 2022 repaid a portion of the outstanding loan amount, corresponding in total to SEK 4.5 million, via a conversion to B-shares. The Lenders have now, in accordance with the Loan Agreement, requested CLS to repay an additional portion of the outstanding loan amount, corresponding in total to SEK 3 million, via a conversion to B-shares. Therefore, the Company has, with the support of the authorization from the extra general meeting held on 22 November 2022, resolved on the Issue consisting of B-shares to the Lenders.

 

After the Issue, the outstanding loan amount, including a customary set-up fee, corresponds to approximately SEK 28 million.

 

The purpose of the Issue and the deviation from the shareholders' preferential rights is to meet the Company's obligations towards the Lenders under the Loan Agreement. In addition, the Board of Directors of CLS considers it to be beneficial for the financial position of the Company to take advantage of the possibility to repay part of the outstanding amount of the loan in the form of B-shares instead of by cash repayment.

 

Payment will be made by offsetting the claim against the Company, consisting of the Lenders respective loan amounts, in accordance with below.

 

Subscriber	Number of B-shares	Amount (SEK)
Modelio Equity AB	1,615,508	999,999.45
Lubrica Equity AB	1,615,508	999,999.45
Formue Nord Fokus A/S	1,615,508	999,999.45
Total	4,846,524	2,999,998.36

 

As stipulated in the Loan Agreement, the subscription price per B-share is based on the lowest daily volume-weighted average price during a period of 15 trading days prior to the notice with a discount of 10 percent and amounts to SEK 0.6190.

 

The issue will result in an increase in the number of B-shares in the Company by 4,846,524 and increase the share capital by approximately SEK 448,303.4725, corresponding to a dilution of approximately 3.45 percent of the votes and approximately 3.59 percent of the capital. After the Issue, the number of shares in CLS will amount to 135,121,819, of which 600,000 A-shares and 134,521,819 B-shares, and the share capital will amount to approximately SEK 12,498,768.3263.

 

For further information about CLS, please contact:

Dan J. Mogren, CEO

Phone: [phone]

E-mail: [e-mail]

www.clinicallaser.se

 

 

This press release has been translated from Swedish. The Swedish text shall govern for all purposes and prevail in case of any discrepancy with the English version.

Certified Adviser

FNCA Sweden AB

Phone: [phone]

E-post: [e-mail]

 

Clinical Laserthermia Systems AB (publ), develops and sells the TRANBERG® | Thermal Therapy Systems, including Thermoguide Workstation and sterile disposables, for minimally invasive treatment of cancer tumors and drug-resistant epilepsy, according to regulatory approvals in the EU and the US. The products are marketed for image-guided laser ablation and used in studies for treatment with imILT®, the Company's interstitial laser thermotherapy for immune stimulating ablation with potential abscopal effects. CLS is headquartered in Lund and has subsidiaries in Germany, the US and Singapore. CLS is listed on the Nasdaq First North Growth Market under the symbol CLS B.

 

This disclosure contains information that CLS is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 19-01-2023 08:24 CET.

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