Rights issue oversubscribed

On December 12, 2019, the subscription period ended in Serstech AB´s (“Serstech”) rights issue. The rights issue was subscribed for a total of approx. SEK 32.9 million (excl. guarantee commitments), corresponding to a subscription rate of approx. 132 percent. Through the rights issue, a total of 7,124,367 shares will be issued and Serstech will be provided approx. SEK 24.9 million before issue costs. Settlement notes are expected to be sent out , December 17, 2019.

“We are very grateful for the interest in Serstechs rights issue. The issue proceeds will enable us to accelerate the business further in the best possible way. I have great confidence in Serstechs continued journey and want to thank all new and existing shareholders for their trust“, says Stefan Sandor, Serstech CEO.

Subscription and allotment in the rights issue

The rights issue was subscribed to 32,868,461.50 SEK excluding guarantee commitments, corresponding to a subscription rate of approximately 132 percent. 7,124,367 new shares are issued and Serstech is thus provided approximately SEK 24.9 million before issue costs, which are estimated to amount to approximately SEK 1.45 million. 4,938,761 shares, corresponding to approximately 69 percent of the subscribed issue volume, are subscribed by shareholders with the support of subscription rights. Due to the interest, guarantee commitments are not activated. Settlement notes are expected to be sent out , December 17, 2019. Subscribers who are not allocated shares will not receive settlement notes.

Number of shares and share capital

When the rights issue has been registered with the Swedish Companies Registration Office, the number of shares in Serstech will amount to 71,243,673 shares and the share capital will amount to SEK 8,014,913.2125.

Trading in BTA 1 (Paid-up for shares)

Trading in BTA 1 will take place on Nasdaq First North Growth Market until the Swedish Companies Registration Office has registered the rights issue. This registration is expected to take place in the beginning of January 2019.

For further information, please contact:
Stefan Sandor,
CEO, Serstech AB
Phone: +46 739 606067
Email: ss@serstech.com

Thomas Pileby,
Chairman of the Board, Serstech AB
Phone: +46 702 072643
Email: tp@serstech.com 
Company website: www.serstech.com

This is information that Serstech AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above at 08:45 CET on December 18, 2019.

Certified advisor to Serstech is Västra Hamnen Corporate Finance AB, phone: 040-20 02 50, e-mail: ca@vhcorp.se

About Serstech
Serstech delivers solutions for chemical identification and has customers across the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organizations and first responders. The solutions and technology are however not limited to security applications and potentially any industry using chemicals of some kind could be addressed by Serstech’s solution. 

Serstech is traded at Nasdaq First North Growth Market and more information about the company can be found at www.serstech.com