This is a translation of the Swedish press release published 2022-10-28

Neola Medical AB (publ) (“Neola Medical” or the “Company”) has completed the rights issue of ordinary shares which was resolved by the Board of Directors on 8 September 2022 and approved by the Extraordinary General Meeting held on 27 September 2022 (the “Rights Issue”). In connection herewith, in accordance with the guarantee commitments that have been entered into and what has previously been communicated, a directed issue of shares is carried out to two of the total of four guarantors in the Rights Issue who have chosen to receive guarantee commission of approximately SEK 1.1 million in the form of newly issued ordinary shares in the Company (the “Remuneration Issue”). The subscription price in the Remuneration Issue is set at SEK 1.30 per share and payment is made by offsetting the guarantors’ claims.

”We are very pleased with the strong support we have from our guarantors in the rights issue. The fact that two out of four guarantors choose to receive compensation in shares is a clear sign of the trust they have in Neola Medical and our continued development”, says Hanna Sjöström, CEO of Neola Medical

As previously communicated in connection with the Rights Issue, the guarantors had, in accordance with the guarantee commitments entered into, the opportunity to choose to receive guarantee commission in the form of cash compensation or newly issued shares in the Company. Two guarantors have chosen to receive the guarantee commission in the form of newly issued shares. Due to this, the Board of Directors has, pursuant to the authorization granted by the Annual General Meeting on the 19 May 2022, resolved on the Remuneration Issue, which comprises a total of 828,689 shares. Payment in the Replacement Issue shall be made by offsetting the guarantees’ claims for compensation. Under the terms of the guarantee agreement, the subscription price shall correspond to 90 per cent of the volume weighted average price of the Company’s share on the Nasdaq First North Growth Market during the subscription period for the Rights Issue, but not less than SEK 1.30 per share. Accordingly, the subscription price has been set at SEK 1.30 per share.

Read the entire translation of the Swedish press release here: Press communication

Read the press release (in Swedish) here: Press release