Aino Health’s rights issue subscribed to 272 per cent, the company will receive approximately SEK 15.9 million

N.B. English translation is for convenience purposes only.

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Aino Health AB (publ) (“Aino Health” or the “Company”) has completed the rights issue of shares with subscription period from 18 September to 2 October, 2020 (the “Rights issue”). The Rights issue has been oversubscribed and the Company will receive approximately SEK 15.9 million, of which approximately SEK 0.5 million is paid by setting off claims, before issue costs of approximately SEK 0.7 million. The subscription price in the Rights issue was SEK 1.50 per share. Approximately SEK 14.0 million, corresponding to approximately 88 per cent of the Rights issue, was subscribed for and allocated to investors that subscribed with subscription rights. Approximately SEK 2.0 million, corresponding to approximately 12 per cent of the Rights issue, was subscribed for and allocated without subscription rights. The outcome of the Rights issue means that no underwriting commitments will be claimed. The proceeds from the Rights issue will secure funding to be able to execute in accordance with the adopted growth plan.

Through the Rights issue the Company will receive approximately SEK 15.9 million, of which approximately SEK 0.5 million is paid by setting off claims against Aino Health by the Company’s CEO, CFO and certain members of the Board of Directors. The number of shares will increase by 10,623,319 from 15,934,979 to 26,558,298 when the new shares are registered with the Swedish Companies Registration Office, while the share capital will increase by SEK 15,934,978.50 from SEK 23,902,468.50 to SEK 39,837,447.00. This corresponds to a dilution of 40.0 per cent. When the registration has taken place, paid subscribed shares (BTA) are converted into shares.

Allocation of shares subscribed for without subscription rights has been carried out in accordance with the allocation principle stated in the memorandum, which was made in connection with the Rights issue and was published on 16 September, 2020. Notice of allocation of shares subscribed without subscription rights will be sent to those allotted shares. The subscribed and allotted shares must be paid for in cash and payment must be received by Aqurat Fondkommission AB, according to instructions on the settlement note. No message is sent to those that have not been allotted any shares.

“We are incredibly happy about the great interest in our issue. We are in an expansion phase and the goal is to consolidate Aino Health’s position in existing markets and to establish and develop operations in the Nordic region and the rest of Europe. Through the issue proceeds, we will be able to execute according to the growth plan we have”, says Jyrki Eklund, CEO of Aino Health.

Advisers

Augment Partners AB is acting project leader and Advokatfirman Lindahl Kommanditbolag is acting legal advisor in connection to the Rights issue.

For further information, please contact:

Jyrki Eklund, CEO Aino Health AB (publ) Tel: +358 40 042 4221
E-mail: jyrki.eklund@ainohealth.com

This information is of the kind that the Company is required to disclose in accordance with the EU’s Market Abuse Regulation. The information was issued for publication through the agency of the contact person set out above on 6 October, 2020 at 19.00 CEST.

About Aino Health (publ)

Aino Health is the leading supplier of Software as a Service solutions in Corporate Health Management. The company’s complete system of SaaS platforms and services reduces sick leave, lowers related costs, and improves business results through increased productivity and employee engagement by making health, wellbeing, and safety an integrated part of everyday work. For more information: https://investors.ainohealth.com/en.

Aino Health AB (publ) is listed at Nasdaq First North Growth Market (Ticker: AINO). Erik Penser Bank AB, +46 8 463 83 00, certifiedadviser@penser.se is the Certified Adviser to the company.

Important information

Publication or distribution of this press release may in some jurisdictions be subject to statutory and legal restrictions and persons in those jurisdictions where this press release has been published or distributed should inform themselves about and observe such restrictions. The information in this press release does not constitute an offer to acquire, subscribe or otherwise trade in shares or other securities in Aino Health.

This press release does not constitute an offer to acquire securities in the United States. The securities mentioned herein may not be sold in the United States without registration in accordance with The Securities Act of 1933 or without the application of an exception to such registration. The information in this press release may not be released, published, reproduced or distributed in or to the United States, Australia, Canada, New Zealand, Hong Kong, Japan, Switzerland, Singapore, South Africa, or any other country or jurisdiction where such action is not permitted or such action is subject to legal restrictions or would require further registration or other measures than required by Swedish law. Measures contrary to this instruction may constitute a breach of applicable securities laws.