Board of directors of iZafe Group resolves in favour of offset issue

Stockholm, Sweden – iZafe Group AB (publ) (NASDAQ First North: IZAFE B), a leading Life Science company focused on the digitalisation of healthcare, is announcing that the board of directors of iZafe Group AB (“iZafe” or “the company”) has today resolved to execute a new share issue.

Supported by the authorisation granted by the 2020 annual general meeting, the board of directors has today resolved to execute an offset issue (issue of shares in consideration for debt) directed at Sten Röing, who has a claim against the company of SEK 862,500 in total.

The offset issue will comprise a maximum of 349,190 Class B shares and will increase shares outstanding from 34,078,510 to 3,494,010 divided among 600,000 Class A shares and 34,341,010 Class B shares.

The subscription price for the offset issue will be SEK 2.47 per Class B share. The subscription price corresponds to the volume weighted average price, calculated as the daily volume-weighted price paid on Nasdaq Premier Growth Markets for Class B shares in the company during a period of 10 trading days immediately preceding the date of the board resolution, with a discount of five percent.

The board has elected to waive shareholders’ pre-emptive rights because the offset issue will strengthen the company’s financial position in a timely and cost-effective manner.

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