Smart Eye Announces the Final Outcome of the Fully Secured Rights Issue

GÖTEBORG, SWEDEN / ACCESSWIRE / February 20, 2023 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9) The final outcome in Smart Eye Aktiebolag (publ)'s ("Smart Eye" or the "Company") rights issue of shares of approximately SEK 324 million (the "Rights Issue"), where the subscription period ended on 16 February 2023, shows that 11,277,356 shares, corresponding to approximately 89 percent of the offered shares, have been subscribed for with support of subscription rights. Additionally, applications for subscription of 9,029,125 shares without support of subscription rights have been submitted, corresponding to approximately 71 percent of the offered shares. Together, subscriptions with support of subscription rights and subscription applications for subscription without support of subscription rights correspond to approximately 160 percent of the offered shares in the Rights Issue. Thus, the Rights Issue is fully subscribed and no guarantee commitments have been utilized. As a result of the Rights Issue, Smart Eye will receive total issue proceeds of approximately SEK 324 million before deduction of transaction costs.

The Rights Issue comprised 12,704,540 shares, of which 11,277,356 shares, corresponding to approximately 89 percent of the offered shares, have been subscribed for with support of subscription rights. Additionally, applications for subscription of 9,029,125 shares without support of subscription rights have been submitted, corresponding to approximately 71 percent of the offered shares. A total of 1,427,184 shares corresponding to 11 percent have been allotted to individuals who have applied to subscribe for shares without support of subscription rights. Together, subscriptions for shares with support of subscription rights and subscription for shares without support of subscription rights correspond to approximately 160 percent of the offered shares in the Rights Issue. Thus, the Rights Issue is fully subscribed and no guarantee commitments have been utilized.

Smart Eye will receive proceeds through the Rights issue of approximately SEK 324 million before deduction of transaction costs. As a result of the Rights Issue, Smart Eye's share capital will increase by SEK 1,270,454.00 to SEK 3,493,749.10 and the number of shares and votes will increase by 12,704,540 to 34,937,491.

Those who have subscribed for shares without the support of subscription rights will be allotted shares in accordance with the principles set out in the prospectus published on 30 January 2023. Notice of allotment to the persons who have subscribed for shares without support of subscription rights is expected to be distributed on 20 February 2023. Subscribed and allotted shares must be paid for in cash within two banking days in accordance with the instructions on the settlement note sent to the subscriber. Investors who have subscribed through a nominee will be notified of the allotment in accordance with their respective nominee's procedures. Only those who have been allotted shares will be notified.

The last day for trading in paid subscribed shares (BTA) is expected to be on 22 February 2023. The new shares subscribed for with support of subscription rights are expected to be registered with the Swedish Companies Registration Office around 22 February 2022 and the new shares are expected to start trading on Nasdaq First North Growth Market as of 28 February 2022. The new shares subscribed for without support of subscription rights are expected to be registered with the Swedish Companies Registration Office around 22 February 2022 and the new shares are expected to start trading on Nasdaq First North Growth Market as of 28 February 2022.

Advisers

In connection with the Rights Issue, the Company has engaged Carnegie Investment Bank AB (publ) as Sole Global Coordinator and Bookrunner and Advokatfirman Vinge KB as legal adviser.

For further information, please contact

Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Email: [email protected]

About Smart Eye

Smart Eye is the global leader in Human Insight AI, technology that understands, supports, and predicts human behavior in complex environments. We are bridging the gap between humans and machines for a safe and sustainable future. Our multimodal software and hardware solutions provide unprecedented human insight in automotive and behavioral research-supported also by Affectiva and iMotions, companies we acquired in 2021.

In automotive, we are leading the way towards safer and human-centric mobility through Driver Monitoring Systems and Interior Sensing solutions. Our technology is embedded in next-generation vehicles and available as a standalone aftermarket solution for existing vehicles, fleet, and small-volume OEMs.

Our industry-leading eye tracking systems and iMotions biosensor software enable advanced research and training in academic and commercial sectors. Affectiva's Emotion AI provides the world's largest brands and market researchers with a deeper understanding of how consumers engage with their content, products, and services.

Smart Eye was founded in 1999 and is headquartered in Sweden with offices in the US, UK, Germany, Denmark, Egypt, Singapore, China and Japan. A publicly traded company since 2016, our customers include NASA, Nissan, Boeing, Honeywell, Volvo, GM, BMW, Geely, Harvard University, over 1,300 research organizations around the world, 70% of the world's largest advertisers and 28% of the Fortune Global 500 companies.

Visit https://smarteye.se/ for more information.

Visit our investor web for more financial information: https://smarteye.se/investors/

Smart Eye is listed on Nasdaq First North Growth Market. Erik Penser is Certified Adviser.

Forward-looking statements

Matters discussed in this announcement may constitute forward-looking statements. Forward looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "deems", "intends", "estimate", "will", "may", "continue", "should" and similar expressions. This applies in particular to statements relating to future results, financial position, cash flow, plans and expectations of the Company's operations and management, future growth and profitability, general economic and regulatory environment and other factors affecting the Company, many of which are based on further assumptions, such as no changes in existing political, legal, fiscal, market or economic conditions or applicable law (including but not limited to accounting principles, accounting methods and tax policies), which may or may not be of importance to the Company results or its ability to operate. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward looking statements.

Potential investors should therefore not attach undue confidence to the forward-looking information herein, and potential investors are urged to read the parts of the prospectus that include a more detailed description of factors that may affect the Company's operations and the market in which the Company operates.

The information, opinions and forward-looking statements contained in this announcement speak only as at its date and could be subject to change without notice.

Attachments

Smart Eye Announces The Final Outcome Of The Fully Secured Rights Issue

SOURCE: Smart Eye