The board has resolved, based on the general meeting’s authorization, to request the issuance of the second tranche of convertible loan amounting to SEK 2 million by issuing convertible instruments. The convertible instruments can be converted into shares of QuickCool. European High Growth Opportunities Securitization Fund has the sole right to subscribe for the convertible instruments by cash payment. The convertible instruments are issued at a subscription price equal to one hundred percent of their aggregate nominal value.
The convertible bonds carry no interest and have a maturity of 12 months as from their registration with the Swedish Companies Registration Office, if not converted prior to that date. The conversion price per new share shall correspond to 90 per cent of the lowest daily VWAP according to Spotlight Stock Market’s market official price list for the shares in QuickCool during the fifteen (15) trading days preceding the conversion date.
The board has further resolved, based on the general meeting’s authorization and with deviation from the shareholders’ pre-emptive rights, to issue 500.000 warrants attached to the convertible instruments. Each warrant entitles European High Growth Opportunities Securitization Fund to subscribe for one new share in QuickCool, during three years as from their date of registration with the Swedish Companies Registration Office, at an exercise price of SEK 1,20 per share. The warrants are issued free of charge. Upon full exercise of the warrants, QuickCool will be provided with up to SEK 600,000, corresponding to 30 percent of the nominal amount of the convertible bond loan. The terms and conditions for the warrants include customary provisions on recalculation of the exercise price in connection with rights issues etc.
The board’s issue resolutions have been made based on the authorization from the annual shareholders’ meeting on 3 May 2018 and the extraordinary shareholders’ meeting on 4 June 2018.
For more information, please contact:
Fredrik Radencrantz, VD
Telefon: 046-286 38 40
This information is such that QuickCool AB is required to make public in accordance with the EU’s market abuse regulation (MAR) and the Swedish Securities Market Act. The information was made publicly available by the Company’s contact person on 12 July, 2018.
Quickcool is a Swedish medical technology company, whose business concept is to save lives and prevent brain damage in acute ischemia (Inadequate blood supply to the brain) by developing and providing a unique and globally patented cooling system, the Quickcool SYSTEM. Quickcool is active in the fast-growing market, Targeted Temperature Management (TTM), for brain-protective cooling treatment of patients with e.g. acute cardiac arrest and stroke. QuickCool’s solution protects the brain by cooling in the nasal cavity and thus takes advantage of the innate heat exchanger in the nose. QuickCool’s Intranasal method offers gentle and uninterrupted cooling treatment for sedated patients. Quickcool is listed on Spotlight Stock Market and conducts its business at Ideon Science Park in Lund. For more Information, please refer to www.quickcool.se