Enzymatica’s Board of Directors decides on a new rights issue of SEK 59.1 million

Background and reasons

Enzymatica is a Swedish life science company that develops and sells health care products for primarily conditions of the ear-nose-and-throat region. The products are based on a barrier technology that includes marine enzymes. The Company’s first product is the medical device ColdZyme®, a mouth spray against common cold. The product has been launched in about 30 markets on 3 continents.

ColdZyme is one of few products that addresses the cause of colds, i.e. the common cold virus. ColdZyme protects against common cold viruses, can shorten the duration of common cold if used early on, alleviates common cold symptoms and sore throat. In 2020, Enzymatica achieved several important milestones. ColdZyme was recertified, which implies that the common cold spray now is sold as a class III medical device product within the EU. Enzymatica was also granted EU-patent until 2035 for one of the key components of ColdZyme. During the year, the Company also continued to pursue its international expansion. In the beginning of the year, Enzymatica entered into an agreement with Keyuan Trade, a subsidiary of China’s second largest pharmaceutical company Shanghai Pharma, for the Chinese market. The agreement with the German company STADA was extended three times and covers now about 40 markets. In addition, Enzymatica signed an agreement with Sanofi, one of the largest pharmaceutical companies within consumer healthcare, for sales of ColdZyme in France and Italy, and with MS Pharma for sales of ColdZyme in ten selected markets within MENA – Middle East Northern Africa. Enzymatica also entered into an agreement with Chemipal, one of the leading pharmaceutical distributors in Israel.

All together, the Board of Directors of Enzymatica believes that the Company is well-positioned for continued growth that will result in rising profitability. The Company has an explicit growth strategy that is based on strengthening the position of ColdZyme in existing markets, geographical expansion through the launch of the product in additional markets, and the development of new products based on the Company’s barrier technology. The impending Rights issue will strengthen the Company’s financial position while securing the Company’s long-term investments within areas such as geographical expansion, clinical studies, organization and supply chain, and, in addition, to meet the need of working capital for 2021.

Terms and conditions in brief

Under the terms of the Rights issue, twenty nine (29) existing shares carry the right to subscribe for one (1) new share at a price of SEK 12.00 per share. The rights issue is 100 percent covered by subscription commitments (43.5 percent) and underwriting agreements (56.5 percent) from the Company’s three largest shareholders. Assuming full subscription, Enzymatica will raise SEK 59.1 million before issue expenses. Compensation for the guarantees will be paid by 7 percent of the amount guaranteed.

One (1) existing share in Enzymatica carries one (1) subscription right, while twenty nine (29) subscription rights entitle the holder to subscribe to one (1) new share. The share capital will therefore increase by a maximum of approximately SEK 196,998.20 and the number of shares by a maximum of 4,924,955 shares. The subscription price is SEK 12.00 per share.

The record date at Euroclear Sweden AB for participation in the rights issue is May 17, 2021.The subscription period will run from and including May 19, 2021 up to and including June 2, 2021.

Subscription rights not exercised by that date will expire and will lose their value. Trading in subscription rights will take place on Nasdaq First North Growth Market from and including May 19, 2021 up to and including May 28, 2021.

If not all the shares are subscribed for by exercise of subscription rights, the Board of Directors shall resolve on allotment of shares subscribed for without the exercise of subscriptions rights up to the maximum amount of the share issue. Such shares shall firstly be allotted to those who have also subscribed for shares by exercise of subscription rights, regardless of them being shareholders on the record date or not, pro rata in relation to the number of subscription rights which each person has exercised for subscription. Secondly, to others, pro rata in relation to their applied interest. To the extent that allotment in accordance to the above cannot be made pro rata, allotment shall be made by drawing of lots. Any remaining shares shall be allotted to those who have guaranteed the new share issue, pro rata in relation to the guaranteed amount.

Preliminary timetable for rights issue

May 12, 2021                                    Last day of trading in the share including subscription rights

May 14, 2021                                    First day of trading in the share excluding subscription rights

May 17, 2021                                    Record date for participation in the rights issue

May 19- June 2, 2021                      Subscription period

May 19-28, 2021                              Trading in subscription rights

June 7, 2021                                     Estimated date of announcement of the outcome of the rights issue

The Company will prepare a prospectus for the rights issue which will be published before the subscription period begins.

Adviser

Erik Penser Bank AB is Enzymatica’s financial adviser in connection with the rights issue. Mannheimer Swartling is the Company’s legal adviser.

The information in this press release is information that Enzymatica is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 8:30 CET on 29 March, 2021.

For more information, please contact:

Bengt Baron, Executive Chairman, Enzymatica AB
Phone: +46 (0)708-59 30 09 | Email: bengt.baron@outlook.com

Therese Filmersson, CFO och tf VD Enzymatica AB
Phone: +46 (0)708-40 72 24 | Email: therese.filmersson@enzymatica.com

Carl-Johan Wachtmeister, Communication manager Enzymatica AB
Phone: +46 (0)701-88 50 21 | Email: carl-johan.wachtmeister@enzymatica.com

About Enzymatica AB

Enzymatica AB is a Swedish life science company that develops and sells health care products for primarily conditions of the ear-nose-and-throat region. The products are based on a barrier technology that includes marine enzymes. The company’s first product is the medical device ColdZyme®, a mouth spray against common cold. The product has been launched in about 30 markets on 3 continents. The strategy is to continue to grow by developing more health care products and strengthening the company’s position in existing markets and expanding into new geographic markets through established partners. The company has its headquarters in Lund and is listed on Nasdaq First North Growth Market. For more information, visit: www.enzymatica.com and www.enzymatica.se/en/section/media/press-releases

Enzymatica’s certified adviser is Erik Penser Bank. Tel: +46 (0)8 463 83 00 E-mail: certifiedadviser@penser.se