Rights issue 2023

The Board of Directors of Nelly Group AB (publ) decided on February 3, 2023, subject to approval at the Extraordinary General Meeting on March 14, 2023, on a new issue of shares with preferential rights for existing shareholders of approximately 50 MSEK. The purpose of the Rights Issue is to secure liquidity and enable Nelly to continue its transformation towards profitability.

Summary

• Those who are registered as shareholders in Nelly on the record date will receive one (1) subscription right for each share in the Company held. Three (3) subscription rights entitle to subscription for two (2) ordinary shares.
• The subscription price is SEK 4.42 per ordinary share. Provided that the Rights Issue is fully subscribed, Nelly will consequently raise approximately SEK 53 million before deduction of issue costs, which are estimated at approximately SEK 5 million.
• The record date for the right to participate in the Rights Issue with preferential rights is 21 March 2023 and the subscription period runs from and including 23 March 2023 up to and including 6 April 2023.
• Nelly’s three largest shareholders, Rite Ventures, Stefan Palm (through company) and Mandatum, holding in aggregate approximately 51 percent of the total number of shares and votes in Nelly, have undertaken to vote in favour of the Rights Issue at the Extraordinary General Meeting, to subscribe for ordinary shares in the Rights Issue corresponding to their respective pro rata portion and to guarantee their respective pro rata portion of the part of the Rights Issue not covered by subscription commitments. The Rights Issue is thus fully secured through subscription commitments and guarantee undertakings.
• Complete information regarding the Rights Issue and information about the Company is presented in the prospectus which was published 17 March 2023.

Indicative timetable for the Rights Issue

Press releases

Publication of prospectus relating to Nelly’s rights issue
Nelly announces the terms of its fully secured rights issue of approximately SEK 53 million
Nelly resolves on a fully secured rights issue of approximately SEK 50 million
Nelly’s rights issue is oversubscribed

Documents

Application form
Annual Report 2021
Year-end Report 2022
Certificate of Registration (in Swedish only)
Prospectus Nelly Group AB (publ) - (in Swedish only)
Articles of association accepted at EGM on 14 March 2023 (in Swedish only)