Hoylu AB’s Rights Issue Oversubscribed

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Stockholm, Sweden, June 10, 2020 – Hoylu, a leader in visual collaboration solutions for distributed teams, today announced the preliminary results for its Rights Issue. During the subscription period which ended on 8 June 2020, a total number of ...

Stockholm, Sweden, June 10, 2020 – Hoylu, a leader in visual collaboration solutions for distributed teams, today announced the preliminary results for its Rights Issue.

During the subscription period which ended on 8 June 2020, a total number of 12,225,989 shares have been subscribed for which represents approximately 167 per cent of the maximum number of shares in the Rights Issue. Through the Rights Issue, the company will receive proceeds amounting to approximately SEK 11 million. 1,826,881 shares, equal to approximately 25 per cent of the Rights Issue, have been subscribed for through subscription rights and 10,399,108 shares, equal to approximately 142 per cent of the Rights Issue, have been subscribed for without subscription rights.

The final outcome of the Right Issue will be published on or about 12 June 2020 following the board of directors’ approval of the subscriptions and allotment in accordance with the terms and conditions for the Rights Issue.

For more information, please contact:
Stein Revelsby, CEO at Hoylu +1 213 440 2499 Email: sr@hoylu.com
Karl Wiersholm, CFO at Hoylu +1 425 829 2316 Email: kw@hoylu.com

About Hoylu
Hoylu’s mission is to make remote work and information sharing easy. Through our customizable Connected Workspaces™ we deliver software solutions for companies, organizations and individuals across virtually all industries that enable all teams, big and small to work efficiently and securely in an intuitive and easy workflow. For more information: www.hoylu.com.

Ticker symbol: Hoylu
Marketplace: Nasdaq First North Growth Market
Certified Adviser: Mangold Fondkommission AB +46 (0) 8 50 301 550, ca@mangold.se

Important notice
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in the Company.

This press release may not be released, published or distributed, directly or indirectly, in or into Australia, Japan, Canada, the United States or any other jurisdiction where participation would require additional prospectuses, registration or measures besides those required by Swedish law. Nor may this press release be distributed in or into such countries or any other country or jurisdiction in which distribution requires such measures or otherwise would be in conflict with applicable regulations. Any failure to comply with the restrictions described may result in a violation of applicable securities regulations.

The subscription rights, paid subscribed shares and shares in the Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or the securities legislation of any state or other jurisdiction in the United States and no subscription rights, paid subscribed shares or shares may be offered, subscribed for, exercised, pledged, sold, resold, granted, delivered or otherwise transferred, directly or indirectly, in or into the United States except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements under the Securities Act and in compliance with the securities legislation in the relevant state or any other jurisdiction of the United States. There will be no public offering of such securities in the United States.

Publication
This information is information that Hoylu AB 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 above, at 23:45 CEST on June 10, 2020.

Source(s) : Hoylu AB

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