The subscription period in OXE Marine’s rights issue begins today

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, NEW ZEALAND, JAPAN, HONG KONG, SOUTH KOREA, SINGAPORE, SOUTH AFRICA, SWITZERLAND, RUSSIA OR BELARUS OR ANY OTHER STATE OR JURISDICTION IN WHICH RELEASE, DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES UNDER APPLICABLE LAW.

Today, 8 November 2024, the subscription period begins for OXE Marine AB's (publ) ("OXE Marine" or the "Company") upcoming share issue with preferential rights for existing shareholders (the "Rights Issue"), which was decided by the extraordinary general meeting on 28 October 2024. The subscription period for the Rights Issue runs from 8 November 2024 to 22 November 2024.

Please note that certain banks and custodians may have an earlier deadline for subscription in the Rights Issue. Shareholders should therefore check with their bank or custodian if they have an earlier deadline for subscription.

Summary of the Rights Issue
The Rights Issue comprises a minimum of 171,428,572 shares and a maximum of 222,845,378 shares.

Through the Rights Issue, the Company will receive a minimum of just over SEK 60 million and a maximum of approximately SEK 78 million before issue costs.

Those who were registered as shareholders in OXE Marine on the record date of 6 November 2024 have preferential rights to subscribe for shares in the Company based on their existing shareholding in the Company. For one (1) existing share on the record date, shareholders receive two (2) subscription rights. Holding three (3) subscription rights entitles the holder to subscribe for one (1) new share in the Rights Issue.

The subscription price in the Rights Issue is SEK 0.35 per share.

Several of the Company's shareholders have committed to invest approximately SEK 37 million, i. E., 48 percent of the gross proceeds from the Rights Issue. In addition, the Company has entered into guarantee commitments with several existing shareholders, corresponding to approximately 29 percent of the Rights Issue. Thus, the Rights Issue is covered by subscription and guarantee commitments that together correspond to approximately 77 percent of the Rights Issue. However, neither the subscription undertakings nor the guarantee commitments have been secured through pre-transaction, bank guarantee, or similar. The subscription undertakings and guarantee commitments are further conditional on the other parts of the recapitalization announced by the Company on September 16, 2024, being carried out without significant deviations.

Full terms and instructions for the Rights Issue and other information about the Company are provided in the prospectus published on 6 November 2024 (the "Prospectus").

Preliminary timetable for the Rights Issue

8 November 2024 – 19 November 2024: Trading in subscription rights on Nasdaq First North Growth Market

8 November 2024 – 22 November 2024: Subscription period in the Rights Issue

3 December 2024 – 11 December 2024: Estimated trading in BTA

26 November 2024: Estimated announcement of final outcome in the Rights Issue

The Rights Issue has a minimum and maximum amount. This means that if the subscription (with or without preferential rights) of shares corresponding to at least SEK 60 million, i. E., at least 171,428,572 shares, is not obtained, the decision regarding the Rights Issue will be cancelled, and the Rights Issue will thus not be completed. The Company has received subscription undertakings and guarantee commitments exceeding the minimum amount of the Rights Issue, however, conditional upon the recapitalisation being completed without any material deviations. If the Rights Issue is not completed, no new shares will be issued or delivered, even if the subscription rights have been acquired through payment.

NOTE THAT IF THE RIGHTS ISSUE IS NOT COMPLETED, SUBSCRIPTION RIGHTS THAT INVESTORS HAVE ACQUIRED ON NASDAQ FIRST NORTH GROWTH MARKET WILL THUS BE WORTHLESS, AND NEITHER THE LIQUIDITY PAID FOR SUCH SUBSCRIPTION RIGHTS IN THE MARKET NOR ANY BROKERAGE FEES WILL BE REFUNDED. INVESTORS WHO ACQUIRE SUBSCRIPTION RIGHTS IN THE MARKET THEREFORE RISK LOSING THE ENTIRE AMOUNT THEY HAVE PAID FOR THE SUBSCRIPTION RIGHTS.

If the Rights Issue is not completed, the BTAs will be cancelled and all proceeds paid for subscription of shares in the Rights Issue will be refunded. The repayment of the proceeds will be made to each holder of BTAs at the time of repayment, which is expected to occur eight banking days after the last day of subscription.

Advisors
Redeye AB is acting as financial advisor to the Company. Moll Wendén Advokatbyrå AB is acting as legal advisor to OXE Marine. Aqurat Fondkommission AB acts as the issuing agent in connection with the Rights Issue.