(NGM:OBDU B) Obducat has entered a financing agreement with YA Global Master SPV Ltd (Yorkville) under which Obducat, on several occasions during a 48-month period, may issue new class B shares to Yorkville up to an aggregate amount of SEK 30 million.
“Our ability to choose if, and when, to access funds under this facility provides us with important flexibility going forward. The facility gives us a valuable additional financial resource to accomplish the commercialization of our product portfolio”, said Patrik Lundström, Chief Executive Officer of Obducat. Under the agreement, Obducat has a right but not an obligation to issue new class B shares to Yorkville on several occasions during a 48-month period up to an aggregate amount of SEK 30 million. The subscription price for new shares shall be 95 percent of the lowest daily volume weighted average price for Obducat’s class B share during five trading days after Obducat notifying Yorkville that a new issue under the facility will be made. Further, in connection with each new issue, Obducat has a right to determine a floor price below which the company will not issue any shares. No single new issue under the facility may exceed SEK 400,000 of proceeds. Further, Yorkville is only obliged to subscribe for such number of shares that Yorkville’s holdings in the company does not exceed 4.99 percent of the total number of shares in Obducat. The facility entails certain customary representations and warranties and covenants by Obducat to Yorkville. In consideration for Yorkville’s undertakings under the agreement, Yorkville is entitled to a fee of 1.5 per cent of the SEK 30 million committed amount. Obducat will also reimburse Yorkville for certain legal costs. The agreement is conditional upon approval by the general meeting of Obducat, including an initial authorization to issue new shares under the facility. A notice convening an extraordinary general meeting on 3 January 2011 for approval of the agreement is published shortly in the Official Swedish Gazette (Sw. Post- och Inrikes Tidningar) and Dagens Industri. The notice will also be made public today through a press release. As previously announced, Obducat is also carrying out a rights issue of convertibles with preferential rights for the company’s shareholders and warrant holders. For further information about the rights issue, please refer to Obducat’s press release of 30 November 2010. About YA Global/Yorkville For more information about Yorkville, please visit www.yorkvilleadvisors.com or contact us at +1 201-985 8300. Yorkville has offices in Jersey City, New Jersey; Jupiter, Florida; Denver, Colorado; London and Hong Kong as well as a joint venture agreement in Milan, Italy. This is information that Obducat AB is required to make public in compliance with the Swedish Securities Market Act. The information was submitted for publication on 16 December 2010 at 08.45 CET. For more information, please contact: Patrik Lundström, CEO: +46 40 36 21 00 or +703 27 37 38 Henri Bergstrand, Chairman of the Board: + 46 708 88 72 45 About Obducat AB Obducat AB is an innovative developer and supplier of technologies, products and processes used for the production and replication of advanced micro and nano structures. Obducat’s products and services are intended to serve the demands of companies within the information storage, semiconductor, printed circuit board, and sensor industries. Obducat’s technologies include electron beam and nano imprint technology. Obducat has offices in Sweden and the UK, with the headquarters located in Malmö, Sweden. The Obducat shares are publicly traded on the Swedish NGM stock exchange. Read more at www.obducat.com