Swiss Steel Holding AG successfully completes capital increase with gross proceeds of CHF 247 million
FOR RELEASE IN SWITZERLAND - NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.
Lucerne, 16 March 2021 - Swiss Steel Holding AG today announces that a total of 1,030,524,138 new registered shares were placed in connection with its capital increase, of which 905,622,732 new shares were subscribed for by existing shareholders in the rights offering and 124,901,406 new shares were placed with investors in the bookbuilding process ('International Offering'). The offer price was set at CHF 0.24 per new share.
Swiss Steel Holding AG will raise gross proceeds of CHF 247 million from the capital increase. The net proceeds of approximately CHF 241 million from the capital increase will be used to strengthen the equity of Swiss Steel Holding AG and to repay certain amounts under its credit facilities.
As a result of the capital increase, the share capital of Swiss Steel Holding AG will increase from CHF 304,249,999.95 by CHF 154,578,620.70 to CHF 458,828,620.65, divided into 3,058,857,471 registered shares with a nominal value of CHF 0.15 each.
BigPoint Holding AG has exercised all of its subscription rights in the rights offering and together with the shares allocated in the International Offering, is expected to hold approximately 51.3% of Swiss Steel Holding AG's share capital and voting rights upon completion of the offering.
The listing on SIX Swiss Exchange, first trading day and delivery of the new shares is expected to be on 23 March 2021.
Credit Suisse and UBS acted as Joint Global Coordinators and Joint Bookrunners in the rights offering.
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About Swiss Steel Group
The Swiss Steel Group is currently one of the world's leading providers of customized solutions in the field of special long steel products. The Group is also one of the leading manufacturers in the global market for both tool steel and stainless long steel and is one of the two largest companies in Europe for alloyed and high-alloy quality & engineering steel. With close to 10,000 employees at its own production and distribution companies in over 30 countries across five continents, the Company supports and supplies its customers around the globe and offers them a full product portfolio from Production and Sales & Services. They benefit from the Company's technological expertise, consistently high product excellence across the globe, and in-depth knowledge of local markets.
This document is not an offer to sell or a solicitation of offers to purchase or subscribe for shares. This document is not a prospectus within the meaning of Article 35 et seqq. of the Swiss Federal Act on Financial Services and not a prospectus under any other applicable laws. Copies of this document may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction.
A decision to invest in securities of Swiss Steel Holding AG should be based exclusively on the offering prospectus and any supplements published by Swiss Steel Holding AG (the "Company") for such purpose. Copies of the prospectus and any supplement will be available free of charge in Switzerland expected from 8 March 2021 for 12 months following the first trading day at Credit Suisse AG, Zurich, Switzerland (email: email@example.com) or at UBS AG, Prospectus Library, P.O. Box, 8098 Zurich, Switzerland (Telephone: +41 (0) 44 239 47 03 (answering machine); Fax: +41 (0) 44 239 69 14; email: firstname.lastname@example.org).
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The information contained herein does not constitute an offer of securities to the public in the United Kingdom. No prospectus offering securities to the public will be published in the United Kingdom. This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "FSMA Order") or (iii) persons falling within Articles 49(2)(a) to (d), "high net worth companies, unincorporated associations, etc." of the FSMA Order, and (iv) persons to whom an invitation or inducement to engage in investment activity within the meaning of Section 21 of the Financial Services and Markets Act 2000 may otherwise be lawfully communicated or caused to be communicated (all such persons together being referred to as "relevant persons"). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant per-sons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA member state is only addressed to qualified investors in that member state within the meaning of Regulation (EU) 2017/1127 and such other persons as this document may be addressed on legal grounds, and no person that is not a relevant person or a qualified investor may act or rely on this document or any of its contents.
This publication may contain specific forward-looking statements, e.g. statements including terms like "believe", "assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of Swiss Steel Holding AG and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward-looking statements. Swiss Steel Holding AG assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.
Except as required by applicable law, Swiss Steel Holding AG has no intention or obligation to update, keep updated or revise this publication or any parts thereof (including any forward-looking statement) following the date hereof.
None of the underwriters or any of their respective subsidiary undertakings, affiliates or any of their respective directors, officers, employees, advisers, agents, alliance partners or any other entity or person accepts any responsibility or liability whatsoever for, or makes any representation, warranty or undertaking, express or implied, as to the truth, accuracy, completeness or fairness of the information or opinions in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the group, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. Accordingly, each of the underwriters and the other foregoing persons disclaim, to the fullest extent permit-ted by applicable law, all and any liability, whether arising in tort or contract or that they might otherwise be found to have in respect of this announcement and/or any such statement.