BBS-Bioactive Bone Substitutes Plc’s rights issue raised gross proceeds of EUR 3.5 million

BBS-Bioactive Bone Substitutes Plc, Company Announcement, Insider information, 8 June 2022 2.30 p.m. (CEST)

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BBS-Bioactive Bone Substitutes Plc’s rights issue raised gross proceeds of EUR 3.5 million

The rights issue resolved by BBS-Bioactive Bone Substitutes Plc’s (“BBS” or the “Company”) Board of Directors on 6 May 2022 (the “Offering”) has been subscribed to 77 percent. The Company raised proceeds of approximately EUR 3.5 million from the Offering before deduction of issuance costs and fees.

The Board of Directors of the Company resolved on 8 June 2022 to approve the subscriptions received in the Offering. A total of 1,972,571 shares (approximately 73 per cent of the subscribed shares) have been subscribed based on the subscription rights and a total of 717,363 shares (approximately 27 per cent of the subscribed shares) without subscription rights. For a total of 153,846 shares subscribed for in the Offering and for the related additional warrants, the acceptance is conditional to payment of the subscribed offer shares on 10 June 2022 at the latest.

The shares subscribed for in the Offering are expected to be registered with the Finnish Trade Register approximately on 16 June 2022. Combination of the temporary shares with the Company’s existing shares will occur in the book-entry system maintained by Euroclear Finland Oy approximately on 17 June 2022 and in the book-entry system maintained by Euroclear Sweden AB approximately on 23 June 2022. The new shares subscribed for in the Offering will be subject to trading together with the Company’s existing shares approximately on 20 June 2022 on First North Growth Market Finland and approximately on 23 June 2022 on First North Growth Market Sweden.

As a result of the Offering the number of shares in BBS will increase by 2,689,934. After the Offering the total number of shares will amount to 9,671,459, of which the number of treasury shares held by the company 234,523. The number of warrants subscribed for in connection with the Offering amounts to 670,962 of two different series (TO1 and TO2).

BBS will in total receive approximately EUR 3.1 million net proceeds through the Offering (after deduction of transaction costs associated with the Offering). Approximately EUR 0.2 million of the net proceeds, corresponding to the subscription price paid by RiverFort Global Opportunities PCC Ltd (“RiverFort”) in the Offering, will be used for repayment of RiverFort’s loan receivable from the Company in accordance with the terms and conditions of RiverFort’s subscription commitment.

BBS’ CEO Ilkka Kangasniemi: “I want to thank all the subscribers for their continued trust towards the Company, which enabled us to execute the Offering in spite of the generally challenging situation of the financial markets.”

Advisers

Aalto Capital Partners Oy is acting as financial advisor to the Company in the Offering. Smartius Oy is acting as the legal adviser to the Company on aspects of the Offering related to the Finnish law.

BBS-BIOACTIVE BONE SUBSTITUTES PLC

For more information:

Ilkka Kangasniemi, CEO,
tel. +35840 7080307, e-mail: ilkka.kangasniemi@bbs-artebone.fi

Liisa Hukka, CFO,
tel. +35840 0611038, e-mail: liisa.hukka@bbs-artebone.fi

Certified Advisor:
Nordic Certified Adviser AB, tel. +46 70 551 67 29, info@certifiedadviser.se

BBS-Bioactive Bone Substitutes Plc discloses the information provided herein pursuant to the Market Abuse Regulation ((EU) No 596/2014, ”MAR”). The information was submitted for publication by the aforementioned person on 8 June 2022 at 2.30 p.m. (CEST).

BBS-Bioactive Bone Substitutes is a health technology company that started operations in 2003. We have developed a new product for the treatment of severe bone fractures and lumber problems. Our goal is to provide a new generation of medical products for the treatment of bone damage in orthopaedic surgery. In the pharmaceutical sector, development and research requires perseverance and courage to develop new things. We have evidence of this for over 20 years. Our activities are characterised by top expertise, innovation and employees who are enthusiastic and committed to their work. The ARTEBONE ® in the final stages of product development, and we are looking for a CE marking that enables commercialisation in the EU. We are a company in Oulu with a pharmaceutical factory permit in Reisjärvi.

BBS-Bioactive Bone Substitutes Oyj:n shares have been listed in Nasdaq First North Growth Market Finland and Nasdaq First North Growth Market Sweden.

More information: www.bbs-artebone.fi

IMPORTANT NOTICE

This release or the information contained therein shall not be distributed, directly or indirectly, in Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or the United States. The information contained in this release do not constitute an offer of, or invitation to purchase any securities in any area, where offering, procurement of or selling such securities would be unlawful prior to registration or exemption from registration or any other approval required by the securities regulation in such area. This release is not an offer for sale of securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended, and the rules and regulations issued by virtue of it. BBS has not registered, and does not intend to register, any offering of securities in the United States. No actions have been taken to register the shares or the offering anywhere else than in Finland and Sweden.

The information contained herein shall not constitute an offer of, or invitation to purchase any securities in any jurisdiction. This release is not a prospectus and does not constitute any offer, invitation or investment advice to subscribe for or purchase securities. Investors should not subscribe for or purchase any securities or make any investment decisions referred to herein except on the basis of information contained in a prospectus issued by BBS.