Irisity AB: The subscription period in Irisity's rights issue begins today

NOT FOR RELEASE, DISTRIBUTION, OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, THE UNITED STATES OR IN ANY OTHER JURISDICTION WHERE SUCH RELEASE, DISTRIBUTION, OR PUBLICATION WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURES BEYOND WHAT IS REQUIRED UNDER SWEDISH LAW. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.

Today, November 13, 2024, the subscription period begins for Irisity AB's (publ) ("Irisity" or the "Company") rights issue of units amounting to approximately SEK 70.6 million, which was announced on October 1, 2024 (the "Rights Issue"). The subscription period runs until November 27, 2024. Please note that some banks and custodians may have an earlier final response date for subscription in the Rights Issue. Shareholders should therefore check with their bank or custodian if they have an earlier response date for subscription of shares.

• Eight (8) unit rights entitle the holder to subscribe for one (1) Unit, consisting of seven (7) newly issued shares and one (1) newly issued warrant of series 2024/2025:1.
• The subscription price is SEK 8.40 per Unit, corresponding to SEK 1.20 per share. The warrants are issued free of charge.
• Certain existing shareholders, including Gustav Andersson via Stockhorn Capital AB and Ulf Runmarker, privately and via companies, have entered subscription commitments totaling approximately SEK 25.6 million, corresponding to 36.3 percent of the Rights Issue.
• In addition to subscription commitments, a number of external investors, including Fenja Capital AS, individually and not jointly, have entered into guarantee commitments totaling approximately SEK 30.9 million, corresponding to 43.7 percent of the Rights Issue. Thus, the Rights Issue is guaranteed to approximately 80.0 percent through subscription commitments and guarantee commitments.
• The subscription period for the Rights Issue runs from November 13, 2024, to November 27, 2024.
• Trading in BTU (Paid Subscribed Unit) will take place on Nasdaq First North Growth Market from November 13, 2024, to December 9, 2024.
• Upon full subscription of the newly issued shares, the Company will receive net proceeds of approximately SEK 47.6 million, after set-offs of approximately SEK 15.3 million (from Stockhorn Capital AB and Anders Trygg, via companies) and deduction of issue costs of approximately SEK 7.7 million. Irisity intends to use the net proceeds to finance the repayment of bridge loans, upcoming market expansion including new generative AI usage, and general working capital needs.
• The exercise period for the exercise of Warrants will be from May 27, 2025, to June 10, 2025. The subscription price upon exercise of Warrants is SEK 1.50 per share.

Prospectus

For complete information about the Rights Issue, please refer to the prospectus published on November 8, 2024, available on the Company's and Carnegie Investment Bank's respective websites (https://irisity.com, www.carnegie.se). These websites also contain a link to the subscription form for subscription. Note that shareholders with nominee-registered holdings subscribe for the Rights Issue, both with and without the support of subscription rights, through their nominee.

Advisors

Irisity has mandated Penser by Carnegie, Carnegie Investment Bank AB (publ) and Advokatfirman Vinge KB as financial and legal advisors respectively in connection with the Rights Issue.

For further information, please contact:

Keven Marier, CEO, Irisity AB, +46 771 41 11 00, keven.marier@irisity.com.

About Irisity

Irisity's AI Open Platform enhances any camera and video management system by integrating a choice of advanced AI and video metadata management featuring hybrid architecture, built-in anonymization, and flexible deployment (on-premises, cloud, or hybrid). Globally trusted in over 3000 locations, our platform delivers real-time, efficient, and precise data, augmenting human decisions to improve safety, operational efficiency and organizational intelligence.

The Irisity AB (publ) share is listed on Nasdaq First North Growth Market, with the ticker IRIS, the Company's Certified Adviser is Carnegie Investment Bank AB.

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https://irisity.com

Important Information

This press release does not constitute an offer to sell, or a solicitation of an offer to buy or acquire, shares or other securities in the Company. Copies of this press release are not made and may not be distributed or otherwise sent to the United States, Australia, Hong Kong, Japan, Canada, New Zealand, Singapore, South Africa, South Korea, or any other jurisdiction where such action may be illegal or would require registration or other measures beyond those required under Swedish law.

The securities described in this press release have not been and will not be registered under the United States Securities Act of 1933 (the "Securities Act") and may not be exercised, offered, sold, resold, delivered, or otherwise transferred, directly or indirectly, in or into the United States, except pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with applicable securities laws in the relevant state or other jurisdiction of the United States. The Company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States.

Forward-Looking Statements

Matters discussed in this press release may contain forward-looking statements. Forward-looking information is any statement that does not relate to historical facts and events and such statements that are attributable to the future and that, for example, contain expressions such as "believes," "estimates," "expects," "assesses," "awaits," "assumes," "anticipates," "intends," "may," "will," "shall," "should," "according to estimates," "is of the opinion," "might," "plans," "continues," "potential," "calculates," "forecasts," "as far as one knows," or similar expressions. This applies in particular to statements regarding future results, financial position, cash flow, plans and expectations for the Company's operations and management, future growth and profitability, and general economic and regulatory environment as well as other circumstances affecting the Company, many of which are in turn based on further assumptions, such as that no changes in existing political, legal, tax, market, or economic conditions or in applicable legislation occur (including, but not limited to, accounting principles, accounting methods, and tax policies), which individually or together could be significant for the Company's results or its ability to conduct its business. Although the Company considers these assumptions to be reasonable when made, they are inherently subject to significant known and unknown risks, uncertainties, unforeseen events, and other important factors that are difficult or impossible to predict and that are beyond the Company's control. Such risks, uncertainties, unforeseen events, and other important factors could cause actual events to differ materially from the expectations expressed or implied in such forward-looking statements.

Potential investors should therefore not place undue reliance on the forward-looking information herein, and potential investors are strongly encouraged to read the sections of the prospectus that include a more detailed description of factors that may affect the Company's operations and the market in which the Company operates.

The information, positions, and forward-looking statements contained in this press release are valid only as of the date of this press release and may be subject to change without notice.