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Disclaimer

The information contained in this section of Azelio’s website is restricted and is not for release, publication or distribution, directly or indirectly, in whole or in part, in or into the United States, Australia, Hong Kong, Japan, Canada, New Zealand or any jurisdiction in which such release, publication or distribution would be unlawful or would require registration or other measures besides those required under Swedish law.

The information contained in this section of Azelio AB’s website is restricted and is not for release, publication or distribution, directly or indirectly, in whole or in part in, into or from the United States (including its territories and possessions, any state of the United States and the District of Columbia), Australia, Canada, Hong Kong, Japan, New Zealand or any jurisdiction where to do so might be unlawful or would require registration or other measures besides those required under Swedish law.

We apologise for any inconvenience this may cause.

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The information contained in this section of Azelio AB’s website is restricted and is not for release, publication or distribution, directly or indirectly, in whole or in part in, into or from the United States (including its territories and possessions, any state of the United States and the District of Columbia), Australia, Canada, Hong Kong, Japan, New Zealand or any jurisdiction where to do so might be unlawful or would require registration or other measures besides those required under Swedish law.

We apologise for any inconvenience this may cause.

Click here to return to the homepage.

Important information

Due to legal restrictions, the information on this part of the website is not directed at or accessible to certain persons. We kindly ask you to review the following information and provide the following confirmation each time you wish to access this part of the website. Please note that the terms set out below may be altered or updated and therefore it is important that you review them each time you visit this website. Your confirmation must be true and accurate.

The information contained in this section of Azelio AB’s (the "Company") website is not intended for, and must not be accessed by, or distributed or disseminated, directly or indirectly, in whole or in part, to persons resident or physically present in the United States of America (including its territories and possessions, any state of the United States and the District of Columbia, the "United States"), Australia, Canada, Hong Kong, Japan, New Zealand or any jurisdiction where to do so might constitute a violation of the local securities laws or regulations of such jurisdiction, and does not constitute an offer to sell or the solicitation of an offer to buy or acquire, any subscription rights, paid subscribed shares, shares or other securities of the Company in the United States, Australia, Canada, Hong Kong, Japan, New Zealand or any jurisdiction where to do so might constitute a violation of the local securities laws or regulations of such jurisdiction.

Any securities of the Company referred to on this website (the "Securities") have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The Securities have also not been and will also not be registered under the applicable securities laws of Australia, Canada, Hong Kong, Japan or New Zealand and, subject to certain exemptions, may not be offered or sold in or into or for the account or benefit of any person having a registered address in, or located or resident in, Australia, Canada, Hong Kong, Japan or New Zealand. There will be no public offer of the Securities in the United States, Australia, Canada, Hong Kong, Japan or New Zealand.

This information and offering are only addressed to and directed at persons in member states of the European Economic Area (the “EEA”) and the United Kingdom, who are “Qualified Investors” within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (the “Prospectus Regulation”). 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 Qualified Investors. This information should not be acted upon or relied upon in any member state of the EEA or the United Kingdom by persons who are not Qualified Investors.

The information contained in this section of the Company’s website is only being distributed to and is only directed at (i) persons who are outside the United Kingdom; (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above 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 persons. Any person who is not a relevant person should not act or rely on the information contained in this section of the Company’s website.

Access to the information and documents contained on the following websites may be illegal in certain jurisdictions, and only certain categories of persons may be authorized to access such information and documents. All persons residing outside of Sweden who wish to have access to the documents contained on this website should first ensure that they are not subject to local laws or regulations that prohibit or restrict their right to access this website or require registration or approval for any acquisition of Securities by them. No such registration or approval has been obtained outside Sweden. The Company assumes no responsibility if there is a violation of applicable law and regulations by any person.

I therefore certify that:

  1. I am (i) resident and physically present outside the United Kingdom, the United States, Australia, Canada, Hong Kong, Japan, New Zealand or any jurisdiction where access to this part of the website or such release, publication or distribution, directly or indirectly, in whole or in part, would be unlawful or would require registration or other measures besides those required under Swedish law or (ii) a Qualified Investor within the EEA or a Qualified Investor and a Relevant Person in the United Kingdom;
  2. I am resident and physically present (a) in Sweden or (b) outside Sweden and each of the jurisdictions referred to in clause (1) above and, in that case, I am authorized to access the information and documents on this website without being subject to any legal restriction and without any further action required by the Company; and

  1. I am authorised to access the information contained in this section of the Company’s website without being subject to any legal restriction and without any further action required by the Company.

I have read, understand and agree to comply with all of the restrictions set forth above.

The information contained in this section of Azelio AB’s website is restricted and is not for release, publication or distribution, directly or indirectly, in whole or in part in, into or from the United States (including its territories and possessions, any state of the United States and the District of Columbia), Australia, Canada, New Zealand, Hong Kong, Japan or any jurisdiction where to do so might constitute a violation of the local securities laws or regulations of such jurisdiction.

10th of March 2021

Azelio intends to carry out a directed share issue of up to approximately 10.6 million shares

Azelio AB (publ) (“Azelio” or the “Company”) hereby announces its intention to, based on the authorization given by the annual general meeting on 14 May 2020, carry out an issue of shares of up to approximately 10.6 million shares, directed to Swedish and international institutional investors (the “Share Issue”). The Company has engaged Carnegie Investment Bank AB (publ), Pareto Securities AB and Bryan, Garnier & Co as Joint Bookrunners in connection with the Share Issue. The subscription price and the total number of new shares in the Share Issue will be determined through an accelerated bookbuilding procedure (the “Bookbuilding”). The Bookbuilding will commence immediately following the publication of this press release. Pricing and allocation of the new shares are expected to take place before the commencement of trading on Nasdaq First North Growth Market at 09:00 CET on 11 March 2021. The timing of the closing of the Bookbuilding, pricing and allocation are at the discretion of the Company after consultation with the Joint Bookrunners. The Company will announce the outcome of the Share Issue in a press release after the closing of the Bookbuilding.

The purpose of the Share Issue is to finance the continued industrialization of Azelio’s Thermal Energy Storage (TES) and Stirling-based electricity production technology with the objective to start series production in the third quarter of 2021, and to be able to finance additional development projects and general corporate purposes. As communicated in the Company’s year-end report, the expected growing business volumes bind working capital, particularly at the start of series production and in the early stages of commercialization of the product. At this stage, working capital is also particularly sensitive to shifts in cash flows. This risk is amplified by the pandemic, for example, with restrictions on movement that could affect the start and completion of projects. Accordingly, the Board of Directors of Azelio has made the assessment that the Company’s working capital need has increased and therefore intends to carry out the Share Issue. The proceeds from the Share Issue, together with existing cash, are expected to be sufficient to fund the Company’s business plan until the operations are cash-flow positive, which is expected to occur during 2022. The Board of Directors of Azelio has resolved to deviate from the shareholders’ pre-emption rights to ensure the most time- and cost-effective financing of its continued industrialization.

Members of the board and the management team have agreed, subject to certain exceptions, not to sell shares in Azelio for a period of 90 calendar days after the settlement date. In addition to customary exceptions, members of the board and management team may during the lock-up period sell shares for the purpose of financing the exercise of warrants or call options related to Azelio shares. Furthermore, the Company has agreed, with certain exceptions, not to carry out any additional future share issuances for a period of 180 calendar days after the settlement date.

The Share Issue is, among other things, subject to resolution by the Board of Directors of Azelio, based on the authorization given by the annual general meeting on 14 May 2020 to issue new shares following close of the Bookbuilding.

Advisers

Carnegie Investment Bank AB (publ), Pareto Securities AB and Bryan, Garnier & Co act as Joint Bookrunners in connection with the Share Issue. Advokatfirman Vinge acts as legal adviser to Azelio and Baker McKenzie acts as legal adviser to the Joint Bookrunners.

For further information, please contact

Jonas Eklind – CEO Azelio
Email: jonas.eklind@azelio.com
Tel: +46 70 940 35 80

This is information that Azelio AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17.31 CET on 10 March 2021.

About Azelio
Azelio specializes in energy storage with electricity and heat production. The technology is revolutionary in that the energy becomes dispatchable, making renewable energy available around the clock. The energy is stored in recycled aluminium from which it is converted into electricity and heat with a total efficiency of up to 90 percent. The solution is scalable, sustainable, and cost-efficient from 0.1 MW up to 100 MW. Azelio has approx. 160 employees with headquarters in Gothenburg, production in Uddevalla and development centres in Gothenburg and Åmål, as well as presence in Stockholm, Beijing, Madrid and Ouarzazate. Azelio is listed on Nasdaq Stockholm First North Growth Market with FNCA Sweden AB as Certified Adviser: +46(0)8-528 00 399, info@fnca.se. More about Azelio: www.azelio.com