BBS-Bioactive Bone Substitutes Plc has received new subscription undertakings and supplements the Investor Memorandum dated 24th of November 2023 relating to the rights offering and publishes updated Basic Information Document

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BBS-Bioactive Bone Substitutes Plc, Company Announcement, 26th of November 2023 at 6.40 p.m. EET

BBS-Bioactive Bone Substitutes Plc has received new subscription undertakings and supplements the Investor Memorandum dated 24th of November 2023 relating to the rights offering and publishes updated Basic Information Document

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN PART, DIRECTLY OR INDIRECTLY, IN THE USA, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH PUBLICATION OR DISTRIBUTION IS UNLAWFUL.

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BBS-Bioactive Bone Substitutes Plc (“BBS” or the “Company”) has announced on 20th of November 2023 that based on authorization granted by the Extraordinary General Meeting on 23rd of October 2023, the Board of Directors of the Company has decided to arrange a rights offering totalling approximately EUR 2.63 million (the “Offering”). The Offering consists of a maximum of 6,578,481 new shares (the “Offer Shares”).

In addition to the subscription undertakings published by the Company on 24th of November 2023, the Company has received the subscription undertakings from Panvest Oy (162,000 EUR) and the Company’s CEO Juliusz Rakowski (10,000 EUR). Therefore, the total amount of subscription undertakings has reached 0.93 million euros and the certain current shareholders of the Company and two new investors have committed to subscribe for approximately 35.3 percent of the Offer Shares offered in the Offering. The Company has received the following subscription undertakings to subscribe for Offer Shares in connection with the Offering:

Shareholder subscribing for Offer Shares Subscription undertaking (shares) Subscription undertaking (EUR)
Municipality of Reisjärvi 831,000 332,400
Finha Capital Oy 700,000 280,000
Panvest Oy 405,000 162,000
Muuraus ja Rappaus Saarimaa Oy 127,500 51,000
Riverfort Global Opportunities PCC Limited 125,000 50,000
Pekka Jalovaara 50,000 20,000
Jyrki Halonen 35,000 14,000
Juliusz Rakowski 25,000 10,000
Jarmo Halonen 25,000 10,000
Total 2,323,500 929,400

The Company has not received or requested collaterals from the parties that have committed to subscribe for the Offer Shares in the Offering on the basis of subscription undertakings.

The Company has published on 24th of November 2023, in connection with the Offering, the Investor Memorandum (“Investor Memorandum”) as well as the Basic Information Document in accordance with Chapter 3, Section 2 of the Finnish Securities Markets Act (746/2012, as amended) (“Basic Information Document”). The Company has today published a supplement to the Information Memorandum and the updated Basic Information Document, both of which are available on the Company’s website https://www.bbs-artebone.fi/investors/share-issue-2023-11/.

The supplements to the documents includes new information regarding the new subscription undertakings announced in this Company Announcement as well as the quality system approval which was announced by the Company on 25th of November 2023 through a Press release.

For more information, please contact:

Juliusz Rakowski, CEO
+358 50 448 5132
[email protected]

Certified Advisor:
Nordic Certified Adviser AB,
+46 70 551 67 29,
[email protected]

BBS in brief

BBS -Bioactive Bone Substitutes Plc is a orthobiology company that started its operations in 2003. We have developed a new product for the treatment of complex bone fractures and bone healing issues. Our goal is to provide next-generation medical products for the treatment of bone injuries in orthopedic surgery. In the pharmaceutical industry, the development and research work require perseverance and courage to innovate. We have a track record of over 20 years in this field. Our company is characterized by expertise, innovation, and dedicated employees who are passionate about their work. Our first developed product, ARTEBONE® Paste, is in the final stages of the CE marking process to enable its commercialization in the EU market. We are based in Oulu with a medical manufacturing facility in Reisjärvi, holding a manufacturing license. The company’s headquarters are in Oulu, and we employ over 20 people.

BBS has been listed on Nasdaq First North Growth Market Finland since February 2018.

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.

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 the investor memorandum and basic information document issued by BBS.

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