PHI enters into underwriting commitment with Altium in ongoing exercise of TO 3 warrants

April 21, 2023

Phase Holographic Imaging PHI AB (“PHI” or the “Company”) hereby announces that the Company’s largest shareholder Altium SA (“Altium”) and PHI has agreed on an underwriting commitment (so-called “top-down” or “top guarantee”) free-of-charge in the ongoing exercise of warrants of series TO 3 (“TO 3”). The underwriting commitment covers approx. SEK 1.5 million, corresponding to approx. 12 percent of the issue proceeds that the Company can receive through the exercise of TO 3. Altium has, as previously communicated, also exercised its TO 3 to subscribe for new shares in PHI.

In the ongoing exercise of TO 3, PHI has agreed on an underwriting commitment with Altium. The underwriting commitment covers approx. SEK 1.5 million, corresponding to approx. 12 percent of the issue proceeds that the Company can receive through the exercise of TO 3.

The underwriting commitment is a so-called “top-down guarantee” or “top guarantee”, which means that if TO 3 is exercised to 88 percent, underwriting subscription is executed for the remaining 10 percent up to a fully subscribed TO 3. The underwriting commitment is thus added to the current subscription level for TO 3 and aims to ensure the last part of the subscription in the warrant exercise in case all TO 3 are not exercised by existing holders. No compensation is paid for the underwriting commitment. The underwriting commitment has not been secured through advance transaction, bank guarantee or similar.

If underwriting commitment is activated, subscription of shares will take place through a directed share issue which will be carried out after the exercise period for TO 3 has ended. Subscription in such directed new share issue will take place to the established price for TO 3 and only to the extent that TO 3 has not been exercised by existing holders within the context of the size of the underwriting commitments (equivalent to a maximum of 400,000 shares in the Company). The Board of Directors will not decide on the directed share issue to use the underwriting commitment in case the Board of Directors does not consider it justifiable taking into account a customary issue cost.

Advisors

In connection with the exercise of warrants of series TO 3, Sedermera Corporate Finance AB is acting as financial advisor, Markets & Corporate Law Nordic AB as legal advisor and Nordic Issuing AB as issuing agent. Shark Communication AB is assisting the Company with advice regarding communication.

This disclosure contains information that Phase Holographic is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 21-04-2023 08:04 CET.

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