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Preliminary result of Aerocrine’s rights issue

The subscription period for Aerocrine AB’s (Nasdaq Stockholm: AERO) rights issue ended on January 28, 2015 and according to the preliminary result the rights issue is oversubscribed. The company will thereby receive approximately SEK 445 million before transaction costs.


“With full subscription of the rights offering we have financial strength to realize long-term value creation for Aerocrine’s shareholders. We thank our shareholders for their firm belief in Aerocrine’s future success and profitability.” said Michael Shalmi, interim Chairman of the Board of Directors.

“The bulk of the capital injection will be targeted towards driving penetration in the US professional segment and achieving profitability. We will continue to establish FeNO as a standard of care, finalize our home device product and go-to market model.” said Scott Myers, CEO at Aerocrine.

In total, approximately 94 percent of the rights issue was subscribed for with the exercise of preferential rights. These subscriptions include certain larger shareholders, including Novo A/S, which have committed to subscribe for their respective pro rata shares, corresponding to, in aggregate, approximately 26 percent of the total rights issue.

Additionally, applications for subscription without the exercise of preferential rights have been received, corresponding to in aggregate approximately SEK 105 million, representing approximately 24 percent of the total rights issue proceeds.

Shares that have not been subscribed for with the exercise of preferential rights will be allotted to Arbejdsmarkedets Tillægspension (ATP) in accordance with the guarantee commitment agreement entered into with the Company as well as the principles outlined in the prospectus which was published on January 12, 2015.

Under the terms of the rights issue, each share in Aerocrine entitled the holder to seven (7) subscription rights and two (2) subscription rights entitled the holder to subscribe for one (1) new share at a subscription price of SEK 0.82 per share. Through the rights issue, Aerocrine’s share capital will increase by SEK 271,360,533.50 to SEK 349,068,727.50. The number of shares will increase by 542,721,067 to 698,137,454.

The last day of trading in paid subscribed shares (BTA) at Nasdaq Stockholm is expected to be February 20, 2015. The new shares are expected to start trading at Nasdaq Stockholm on February 24, 2015.

ABG Sundal Collier is acting as financial advisor and Mannheimer Swartling Advokatbyrå is acting as legal advisor to Aerocrine in connection with the rights issue.

For further information:

Scott Myers, Chief Executive Officer, Aerocrine AB, Phone: +1 970 368 0336 or +46 768 788 379

Marshall Woodworth, Chief Financial Officer, Aerocrine AB: +1 919 749 8748 or +46 709 695 219

Or visit

About Aerocrine

Aerocrine AB is a medical products company focused on the improved management and care of patients with inflammatory airway diseases. As the pioneer and leader in technology to monitor and manage airway inflammation, Aerocrine markets NIOX MINO® and NIOX VERO®. Both products enable fast and reliable management of airway inflammation and may therefore play a critical role in more effective diagnosis, treatment and follow-up of patients with inflammatory airway diseases such as asthma. Aerocrine is based in Sweden with subsidiaries in the U.S., Germany, Switzerland and the U.K. Aerocrine shares were listed on the Stockholm Stock Exchange in 2007.

|Aerocrine is required to disclose the information provided herein pursuant to|
|the Securities Markets Act and/or the Financial Instruments Trading Act. The |
|information was submitted for publication at 8:00 a.m. on February 2, 2015. |

Important information

The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in Aerocrine.

This press release may not be released, published or distributed, directly or indirectly, in or into Australia, Hong Kong, Japan, Canada, Singapore, South Africa, the United States or any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in a manner that contravenes such restrictions or would entail such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws.

No subscription rights, BTAs (interim shares) or new shares have or will be registered under the United States Securities Act of 1933 (“Securities Act”) or securities legislation in any state or other jurisdiction in the United States and may not be offered, subscribed, sold or transferred, directly or indirectly, within the United States, other than pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in accordance with securities laws in relevant state or other jurisdiction in the United States.

This press release may contain forward-looking statements which reflect Aerocrine’s current view on future events and financial and operational development. Words such as “intend”, “expect”, “anticipate”, “may”, “believe”, “plan”, “estimate” and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties as they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the actual outcome could differ materially from the forward-looking statements.

Source: Aerocrine