Adapteo Group: Adapteo successfully completes private placement of new shares to raise proceeds of SEK 386 million

Adapteo Plc - Inside information - 10 December 2020 at 11.30 p.m. CET

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Adapteo Plc ("Adapteo") hereby announces the result of the offering of new shares (the "Placing Shares") in a private placement to institutional and other qualified investors (the "Placing"). Adapteo announced the launch of the Placing by way of a stock exchange release published on 10 December 2020.

Adapteo expects to receive net proceeds of approximately SEK 386 million as a result of the Placing. The Placing was significantly oversubscribed and attracted a considerable number of large institutional investors. The net proceeds from the Placing will be used for the acquisition of Stord Innkvartering AS announced on 9 December 2020, as well as for general corporate purposes.

In the Placing, Adapteo expects to issue a total of 4,442,025 Placing Shares in a directed share issue. The Placing Shares represent approximately 10 per cent of the issued shares in Adapteo prior to the Placing and approximately nine per cent of the issued shares in Adapteo following the Placing. The total number of issued shares in Adapteo after the Placing will be 49,124,722.

The subscription price of the Placing Shares is SEK 89 per Placing Share, corresponding to a discount of 5.6 per cent to the closing price on 10 December 2020 immediately before the commencement of the Placing and to a discount of 4.1 per cent compared to the volume weighted average price during the last ten days preceding the commencement of the Placing. The subscription price shall be recorded in the reserve for invested unrestricted equity.

The Placing was carried out based on offers received in an accelerated book-building procedure and based on the authorisation given by Adapteo's annual general meeting to the board of directors on 23 April 2020.

Subject to the completion of the Placing, the Placing Shares (ISIN code FI4000383898) will be registered with the Finnish Trade Register on or about 11 December 2020. The Placing Shares are expected to be ready for delivery to the investors against payment through Euroclear Sweden AB on or about 15 December 2020. Trading in the Placing Shares is expected to commence on the official list of Nasdaq Stockholm on or about 15 December 2020.

In connection with the Placing, Adapteo has undertaken, subject to certain customary exemptions, not to issue or sell further shares, or to carry out any transaction having a similar effect, during a lock-up period of 90 days following the completion of the Placing.

Danske Bank A/S, Finland Branch, and Nordea Bank Abp, filial i Sverige, are acting as Joint Global Coordinators and Joint Bookrunners. Krogerus Attorneys Ltd is acting as legal counsel to Adapteo and White & Case LLP is acting as legal counsel to the Joint Global Coordinators and Joint Bookrunners.