A total of DKK 8 million was successfully raised through solid support from both the Board of Directors, management, as well as existing and new investors generally.

Martin Løbel, CEO of LED iBond International A/S:

"I'm delighted with the solid support from both the Board of Directors, management as well as both existing and new investors generally. I see all investors as strategically important for LED iBond as part of implementing our strategy. We have now secured a capital raise of DKK 8 million, which will strengthen our current cash position to enable us to further invest in marketing, sales with our international expansion, and R&D for the continued development of advanced Vertical farming solutions."

Of the total amount of DKK 8 million subscribed for, approximately 27% of the shares were subscribed for by exercise of pre-emptive subscription rights and approximately 73% of the shares were subscribed for without pre-emptive rights. The maximum offer comprised of shares of up to DKK 12.7 million.

LED iBond expects, in accordance with the previously communicated timeline for the rights issue, that registration of the share capital increase with the Danish Business Authority will take place on 7 November 2022.

The company further expects that the first day of trading of the new shares on Nasdaq First North Growth Market Denmark is 9 November 2022 and that the merger of the temporary and permanent ISIN codes will occur on 10 November 2022 after 5:00 p.m. CET.