The set-off issue consists of 640,000 shares with a subscription price of 2.50 SEK per share with a quota value of 0.139 SEK per share, equating to a total value of 1.6 million SEK. This will increase the company's total number of shares from 3,769,299 to 4,409,299. The company's share capital will increase by 88,659.88 SEK, totaling 610,824.841 SEK.
Background
Abelco's claim against the company arose after the former creditor, Iron Branch, sold part of its claim to Abelco AB for 1.6 million SEK. Consequently, MyFirstApp's board, with authorization from the annual general meeting on June 22, 2023, decided to proceed with a directed set-off issue. Abelco expressed a desire to offset the claim against shares at a price of 2.50 SEK per share. The price was negotiated between both parties based on the current rate and an additional premium. MyFirstApp believes this to be a fair price for all our shareholders and sees Abelco as a beneficial strategic partner for future growth.
The board of MyFirstApp has determined that this is the most cost-effective and strategic approach for the company to reduce its current debts. Therefore, we choose to offset existing debts rather than conduct a new share issue. The board has considered the alternatives and concluded that waiving the pre-emptive right in a new share issue is the best option for the company under the current circumstances.

CEO's Statement:
"The board's decision to initiate this partnership with Abelco is highly advantageous. It not only reduces our debts but also because Abelco contributes valuable competencies and resources in AI, which are crucial for our future projects. Moreover, Abelco has an established presence in Asia, a region where we are keen to expand our operations. With Abelco as a partner, we can now expand more quickly and efficiently."
This information is insider information that MyFirstApp Sweden AB (publ) is required to disclose in accordance with the EU Market Abuse Regulation. The information was provided by the contact person below, for publication on April 9, 2024, at 18:15.