BBS-Bioactive Bone Substitutes Plc, Company Announcement, Insider information, 18 December 2023 at 5:15 p.m.

BBS-Bioactive Bone Substitutes Plc’s rights issue raised gross proceeds of EUR 1.87 million

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The rights issue resolved by BBS-Bioactive Bone Substitutes Plc’s (“BBS” or the “Company”) Board of Directors on 20 November 2023 (the “Offering”) has been subscribed to approximately 71.1 percent. The Company raised proceeds of approximately EUR 1.87 million from the Offering before deduction of issuance costs and fees.

The Board of Directors of the Company resolved on 18 December 2023 to approve the subscriptions received in the Offering. A total of 4,028,040 shares (approximately 86.1 per cent of the subscribed shares) have been subscribed based on the subscription rights and a total of 650,288 shares (approximately 13.9 per cent of the subscribed shares) without subscription rights.

The shares subscribed for in the Offering are expected to be registered with the Finnish Trade Register approximately on 21 December 2023. Combination of the temporary shares with the Company’s existing shares will occur in the book-entry system maintained by Euroclear Finland Oy approximately on 22 December 2023. The new shares subscribed for in the Offering will be subject to trading together with the Company’s existing shares approximately on 22 December 2023 on First North Growth Market Finland.

As a result of the Offering the number of shares in BBS will increase by 4,678,328. After the Offering the total number of shares will amount to 19,297,175. The company does not hold treasury shares.

BBS will in total receive approximately EUR 1.75 million net proceeds through the Offering (after deduction of transaction costs associated with the Offering).

Currently, based on the Company’s estimate, the cash resources collected in the Company are sufficient for about six months. Since the Company must secure its funding for the next year, the Board of Directors will start immediate measures to obtain additional funding.

Juliusz Rakowski, CEO of BBS: "I would like to thank all the subscribers for the trust they have shown in BBS. We will continue to focus on obtaining the CE marking during the second quarter of 2024 and preparing for the subsequent commercial phase."

Advisors

Aalto Capital Partners Oy is acting as financial advisor to the Company in the Offering. Smartius Oy is acting as the legal advisor to the Company on aspects of the Offering related to the Finnish law.

BBS-BIOACTIVE BONE SUBSTITUTES PLC

For more information, please contact

Juliusz Rakowski, CEO
+358 50 448 5132
juliusz.rakowski@bbs-artebone.fi

Certified Advisor:
Nordic Certified Adviser AB,
+46 70 551 67 29,
info@certifiedadviser.se

BBS in brief

BBS -Bioactive Bone Substitutes Plc is a orthobiology company that started its operations in 2003. We have developed a new product for the treatment of complex bone fractures and bone healing issues. Our goal is to provide next-generation medical products for the treatment of bone injuries in orthopedic surgery. In the pharmaceutical industry, the development and research work require perseverance and courage to innovate. We have a track record of over 20 years in this field. Our company is characterized by expertise, innovation, and dedicated employees who are passionate about their work. Our first developed product, ARTEBONE® Paste, is in the final stages of the CE marking process to enable its commercialization in the EU market. We are based in Oulu with a medical manufacturing facility in Reisjärvi, holding a manufacturing license. The company's headquarters are in Oulu, and we employ over 20 people.

BBS has been listed on Nasdaq First North Growth Market Finland since February 2018.

More information: www.bbs-artebone.fi

IMPORTANT NOTICE

This release or the information contained therein shall not be distributed, directly or indirectly, in Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or the United States. The information contained in this release do not constitute an offer of, or invitation to purchase any securities in any area, where offering, procurement of or selling such securities would be unlawful prior to registration or exemption from registration or any other approval required by the securities regulation in such area. This release is not an offer for sale of securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended, and the rules and regulations issued by virtue of it. BBS has not registered, and does not intend to register, any offering of securities in the United States. No actions have been taken to register the shares or the offering anywhere else than in Finland.

The information contained herein shall not constitute an offer of, or invitation to purchase any securities in any jurisdiction. This release is not a prospectus and does not constitute any offer, invitation or investment advice to subscribe for or purchase securities. Investors should not subscribe for or purchase any securities or make any investment decisions referred to herein except on the basis of information contained in the investor memorandum and basic information document issued by BBS.