LifeClean International AB (publ) (“LifeClean” or the “Company”) has announced its intention to resolve on a rights issue of shares amounting to approximately SEK 60 million before issue costs (the “Rights Issue”). The proceeds from the Rights Issue are primarily intended to be used as expansion capital and to strengthen the Company’s capital structure and working capital. The Company has received subscription commitments totaling approximately SEK 13.2 million, corresponding to approximately 22 percent of the Rights Issue. Existing and external investors have provided guarantee commitments totaling approximately SEK 30.6 million, corresponding to approximately 51 percent of the Rights Issue. An existing shareholder, who is also a lender, has provided a top-up guarantee commitment free of charge, with the possibility of offsetting a convertible loan, amounting to SEK 5.8 million, corresponding to approximately 9.7 percent of the Rights Issue. Consequently, the Rights Issue is secured up to approximately 82.7 percent through subscription commitments and guarantee commitments.
You can find LifeClean’s full press release here.
LifeClean develops, manufactures, and sells disinfection and decontamination solutions as well as sustainable premium cleaning products. The Company’s strategy is to enter long-term agreements with major strategic distributors that have strong networks, efficient logistics capabilities, and high industry expertise. LifeClean aims to establish the LifeClean brand with national and international distributors within its respective business areas: Agriculture, Healthcare, and PFAS. Sales in the Nordic region are conducted through direct sales and a strong reseller network. Outside the Nordic region, sales primarily take place through contracted distributors with extensive networks.
LifeClean is currently in a commercial phase and has recently secured several strategic deals that support the Company’s growth. A five-year distribution agreement with Arxada, a global leader in specialty chemicals, provides LifeClean with access to new markets in the European healthcare sector. In the Agriculture business area, the Company has already established itself in the Nordic region. Additionally, LifeClean has developed an innovative technology for PFAS decontamination, which has generated multiple orders and agreements, further strengthening the Company’s position in the global market.
LifeClean sees growing global demand across all three business areas. With its proprietary and patented technology, established distribution agreements, and scalable production facilities, there is significant growth potential. The Rights Issue is intended to secure expansion and working capital to facilitate the Company’s growth strategy.
The full terms and instructions for the Rights Issue, as well as additional information about the Company, will be detailed in the EU Growth Prospectus, which will be published before the subscription period begins. The prospectus and subscription form will then be available on LifeClean’s website www.lifeclean.se.
LifeClean is a Swedish company operating in the chemical industry. The Company’s patented technology is in disinfection, offering a unique and patented sporicidal, fungicidal, biofilm, bacterial, and virucidal surface disinfection solution applicable across multiple verticals. LifeClean has four business segments. Through its subsidiary, Kempartner Ocean AB, the Company manufactures and sells cleaning products via various retailers, including Apotea, Hemfrid, and Biltema. The three other business segments are within the Agriculture, Healthcare, and PFAS business areas, where LifeClean sees the greatest potential for future growth. In all three verticals, the Company is in an expansive commercial phase and expects new customer agreements, partnerships, and increased sales in the coming years. Sales are primarily B2B and B2G, with production and development conducted at the facility in Uddevalla, Sweden.
First North Growth Market: LCLEAN
Corpura acts as financial advisor in connection with the Rights Issue.
For more information contact:
Carl Kindal
Phone: +46 (0)73-501 58 58
Email: carl.kindal@corpura.se
