Press releases

Eevia Health's Board of Directors has resolved, subject to approval at an Extraordinary General Meeting, on a directed share issue of SEK 20 million

The Board of Directors of Eevia Health Plc (publ) ("Eevia" or the "Company") has resolved, subject to the approval by shareholders at an Extraordinary General Meeting (the "EGM"), on a directed new issue of 2,061,856 shares at a subscription price of SEK 9.70 per share (the "Directed Share Issue"), which is expected to raise proceeds to the Company of SEK 20 million before issue costs. The proceeds will primarily be used for investments in increased capacity to better be able to meet current and future demand.

Eevia has resolved, subject to the approval by shareholders at an EGM, on a Directed Share Issue to a limited number of new institutional and professional investors as well as several existing shareholders. The Directed Share Issue was based on a bookbuilding process conducted by Partner FK. A total of 23 investors has agreed to subscribe for shares in the Directed Share Issue including among others Quiq Holding, Polynom Investment, Modelio Equity, Klier Invest and Consensus Lighthouse Asset.

The Company intends to publish a notice convening an EGM shortly.

The subscription price in the Directed Share Issue corresponds to a discount of 15 percent from the volume weighted average price during 22 trading days between October 11, 2021 and November 9, 2021. The Board of Directors of Eevia Health considers the discount to be in line with market practice and fair given the volume weighted average price during the last month.

The Directed Share Issue increases the total number of shares from 13,951,500 to 16,013,356. For existing shareholders, the Directed Share Issue will result in a dilution of approximately 12.9 percent. The reason for deviation from the shareholders' pre-emptive rights for the Directed Share Issue is to increase and broaden the shareholder base with qualified and long-term investors and also in a cost-effective and timely manner raise capital to improve the Company's financial position and to enable the further development and growth of the Company's business. The Board is of the opinion that the Directed Share Issue will be of benefit to the Company and, therefore, to all its shareholders.

Stein Ulve, CEO of Eevia Health:

"We are happy to welcome new institutional and professional investors to be part of Eevia Health's journey going forward. With the funds we are raising from new investors and the continued support from our current investors, we will be able to increase capacity in our factory. Following the record 100 MSEK order received during the summer of 2021 we have identified additional investments that will allow us to better meet current and future demand. We see a strong market for our products, and we are seeing an increase in inquiries from both existing and new customers. The capital raised will also give us financial strength and flexibility in exploring new opportunities and deliver on existing contracts to meet our financial targets for 2024 - MEUR 25 in turnover with over 40% gross margin and EBITDA margin above 15%."

Partner Fondkommission is financial advisor and issuing agent in Sweden. OP Bank is issuing agent in Finland. Smartius Oy is legal adviser.

Stein Ulve, CEO, Eevia Health Plc                       Kim Nurmi-Aro, CFO, Eevia Health Plc


Telephone: +358 400 22 5967                              +358 504 44 0717


Eevia Health Plc, founded in March 2017, addresses significant health problems with bioactive compounds extracted from plant materials. The materials are mostly wild harvested and key raw materials are harvested from the pristine Finnish and Swedish forests near or above the Arctic Circle. The extracts are sold B2B to dietary supplements and food brands globally, who utilize the products as ingredients in their consumer product formulas.

Eevia Health is fast-growing Finnish manufacturer of 100% organically certified plant extracts. Most of its raw materials, such as bilberry, lingonberry, chaga-mushroom, and pine bark, are wild-harvested in a sustainable fashion. The safe and effective ingredients of high quality, such as high concentrate bilberry anthocyanin extracts (36% anthocyanins) and pine bark extracts (70% oligomeric proanthocyanidins), are organically certified. 

Eevia Health operates a modern green-chemistry production facility in Finland, located close to the raw material harvest areas. The short value-chain enables an environmentally friendly carbon footprint, competitive pricing, and extreme transparency. Eevia is listed at Spotlight Stock Market with the short name EEVIA.

To learn more, please visit or follow Eevia Health on LinkedIn @EeviaHealth.