Warrants of series TO7 were subscribed to approximately 95 percent and Terranet receives approximately SEK 12.6 million
June 05 2024 - 1:00AM
UK Regulatory
Warrants of series TO7 were subscribed to approximately 95 percent
and Terranet receives approximately SEK 12.6 million
Terranet AB (publ) ("Terranet" or the
"Company") today announces the outcome of the exercise of warrants
of series TO7. In total, 173,029,725 warrants of series TO7 were
exercised, corresponding to approximately 95 percent of the total
number of outstanding warrants of series TO7, for subscription of
173,029,725 B-shares at a subscription price of SEK 0.073 per
share. Terranet will receive approximately SEK 12.6 million before
issuing costs through the exercise of the warrants of series
TO7.
Background
The exercise period for exercise of the warrants of series TO7 took
place from May 20, 2024, up to and including June 3, 2024. The
subscription price per B-share for exercising the warrants of
series TO7 was set to SEK 0.073.
In total, 173,029,725 warrants of series TO7 were exercised for
subscription of 173,029,725 B-shares, meaning that approximately 95
percent of all outstanding warrants of series TO7 were
exercised.
Exercised warrants have been replaced with
interim shares (IA), pending registration with the Swedish
Companies Registration Office. The interim shares are expected to
be converted to B-shares within approximately two (2) weeks.
Share capital and dilution
Through the exercise of the warrants of series TO7, the number of
shares in Terranet increases by 173,029,725 B-shares, from
898,003,007 shares (consisting of 1,083,063 A-shares and
896,919,944 B-shares) to a total of 1,071,032,732 shares. The share
capital will increase by SEK 1,730,297.25 from SEK 8,980,030.07 to
SEK 10,710,327.32.
For existing shareholders who did not exercise
any warrants of series TO7, the dilution amounts to approximately
16.16 percent of the number of shares and approximately 16.14
percent of the number of votes in the Company.
Comment from Magnus Andersson,
CEO
"We are very pleased that so many shareholders have chosen to
exercise their warrants and thus show a continued belief in the
company and its future development. Through the proceeds we receive
from TO7, the company is expected to have financing until the
exercise period of TO8."
Advisers
Mangold Fondkommission AB is the financial advisor and the issuing
agent to Terranet AB (publ) in connection with the exercise of
series TO7 warrants. Eversheds Sutherland Advokatbyrå AB is the
legal advisor to the Company in connection with the exercise of
series TO7 warrants.
For more information, please
contact:
Magnus Andersson, CEO
E-mail: magnus.andersson@terranet.se
or
Dan Wahrenberg, CFO
E-mail: dan.wahrenberg@terranet.se
This information is information that
Terranet AB (publ) is obliged to make public pursuant to the EU
Market Abuse Regulation. The information was submitted for
publication, through the above contact person's agency, at 08:00
CEST on June 4, 2024.
About Terranet AB (publ)
Terranet is on a mission to save lives in urban traffic.
We develop breakthrough tech solutions for
Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles
(AV) that protect vulnerable road users.
With a unique patented vision technology,
Terranet’s anti-collision system BlincVision laser scans and
detects road objects up to ten times faster and with higher
accuracy than any other ADAS technology available today.
Terranet is based in Lund, Sweden, and in the
heart of the European automotive industry in Stuttgart, Germany.
The company is listed on Nasdaq First North Premier Growth Market
since 2017 (Nasdaq: TERRNT B).
For more information, please visit Terranet´s
website www.terranet.se.
Certified Adviser to Terranet is Mangold
Fondkommission AB, ca@mangold.se.
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