Warrants of series TO8 were exercised to approximately 88 percent and Terranet will receive approximately SEK 17.2 million
December 03 2024 - 1:45AM
UK Regulatory
Warrants of series TO8 were exercised to approximately 88 percent
and Terranet will receive approximately SEK 17.2 million
Terranet AB (publ) ("Terranet" or the "Company") today announces
the outcome of the exercise of the warrants of series TO8. In
total, 122 708 719 warrants of series TO8, corresponding to
approximately 88 percent of the outstanding warrants of series TO8,
were exercised for subscription of 122 708 719 Class B shares at a
subscription price of SEK 0.14 per Class B share. Through the
exercise of the warrants of series TO8, Terranet will receive
approximately
SEK 17.2 million before issue costs.
Background
The exercise period for the exercise of the warrants of series TO8
took place during the period 18 – 29 November 2024. The
subscription price per Class B share upon exercise of the warrants
of series TO8 was, according to the terms and conditions of the
warrant program, SEK 0.14. In total, 122 708 719 warrants of series
TO8 were exercised for subscription of 122 708 719 Class B shares,
meaning that approximately 88 percent of the outstanding warrants
of series TO8 were exercised for subscription of Class B
shares.
Exercised warrants have been replaced with interim shares (IA)
pending registration with the Swedish Companies Registration
Office. The conversion of interim shares into shares is expected to
take place within approximately two (2) weeks.
Share capital and dilution
Through the exercise of warrants of series TO8, the number of
shares in Terranet increases with 122 708 719 B shares, from
1,071,032,732 shares (divided into 1,083,063 class A shares and
1,069,949,669 class B shares) to a total of 1 193 741 451 shares.
The share capital will increase by SEK 1 227 087,19, from SEK
10,710,327.32 to SEK 11 937 414,51.
For existing shareholders who have not exercised any warrants of
series TO8, the dilution amounts to approximately 10,28 percent of
the number of shares and approximately
10,27 percent of the number of votes in the Company.
Comments 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."
Advisers
Mangold Fondkommission AB is the issuing agent to Terranet AB in
connection with the exercise of series TO8 warrants. Eversheds
Sutherland Advokatbyrå AB is the legal advisor to the Company in
connection with the exercise of series TO8 warrants.
For questions regarding the warrants, please contact: Mangold
Fondkommission AB
Tel: +46 8 5050 1595
E-mail: emissioner@mangold.se
This information is such that Terranet AB is required to make
public in accordance with the EU’s Market Abuse Regulation (MAR).
The information was made public by the Company’s contact person
below on 3 December 2024, at 08.45 CET.
For more information, please contact:
Magnus Andersson, CEO Tel: +46 7 0777 8538
E-mail: magnus.andersson@terranet.se
or
Dan Wahrenberg, CFO Tel: +46 7 0337 0346
E-mail: dan.wahrenberg@terranet.se
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.
- 241203 Terranet Outcome T08 ENG
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