The prospectus may NOT be downloaded or read by persons residing in the United States, Canada, Japan, Australia, Hong Kong, New Zealand, Switzerland, Singapore, South Africa, or any other jurisdiction where participation would require additional prospectuses, registration, or measures other than those under Swedish law or otherwise contrary to the rules of such jurisdiction. Distribution of the Prospectus and participation in the Offer are subject to restrictions in law and other rules in some jurisdictions. The Company has not taken and will not take any steps to allow an offer to the public in any jurisdictions other than Sweden. The Offer is not addressed to persons domiciled in the United States, Canada, Japan, Australia, Hong Kong, New Zealand, Switzerland, Singapore, South Africa, or any other jurisdiction where participation would require additional prospectuses, registration, or other measures than those arising under Swedish law or otherwise contrary to the rules of such jurisdiction. Consequently, the prospectus, the notification form and other documents relating to the Offer may not be distributed in or to said countries or any other jurisdiction where distribution or the Offer requires such action or otherwise violates applicable rules. Subscription of units and acquisition of securities in violation of the above limitations may be invalid. Persons receiving copies of the Prospectus must inform themselves of and comply with such restrictions. Measures in breach of the restrictions may constitute a breach of applicable securities laws.

To continue, please confirm that you are not resident in the United States, Canada, Japan, Australia, Hong Kong, New Zealand, Switzerland, Singapore, South Africa, or any other jurisdiction where participation would require additional prospectuses, registration, or measures other than those under Swedish law or otherwise contrary to the rules of such jurisdiction.

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The prospectus and offerings may NOT be downloaded or read by persons residing in the United States, Canada, Japan, Australia, Hong Kong, New Zealand, Switzerland, Singapore, South Africa, or any other jurisdiction where participation would require additional prospectuses, registration, or measures other than those under Swedish law or otherwise contrary to the rules of such jurisdiction. Distribution of the Prospectus and offerings and participation in the Offer are subject to restrictions in law and other rules in some jurisdictions. The Company has not taken and will not take any steps to allow an offer to the public in any jurisdictions other than Sweden. The Offer is not addressed to persons domiciled in the United States, Canada, Japan, Australia, Hong Kong, New Zealand, Switzerland, Singapore, South Africa, or any other jurisdiction where participation would require additional prospectuses, registration, or other measures than those arising under Swedish law or otherwise contrary to the rules of such jurisdiction. Consequently, the prospectus, the notification form and other documents relating to the Offer may not be distributed in or to said countries or any other jurisdiction where distribution or the Offer requires such action or otherwise violates applicable rules. Subscription of units and acquisition of securities in violation of the above limitations may be invalid. Persons receiving copies of the Prospectus must inform themselves of and comply with such restrictions. Measures in breach of the restrictions may constitute a breach of applicable securities laws. You can find the documents with restricted access below. 

Information about Rights Issue 2023

Background and Rationale

Terranet is in an expansive development phase of BlincVision, where a number of sub-goals need to be met before the product can be standardized and commercialized. The high demands on technology in the automotive industry mean that the development phase is capital-intensive, primarily when it comes to conducting the internal development of the product’s hardware, and producing prototypes together with external partners, as well as recruiting and retaining the right skills within the company.

In order to be able to carry out the necessary development work required to commercialize BlincVision and refinance the company’s outstanding loan financing, Terranet’s Board of Directors has perceived a need for capital injections and is therefore carrying out the rights issue.

The proceeds from the rights issue are allocated to the following uses, in order of priority:

  • Own development work as well as marketing and sales activities by BlincVision, approximately 47 percent.
  • Supplier costs for development and manufacture of prototypes for BlincVision, approximately 30 percent.
  • Amortization of loans to Formue Nord, 23 percent.

In the event that all warrants of series TO6 and TO7 are exercised, the proceeds will be used for the following uses, in order of priority:

  • Own development work as well as marketing and sales activities by BlincVision, approximately 50 percent.
  • Supplier costs for development and manufacture of prototypes for BlincVision, approximately 35 percent.
  • Amortization of loans to Formue Nord, 15 percent.

The Rights Issue in Brief

Subscription period: Indicative 29 May – 13 June 2023 (note that some share managers close subscription at an earlier date).

Trading in subscription rights: Indicative 29 May – 8 June 2023.

Subscription with preferential rights: For each share, regardless of share class owned as of the record date, May 25, 2023, the holder receives one (1) unit right. Four (4) unit rights give the right to subscribe for one (1) unit. One (1) unit consists of five (5) Class B shares, three (3) warrants of series TO6 and three (3) warrants of series TO7.

Subscription price: The subscription price per unit amounts to SEK 0.90, corresponding to SEK 0.18 per share.

Issue proceeds: Upon full subscription in the rights issue, the company will receive SEK 75.4 million before issue costs and upon full exercise of all warrants of series TO6 and TO7 offered within the framework of the rights issue, the company may receive an additional maximum of SEK 135.7 million.

Subscription and guarantee commitments: The rights issue is secured through subscription commitments of approximately 17.3 percent and guarantee commitments of approximately 52.7 percent, corresponding to a guarantee ratio of approximately 70 percent.

Links for Participation in Rights Issue through:

Mangold

Avanza

Nordnet

Video from investor day

CEO interview

Product video – BlincVision