The subscription price for the warrants of series TO4 B in Terranet AB has been determined to SEK 0.56 and the subscription period starts February 28, 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.
During the second quarter of 2021, Terranet AB (“Terranet” or the “Company”) issued warrants of series TO4 B and TO5 B. Each warrant entitles the holder the right to subscribe for one (1) new B share in the Company. The exercise price for the warrants of series TO4 B is to be determined to 70 percent of the volume-weighted average price in the Company’s share on Nasdaq First North Premier Growth Market during the measurement period, from February 11, 2022, to February 24, 2022, however not higher than SEK 3.60 and not less than the quota value of the Company’s shares. During the measurement period, the volume-weighted average price in the Company’s share was approximately SEK 0.81, therefore, the exercise price for the warrants of series TO4 B is set to SEK 0.56. The subscription period for warrants of series TO4 B runs from February 28, 2022, up to and including March 11, 2022.
If all the warrants of series TO4 B are exercised, the Company will receive approximately SEK 8.0 million before issuing costs. For the warrants to not expire without value, it is required that the holder actively subscribes for new shares no later than March 11, 2022 or sell the warrants no later than March 9, 2022. Please observe that certain nominees might close their application earlier than March 11, 2022.
Summarized terms for the warrants of series TO4 B:
Subscription period: February 28, 2022 – March 11, 2022
Issue size: 14,319,634 warrants of series TO4 B, which entitles to subscription of 14,319,634 B shares. If all the warrants are exercised, The Company will receive approximately SEK 8.0 million before issuing costs
Exercise price: SEK 0.56 per B shares
Last day for trading warrants of series TO4 B: March 9, 2022
Share capital and dilution: If all warrants are exercised the share capital will increase with SEK 143,196.34, from SEK 3,148,529.30 to SEK 3,291,725.64. If all warrants are exercised the number of shares will increase with 14,319,634 B shares, from 314,852,930 shares (divided on 1,133,263 A shares and 313,719,667 B shares), to 329,172,564 shares. The dilution at exercise of all warrants amounts to approximately 4.35 percent of the number of shares and approximately 4.34 percent of the number of votes.
Note that the warrants that are not exercised at the latest March 11, 2022, or sold at the latest March 9, 2022, will expire without value. For the warrants not to lose their value, the holder must actively subscribe for new shares or sell the warrants.
How warrants are exercised:
Nominee-registered warrants (Custody account)
Subscription and payment by exercise of warrants shall be made in accordance with instructions from each nominee. Please contact your nominee for additional information.
Direct-registered warrants (Securities account)
No accounts for issuing nor any instructions regarding payments will be sent out. Subscriptions will be made through simultaneous payment in accordance with the instructions on the application form.
The warrants will then be replaced by interim shares awaiting registration at the Swedish Companies Registration Office.
Mangold Fondkommission AB is the financial adviser for Terranet regarding the warrants.
For questions regarding the warrants, please contact:
Mangold Fondkommission AB
Tel: +46 8 5030 1595
For more information please contact:
Thomas Falkenberg, CFO
Tel: +46 703 360 346
Terranet AB (Nasdaq: TERRNT-B). With a vision to save lives Terranet designs and develops a new class for vision-based sensor systems, used for road safety. It markets and delivers a software stack with features available across vehicle platforms and car models. The technology was handpicked and showcased twice at Startup Autobahn in 2021. The company is located in Lund and Stuttgart. Terranet AB is listed on the Nasdaq First North Premier Growth Market. Discover more about Terranet: www.terranet.se/en
Certified Adviser to Terranet is Mangold Fondkommission AB, 08-503 015 50, email@example.com.
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Terranet in any jurisdiction, neither from Terranet nor anyone else.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.