Warrants of series TO6 were subscribed to approximately 63 percent and Terranet receives approximately SEK 6.3 million
13 Dicembre 2023 - 8:00AM
Warrants of series TO6 were subscribed to approximately 63 percent
and Terranet receives approximately SEK 6.3 million
Terranet AB ("Terranet" or the "Company") today
announces the outcome of the exercise of warrants of series TO6. In
total, 115,760,009 warrants of series TO6 were exercised,
corresponding to approximately 63 percent of the total number of
outstanding warrants of series TO6, for subscription of 115,760,009
B-shares at a subscription price of SEK 0.054 per share. Terranet
will receive approximately SEK 6.3 million before issuing costs
through the exercise of the warrants of series TO6.
Background
The exercise period for exercise of the warrants
of series TO6 took place from November 27th, 2023, up to and
including December 11th, 2023. The subscription price per B-share
for exercising the warrants of series TO6 was set to SEK 0.054.
In total, 115,760,009 warrants of series TO6
were exercised for subscription of 115,760,009 B-shares, meaning
that approximately 63 percent of all outstanding warrants of series
TO6 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
TO6, the number of shares in Terranet increases by 115,760,009
B-shares, from 639,385,860 shares (consisting of 1,084,463 A-shares
and 638,301,397 B-shares) to a total of 755,145,869 shares. The
share capital will increase by SEK 1,157,600 from SEK 6,393,859 to
SEK 7,551,459.
For existing shareholders who did not exercise
any warrants of series TO6, the dilution amounts to approximately
15.3 percent of the number of shares and approximately 15.3 percent
of the number of votes in the Company.
Comments from Magnus Andersson, CEOWe are
pleased that, despite the recent stock market climate, we have
shareholders who support and believe in the company. The proceeds
will be used for the continued development of BlincVision and we
look forward to being able to present the results of our demos
according to plan during the spring.
Advisers
Mangold Fondkommission AB is the financial
advisor and the issuing agent to Terranet AB in connection with the
exercise of series TO6 warrants. Eversheds Sutherland Advokatbyrå
AB is the legal advisor to the Company in connection with the
exercise of series TO6 warrants.
For questions regarding the warrants,
please contact:
Mangold Fondkommission AB
Tel: +46 8 5050 1595
E-mail: emissioner@mangold.se
For more information, please
contact:
Magnus Andersson, CEO
Tel: +46 7 0777 8538
or
Dan Wahrenberg, CFO
Tel: +46 7 0337 0346
E-mail: dan.wahrenberg@terranet.se
This information is information that Terranet AB
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 December 13th,
2023.
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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