Terranet AB ("Terranet" or the "Company") today announces the outcome of the exercise of warrants of series TO3 B, which were issued in connection with the Company's preferential rights issue during the second quarter of 2020. In total, 49,939,,674 warrants of series TO3 B were exercised, corresponding to approximately 98.9 percent of the total number of outstanding warrants of series TO3 B, for subscription of 49,939,674 B-shares at a subscription price of SEK 0.80 per B-share. Terranet will receive approximately SEK 40.0 million before issuing costs through the exercise of the warrants of series TO3 B.
Background
At the 2020 annual general meeting, it was resolved to approve the board of directors' resolution to carry out a preferential rights issue of units. Each unit consisted of two (2) shares, one (1) warrant of series TO1 B, one (1) warrant of series TO2 B and one (1) warrant of series TO3 B. The subscription period for exercise of the warrants of series TO3 B took place from August 23, 2021, up to and including September 3, 2021. The subscription price per B-share for exercising the warrants of series TO3 B was set to SEK 0.80.
In total, 49,939,674 warrants of series TO3 B were exercised for subscription of 49,939,674 B-shares, meaning that approximately 98.9 percent of all outstanding warrants of series TO3 B were exercised for subscription of B-shares.
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 three (3) weeks.
Number of shares, share capital and dilution
Through the exercise of the warrants of series TO3 B, the number of shares in Terranet increases by 49,939,674 shares, from 264,913,256 (consisting of 1,137,463 A-shares and 263,775,793 B-shares) to a total of 314,852,930 shares. The share capital will increase by SEK 499,396.74, from SEK 2,649,132.56 to SEK 3,148,529.30.
For existing shareholders who did not exercise any warrants of series TO3 B, the dilution amounts to approximately 15.9 percent of the number of shares and approximately 15.8 percent of the number of votes.
Advisers
Mangold Fondkommission is the financial adviser for Terranet regarding the warrants.
For questions regarding the warrants, please contact:
Mangold Fondkommission AB
Tel: +46 8 5030 1595
E-mail: emissioner@mangold.se
For further information about Terranet, please contact:
Pär-Olof Johannesson
Tel: +46 70 332 32 62
E-mail: parolof.johannesson@terranet.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 above on September 7, 2021, at 10.15 CET.
About Terranet
Terranet AB (Nasdaq: TERRNT-B.ST). With a vision to save lives Terranet designs and develops sensor applications for road safety. It markets and delivers a software kit with features available across vehicle platforms and car models. The company is located in Lund and Stuttgart. Terranet AB (publ) is listed on the Nasdaq First North Premier Growth Market.
For more information, please visit www.terranet.se/en/.
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Certified Adviser: Mangold Fondkommission AB, 08-503 015 50, ca@mangold.se.
