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, CEO
We 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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