As Terranet AB (”Terranet” or the ”Company”) communicated on April 22, 2021, the board of directors decided to issue warrants of series TO4 B and TO5 B (the “Warrants”) to the current shareholders of Terranet who, on each record date, holds shares in the Company. The Warrants were issued as part of the financing arrangements in relation to the acquisition of approximately 11% of the high-tech AR/VR company holoride.
The record date to receive warrants of series TO4 B has been set to May 5, 2021. Therefore, the last day of trading in the Company’s share including the right to receive warrants of series TO4 B is May 3, 2021, and the first day of trading in the Company’s share excluding the right to receive warrants of series TO4 B is May 4, 2021. Shareholders of Terranet will receive one (1) warrant of series TO4 B for every thirty-seven (37) shares held on the record date. A total of 7,159,817 warrants of series TO4 B will be issued to shareholders of Terranet.
The record date to receive warrants of series TO5 B has been set to May 14, 2021. Therefore, the last day of trading in the Company’s share including the right to receive warrants of series TO5 B is May 11, 2021, and the first day of trading in the Company’s share excluding the right to receive warrants of series TO5 B is May 12, 2021. Shareholders of Terranet will receive one (1) warrant of series TO5 B for every forty-three (43) shares held on the record date. A total of 6,160,773 warrants of series TO5 B will be issued to shareholders of Terranet.
The full terms for the Warrants will be available at the Company’s website: www.terranet.se.
Information and terms for the Warrants
Warrants of series TO4 B
In total 14,319,634 warrants of series TO4 B will be issued, of which 7,159,817 warrants will be issued to the lender Formue Nord Fokus A/S and 7,159,817 warrants will be issued to shareholders of the Company.
Each warrant of series TO4 B entitles the owner to subscribe for one (1) new share in the Company for a price of 70 percent of the volume weighted average price of the Company’s share on Nasdaq First North Premier Growth Market during the period commencing February 11, 2022, up until and including the February 24, 2022, however not higher than SEK 3.60 and not less than the quota value of the Company’s share. The subscription period for the subscription of shares through exercise of warrants of series TO4 B will run from February 28, 2022, up until and including March 11, 2022.
Upon full exercise of the warrants of series TO4 B Terranet will receive approximately SEK 51.6 million, based on a subscription price of SEK 3.60.
Terranet intends to apply for admission to trading of the warrants of series TO4 B on Nasdaq First North Premier Growth Market.
Warrants of series TO5 B
In total 12,321,546 warrants of series TO5 B will be issued, of which 6,160,773 warrants will be issued to the lender Formue Nord Fokus A/S and 6,160,773 warrants will be issued to shareholders of the Company.
Each warrant of series TO5 B entitles to owner to subscribe for one (1) new share in the Company for a price of 70 percent of the volume weighted average price of the Company’s share on Nasdaq First North Premier Growth Market during the period commencing February 24, 2023, up until and including March 9, 2023, however not higher than SEK 4.20 and not less than the quota value of the Company’s share. The subscription period for the subscription of shares through exercise of warrants of series TO5 B will run from March 13, 2023, up until and including March 24, 2023.
Upon full exercise of the warrants of series TO5 B Terranet will receive approximately SEK 51.8 million, based on a subscription price of SEK 4.20.
Terranet intends to apply for admission to trading of the warrants of series TO5 B on Nasdaq First North Premier Growth Market.
Dilution
Upon full exercise of the warrants of series TO4 B the dilution will amount to approximately 5.13%.
Upon full exercise of the warrants of series TO5 B the dilution will amount to approximately 4.23%, (based on the assumption that all warrants of series TO4 B are exercised for the subscription of new shares).
Upon full exercise of the warrants of series TO4 B and warrants of series TO5 B the dilution will amount to approximately 9.14%.
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, please contact:
Pär-Olof Johannesson
Tel: +46 70 332 32 62
E-mail: parolof.johannesson@terranet.se
About Terranet
Terranet develops software for radio-based solutions and three-dimensional image analysis for advanced driver-assistance systems and autonomous vehicles (ADAS and AD). In-line with Scandinavia’s rich history of bringing innovative safety measures to the automobile industry, Terranet is pioneering breakthrough safety technology VoxelFlow™ for the ADAS and AD industries at its headquarters in Lund, Sweden and its development sites in Kyiv, Ukraine and Stuttgart, Germany. Terranet AB is listed on the Nasdaq First North Premier Growth Market (Nasdaq: TERRNT-B.ST).
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Certified Adviser: Mangold Fondkommission AB, 08-503 015 50, ca@mangold.se.