Warrants of series TO6 were subscribed to approximately 93 percent and Svenska Aerogel Holding AB (publ) receives approximately SEK 27 million
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, SOUTH AFRICA, SOUTH KOREA, BELARUS, RUSSIA 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. Svenska Aerogel Holding AB (publ) (“Svenska Aerogel” or “the Company”) today announces the outcome of the exercise of warrants of series TO6, which were issued in connection with the Company’s rights issue of units on Nasdaq First North Growth Market in October 2022. In total, 122,790,154 warrants of series TO6 were exercised, corresponding to approximately 93.1 percent of the total number of outstanding warrants of series TO6, for subscription of 122,790,154 shares at a subscription price of SEK 0.22 per share. Svenska Aerogel will receive approximately SEK 27 million before issuing costs through the exercise of the warrants of series TO6.
Tor Einar Norbakk, CEO of Svenska Aerogel:
”The result is a sign of strength and recognition, showing that the company is on the right track. We would like to express our gratitude to our investors who continue to show their valuable support and trust.”
The exercise period for exercise of the warrants of series TO6 took place during the period from and including May 2, 2023, up to and including May 16, 2023. The subscription price per share for exercising the warrants of series TO6 was set to SEK 0.22.
In total, 122,790,154 warrants of series TO6 were exercised for subscription 122,790,154 shares, meaning that approximately 93.1 percent of all outstanding warrants of series TO6 were exercised for subscription of 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 shares within approximately three (3) weeks.
Number of shares, share capital and dilution
Through the exercise of the warrants of series TO6, the number of shares in Svenska Aerogel increases by 122,790,154 shares, from 397,824,965 shares to a total of 520,615,119 shares. The share capital will increase by SEK 6,139,507.70, from SEK 19,891,248.25 to SEK 26,030,755.95.
For existing shareholders who did not exercise any warrants of series TO6, the dilution amounts to approximately 23.6 percent of the number of shares and votes in the Company.
Mangold Fondkommission AB is financial adviser and Eversheds Sutherland is legal adviser to Svenska Aerogel in connection with the exercise period of the warrants of series TO6.
For further information, please contact:
Tor Einar Norbakk, CEO. Telephone: +46 (0)70 616 08 67. E-mail: firstname.lastname@example.org
About Svenska Aerogel Holding AB (publ)
Svenska Aerogel manufactures and commercializes the mesoporous material Quartzene®. Svenska Aerogel's business concept is to meet the market’s need for new materials that are in line with global sustainability objectives. Quartzene® is flexible and can be tailored to different applications to add essential properties to an end product. The company's vision is to be the most valued business partner providing pioneering material solutions for a sustainable world.
Svenska Aerogel Holding AB is listed on Nasdaq First North Growth Market. Certified Adviser is FNCA, email@example.com, +46 8-528 003 99.
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