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Subscription Price Determined for the Exercise of Series TO3 Warrants in Scandinavian Real Heart AB
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Medicinteknik |
Scandinavian Real Heart AB ("Realheart" or the "Company") hereby announces that the subscription price for the exercise of Series TO3 warrants (the "Warrants") has been set at SEK 12.98. The exercise period for the Warrants commences on March 3, 2025, and ends on March 31, 2025. The last day for trading in the Warrants is March 27, 2025.
During the period from June 12, 2024, to July 5, 2024, Realheart conducted a rights issue of units (the "Rights Issue"). Each unit issued in the Rights Issue consisted of two (2) shares and one (1) Series TO3 Warrant. Two (2) Series TO3 Warrants entitle the holder to subscribe for one (1) new share in the Company.
At an extraordinary general meeting on November 5, 2024, a reverse share split was resolved in the ratio of 1:100, meaning that one hundred (100) existing shares were consolidated into one (1) share. In connection with this, the subscription price and the number of shares that each Series TO3 Warrant entitles its holder to subscribe for were adjusted, in accordance with the terms, to neutralize the effect of the reverse share split. After the adjustment, two hundred (200) Series TO3 Warrants are required to subscribe for one (1) new share in the Company.
The reverse share split does not affect the total number of outstanding Warrants or their ISIN code (SE0022240214). Other terms of the Warrants, such as the subscription period, remain unchanged.
Following the recalculation, one (1) Series TO3 Warrant entitles the holder to subscribe for 0.005 shares (previously 0.5 shares). Since the subscription of fractional shares is not possible, two hundred (200) Warrants are now required to subscribe for one (1) new share in the Company.
If all Series TO3 Warrants are exercised in full, Realheart will receive approximately SEK 3.6 million before issuance costs.
The subscription price for the Series TO3 Warrants has been determined at 70 percent of the volume-weighted average price of the Company’s shares on Nasdaq First North Growth Market during the period from February 17 to February 28, 2025, i.e., during the ten trading days immediately preceding the start of the subscription period. 70 percent of the volume-weighted average price during the measurement period amounted to SEK 12.98.
Summary of Instructions and Key Dates
Holders of Warrants who wish to exercise them to subscribe for shares must submit their application no later than March 31, 2025. Warrants that are not exercised by this date will expire worthless. Holders who do not wish to exercise their Warrants have the opportunity to sell them. Trading in the Warrants will continue until March 27, 2025.
Detailed Information and Subscription Instructions
Exercise of Nominee-Registered Warrants
Holders whose Warrants are nominee-registered (held in a securities account, ISK, or capital insurance) must apply for the exercise of the Warrants by contacting their nominee and following the nominee’s instructions regarding subscription and payment. This should be done well in advance of March 31, 2025, as different nominees have different processing times.
Exercise of Directly Registered Warrants
Holders whose Warrants are directly registered (held in a VP account) must apply for the exercise of the Warrants by completing and submitting a subscription form so that it is received by the issuing institution, Nordic Issuing, no later than March 31, 2025.
The subscription form is available on the Company's and Nordic Issuing’s respective websites. Please note that payment for the new shares must be received by Nordic Issuing no later than March 31, 2025, in accordance with the instructions on the subscription form.
Trading of TO3 Warrants
Holders who do not wish to exercise their Warrants have the opportunity to sell them on Nasdaq Stockholm. The Warrants will be traded until March 27, 2025, under the ticker HEART TO3 and with ISIN code SE0022240214. Warrants that are not exercised by March 31, 2025, will expire worthless.
Outcome and Delivery of New Shares
The outcome of the Warrant exercise will be announced via a press release around April 3, 2025. Subscribed and paid shares may be registered in the subscriber’s securities account as interim shares (IA) until the registration of the issue is completed with the Swedish Companies Registration Office, at which point the interim shares will automatically be converted into shares in Realheart.
Number of Warrants and Potential Proceeds from Exercise
If all 54,910,406 Series TO3 Warrants are fully exercised, the share capital will increase by up to SEK 1,375,505.67 to SEK 12,163,688.97 through the issuance of up to 274,552 new shares, resulting in the total number of outstanding shares in the Company increasing from 2,153,330 to 2,427,882.
Upon full exercise of all Series TO3 Warrants, the dilution of shares will amount to approximately 11 percent. If all Warrants are exercised in full, Realheart will receive approximately SEK 3.6 million before issuance costs.
Complete Terms of the Warrants
The complete terms and conditions of the Warrants are available on the Company's website, https://realheart.se/
Advisors
Skills Corporate Finance AB is acting as financial advisor to the Company, and Setterwalls Advokatbyrå AB is acting as legal advisor. Nordic Issuing is acting as the issuing agent in connection with the exercise of the Warrants.