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Crunchfish announces the result of the exercise of warrants of series TO9
Crunchfish AB ("Crunchfish" or the "Company") today announced the result of the exercise of warrants of series TO9, which were issued in connection with the Company's unit issue in October 2021. The result shows that a total of 1,602,869 warrants were exercised for subscription of 1,602,869 new shares in the Company, corresponding to approximately 93.3 percent of the total number of issued warrants of series TO9. Through the exercise, Crunchfish receives approximately SEK 21.5 million before transaction costs.
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In October 2021, Crunchfish conducted a unit issue of shares and warrants, where every unit consisted of three (3) shares and two (2) warrants of series TO9. In total, 1,718,072 warrants of series TO9 were issued. Every one (1) warrant entitled the holder to subscribe for one (1) new share in Crunchfish. In accordance with the terms and conditions for the warrants, the subscription price per share was set to SEK 13.40.
The subscription period is now complete and the result shows that a total of 1,602,869 warrants were exercised for subscription of 1,602,869 new shares in the Company, corresponding to approximately 93.3 percent of the total number of issued warrants of series TO9. This will bring a total of approximately SEK 21.5 million to Crunchfish before transaction cost, approximately SEK 0.5 million.
"We are very happy with the outcome of the exercise of T09 warrants and appreciate the trust in our business. With this capital injection we have secured financing of our business for 2023", says Joachim Samuelsson, CEO of Crunchfish
Through the exercise of 1,602,869 warrants of series TO9, the number of shares in Crunchfish increases with 1,602,869 shares to 33,039,167 shares, and the share capital increases with SEK 73,731.974 to SEK 1,519,801.682. This entails a dilution of approximately 4.9 percent based on the number of outstanding shares in Crunchfish.
Delivery of new shares
Shares that have been subscribed and paid for will be registered on the subscriber's securities depository as interim shares (IA) until registration of the issue has been completed with the Swedish Companies Registration Office, whereupon the interim shares automatically will be converted into ordinary shares in Crunchfish. The interim shares are expected to be converted to shares within two weeks, i.e. around 3 January 2023.
Financial advisor, issuing agent and legal advisor
Västra Hamnen Corporate Finance AB is financial advisor and Nordic Issuing act as issuing agent to Crunchfish in connection with the exercise of warrants of series TO9. Setterwalls Advokatbyrå AB is legal advisor.
IMPORTANT INFORMATION
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, warrants or other securities in Crunchfish. An offer to concerned persons to subscribe for units consisting of shares and warrants series TO9 in Crunchfish has only been made through the prospectus that Crunchfish published on October 6, 2021.
For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
joachim.samuelsson@crunchfish.com
This information was provided by the contact person above for publication on 20 December 2022 at 11:45 CET.
Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se.Telephone +46 40 200 250.
About Crunchfish - crunchfish.com (https://www.crunchfish.com/)
Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with subsidiary in India.