ExpreS2ion resolves on a directed issue of units to guarantors in connection with the completed rights issue
As communicated in connection with the Rights Issue, the guarantors, in accordance with the issue guarantee agreements entered into, had the option of receiving their guarantee commission in the form of cash corresponding to twelve (12) percent of the amount guaranteed or in the form of newly issued units corresponding to fourteen (14) percent of the amount guaranteed. A number of guarantors have chosen to receive their guarantee commission in the form of newly issued units in the Company. Due to this, ExpreS2ion’s Board of Directors has today resolved on a directed new issue of 527,573 units to these guarantors.
The reasons for the deviation from the shareholders' preferential rights in the Remuneration Issue are to fulfil the Company's obligations under the issue guarantee agreements.
Payment shall be made through set-off of claims against the Company, which consists of the guarantors guarantee commission. The subscription price in the Renumeration Issue, SEK 5.44 per unit, corresponds to the volume-weighted average price of the Company's share on Nasdaq First North Growth Market during the subscription period for the Rights Issue, and has been determined through negotiations between the guarantors and the Company, in consultation with financial advisors and through analysis of a number of market factors. The Board of Director’s assessment is therefore that the subscription price is market-based, taking into account prevailing market conditions.
Through the Remuneration Issue, the total number of shares in ExpreS2ion increases by 527,573 shares to a total of 49,249,767 shares and the share capital increases by SEK 58,619.222329 to a total of SEK 5,472,196.343262 (based on the number of outstanding shares and the share capital in the Company after the Rights Issue). The dilution effect as a result of the Remuneration Issue amounts to approximately 1.1 percent (based on the number of outstanding shares in the Company after the Rights Issue and the Remuneration Issue).
In the event that all warrants of series TO 8 issued in the Renumeration Issue are fully exercised, the Company's share capital will increase by an additional 58,619.222329 SEK to a total of 5,530,815.565590 SEK (based on the number of outstanding shares and the share capital in the Company after the Rights Issue and the Renumeration Issue) and the number of shares and votes in the Company will increase by an additional 527,573 to a total of 49,777,340 (based on the number of outstanding shares and the share capital in the Company after the Rights Issue and the Renumeration Issue). This will entail an additional dilution effect of approximately 1.1 percent (based on the number of outstanding shares in the Company after the Rights Issue, the Renumeration Issue and upon full exercise of the warrants of series TO 8 that is issued in the Renumeration Issue).
Advisors
Vator Securities act as financial advisor and issuing agent to the Company in connection with the Rights Issue. Advokatfirman Schjødt is the Company’s legal advisor in connection with the Rights Issue.
Certified Adviser
Svensk Kapitalmarknadsgranskning AB