ExpreS2ion will be allocated approximately SEK 9,6 million through the redemption of warrants and at the same time converts part of loan
In March 2019 ExpreS2ion issued 1,600,000 consideration-free warrants of series TO 3 to a number of investors in connection to a directed share issue. Each warrant entitled the holder to subscribe for one (1) new share at a price of SEK 6.00 per share. ExpreS2ion hereby announces that all warrants of series TO 3 will be exercised for subscription of 1,600,000 shares, which will bring the company approximately SEK 9.6 million before issue costs of approximately SEK 0.6 million.
ExpreS2ion’s Chairman Martin Roland Jensen comments:
“The funds we now receive are of course important as we drive the business forward at a rapid pace. We are working really hard to exploit the potential of ExpreS2ion and are very optimistic about the time we have before us. We are very pleased that all warrant holders have executed their warrants and we see this as an expression of confidence in ExpreS2ion. It means that ExpreS2ion now is funded until we expect to be cash flow neutral in 2021 - and at positive cash flow beyond this point”.
ExpreS2ion’s CEO Bent Frandsen comments:
“I would like to thank the investors for their support in ExpreS2ion. We are, of course, very pleased with the additional capital that will strengthen us further in our efforts to achieve our long-term goals.”
Number of shares and share capital
When the new shares, including the converted part of the loan from Modelio Equity AB, have been registered with the Swedish Companies Registration Office, the number of shares in ExpreS2ion will amount to 15 452 015 and the share capital will amount to 1 716 890,350001 SEK.
Certified Adviser
Svensk Kapitalmarknadsgranskning AB
Telefon: +46 11 32 30 732
E-post: ca@skmg.se