Approximately 69.7 percent of the Series TO2 warrants were exercised, and the Tellus Group received approximately SEK 6.0 million
Published: May 29, 2024
Tellusgruppen AB (publ) (“Tellusgruppen” or “the Company”) today announces the results of the exercise of Series TO2 warrants. 670,118 Series TO2 warrants were exercised, corresponding to approximately 46.9 percent of the outstanding Series TO2 warrants, for the subscription of 670,118 shares at a subscription price of SEK 6.0 per share. This means that guarantee commitments for 280,478 warrants, corresponding to 19.6 percent of the outstanding Series TO2 warrants, have been exercised. In addition, the investors who entered into top-down guarantee commitments have offset their respective claims against the Company as a result of guarantee compensation against the subscription of 44,000 Series TO2 warrants. In total, 994,596 Series TO2 warrants, corresponding to approximately 69.7 percent of the outstanding Series TO2 warrants, have thus been exercised to subscribe for 994,596 shares. Through the exercise of the Series TO2 warrants, the Tellus Group receives approximately SEK 6.0 million before issuance costs, of which approximately SEK 3.3 million has been paid through the set-off of outstanding loans to the Company and a receivable from issued guarantee compensation.
Background
The exercise period for Series TO2 warrants ran from May 13, 2024, through May 27, 2024. The exercise price per share for Series TO2 warrants was set at SEK 6.0.
A total of 994,596 Series TO2 warrants were exercised to subscribe for 994,596 shares, meaning that approximately 69.7 percent of the outstanding Series TO2 warrants were exercised to subscribe for shares, of which 280,478 Series TO2 warrants were exercised as a result of guarantee commitments entered into and 44,000 Series TO2 warrants were exercised and paid for through set-off against guarantee compensation.
Exercised warrants have been replaced with interim shares (IA) pending registration with the Swedish Companies Registration Office. The conversion of interim shares into shares is expected to take place within approximately two (2) weeks.
Share Capital and Dilution
Through the exercise of Series TO2 warrants, the number of shares in Tellusgruppen will increase by 994,596 shares, from 15,009,710 shares to a total of 16,004,306 shares. The share capital increases by approximately SEK 49,570.68, from approximately SEK 748,084.14 to approximately SEK 797,654.82.
For existing shareholders who have not exercised any Series TO2 warrants, the dilution amounts to approximately 6.2 percent of the number of shares and approximately 6.2 percent of the number of votes in the Company.
Advisors
Mangold Fondkommission AB is the financial advisor and Hellström Advokatbyrå KB is acting as legal advisor in connection with the Offering. Mangold Fondkommission AB is the underwriter in connection with the Offering.
For further information, please contact:
Bijan Fahimi, CEO of Tellusgruppen AB
bijan.fahimi@tellusgruppen.noboxdesign.se
+46 707 167 453
Certified Adviser
Mangold Fondkommission AB is acting as financial advisor and Hellström Advokatbyrå KB is acting as legal advisor in connection with the Offering. Mangold Fondkommission AB is the underwriter in connection with the Offering.
