The subscription price for the warrants of series TO7 in Brighter AB has been determined to SEK 0.078 and the subscription period starts June 1, 2022
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Brighter AB (publ) (“Brighter” or the “Company”) completed a rights issue of units during the first quarter of 2022. One (1) unit consisted of two (2) newly issued shares, two (2) warrants of series TO7 and one (1) warrant of series TO8. Each warrant entitles the holder the right to subscribe for one (1) new share in the Company. The exercise price for the warrants of series TO7 is determined to 70 percent of the volume-weighted average price in the Company’s share on Nasdaq First North Growth Market during the measurement period, from May 16, 2022, to May 30, 2022, however not lower than the quota value of the Company’s share and not higher than SEK 0.38. During the measurement period, the volume-weighted average price in the Company’s share was approximately SEK 0.111, therefore, the exercise price for the warrants of series TO7 is set to SEK 0.078. The subscription period for warrants of series TO7 runs from June 1, 2022, up to and including June 15, 2022. The proceeds will mainly be used for commercialization in Qatar and the United Arab Emirates.
If all the warrants of series TO7 are exercised, the Company will receive approximately SEK 26.0 million before issuing costs. For the warrants to not expire without value, it is required that the holder actively subscribes for new shares no later than June 15, 2022 or sell the warrants no later than June 13, 2022. Please observe that certain nominees might close their application earlier than June 15, 2022.
Summarized terms for the warrants of series TO7.
Subscription period: June 1, 2022 – June 15, 2022.
Issue size: 333,333,334 warrants of series TO7, which entitles to subscription of 333,333,334 shares. If all the warrants are exercised, the Company will receive approximately SEK 26.0 million before issuing costs.
Exercise price: SEK 0.078 per share.
Last day for trading warrants of series TO7: June 13, 2022.
Share capital och dilution: If all warrants are exercised the share capital will increase with SEK 16,666,666.70, from SEK 36,182,234.10 to SEK 52,848,900.80. If all warrants are exercised the number of shares will increase with 333,333,334 shares, from 723,644,682 shares to 1,056,978,016 shares. The dilution at exercise of all warrants amounts to 31.5 percent of the number of shares and votes.
Note that the warrants that are not exercised at the latest June 15, 2022, or sold at the latest June 13, 2022, will expire without value. For the warrants not to lose their value, the holder must actively subscribe for new shares or sell the warrants.
How warrants are exercised:
Nominee-registered warrants (Custody account)
Subscription and payment by exercise of warrants shall be made in accordance with instructions from each nominee. Please contact your nominee for additional information.
Direct-registered warrants (Securities account)
No accounts for issuing nor any instructions regarding payments will be sent out. Subscriptions will be made through simultaneous payment in accordance with the instructions on the application form. The warrants will then be replaced by interim shares awaiting registration at the Swedish Companies Registration Office.
The application form including instructions for payment will be available at Brighter’s website, www.brighter.se and on Mangold Fondkommission AB’s website, www.mangold.se on June 1st.
Advisors
Mangold Fondkommission AB is the financial advisor to the Company regarding the warrants.
For more information, please contact:
Investor Relations
IR@brighter.se
Certified Adviser
Brighter’s Certified Adviser is Mangold Fondkommission AB,
+46 8 52 77 5020, ca@mangold.se, www.mangold.se
About Brighter
Brighter is a health-tech Company from Sweden with a vision of a world where managing chronic diseases is no longer a struggle. We believe a data-centric approach is key to providing smarter care for chronic conditions. Our daily-care solutions are designed with a vision to facilitate the flow of real-life treatment data between chronic-disease patients, their loved ones and their care providers – aiming to improve quality of life, easing the burden on healthcare systems, and opening new opportunities for data-driven research. Brighter's quality management system is ISO13485 certified. In 2019 the Company won the Swecare Rising Stars Award. The Company's shares are listed on Nasdaq First North Growth Market/BRIG.
For more information, please visit our website at www.brighter.se
Important information
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Brighter in any jurisdiction, neither from Brighter nor anyone else.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.