The subscription price for the exercise of warrants of series TO1 in Veg of Lund has been determined to SEK 11,06 per share
During the third quarter of 2021 Veg of Lund AB (publ) (“Veg of Lund” or the “Company”) carried out an issue with deviation from the shareholders’ pre-emption rights (the “Directed issue”) of so called units consisting of shares and warrants of series TO1 (“Warrants”) and an issue of Warrants to the, at that time, existing shareholders in Veg of Lund for the purpose of compensating the existing shareholders for the dilution effect which followed from the Directed issue (the “Compensation issue”). The subscription price for the shares which are subscribed for through the exercise of the Warrant has, in accordance with the terms for the Warrants, been determined to SEK 11,06 per share.
Background
As communicated in the Company’s press release on 25 August 2021, Veg of Lund, carried out the Directed issue of so called units whereby 295,000 Warrants and 885,000 shares in the Company were issued to a number of qualified investors. The Compensation issue was carried out to give the, at that time, existing shareholders the opportunity to be compensated for the dilution effect which followed from the Directed issue. In the Compensation issue, 489,619 Warrants were issued free of charge. In total, 784,619 Warrants were issued in the Directed issue and the Compensation issue.
Summarized terms for the Warrants
One Warrant entails a right to subscribe for one (1) new share in the Company during the period from and including 25 February 2022 up to and including 10 March 2022. In accordance with the terms for the Warrants, the subscription price per share subscribed for through exercising the Warrants was to be determined to 70 percent of the volume-weighted average price for the Company’s share during the period from and including 10 February 2022 up to and including 23 February 2022, however not to an amount less than the quotient value for the Company’s share and not to an amount exceeding SEK 51.00.
The subscription price per share, which is subscribed for through exercising the Warrants has, in accordance with the terms for the Warrants been determined to SEK 11,06 per new share. The subscription price corresponds to 70 percent of the volume-weighted average price for the Company’s share during the period from and including 10 February 2022 up to and including 23 February 2022.
Full terms and conditions for the Warrants are available at the Company's website, https://ir.vegoflund.se/aktien/.
If all Warrants are exercised the share capital will increase with SEK 50,215.616 from SEK 782,357.504 SEK to SEK 832,573.120 SEK and the number of shares will increase with 784,619 shares from 12,224,336 shares to 13,008,955 shares. If all Warrants are exercised the dilution will amount to approximately 6.03 percent of the number of shares and votes.
Exercise period: From 25 February 2022 up to and including 10 March 2022.
Subscription price: SEK 11,06 per share.
Volume: 784,619 Warrants. If all Warrants are exercised, 784,619 shares are issued, and the Company can receive, at most, approximately SEK 8,68 million before issuing costs.
Last day for trading with Warrants: 8 March 2022.
Note that the Warrants that are not exercised on 10 March 2022 at the latest or are sold on 8 March 2022 at the latest, will expire without value. To ensure that the Warrants does not expire without 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 for shares subscribed for through exercising of Warrants shall be made in accordance with instructions from each nominee. Please contact your nominee for additional information.
Direct-registered Warrants (Securities account)
Application form including payment instructions will be made available at the Company’s website, ir.vegoflund.se/aktien/ and on Mangold Fondkommission AB’s website mangold.se.
No accounts for issuing nor any instructions regarding payments will be sent out. Subscription shall 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.
Advisors
Mangold Fondkommission AB is the financial advisor and issuing agent and Fredersen Advokatbyrå is the legal advisor to Veg of Lund in connection with the exercise of the Warrants.
For further information concerning the Warrants, please contact:
Mangold Fondkommission AB
Telephone: +46 8 5050 1595
E-mail: emissioner@mangold.se
For more information, please contact:
Veg of Lund AB
Emma Källqvist (Acting CEO and CFO)
Telephone: +46 721 869 018
E-mail: emma.kallqvist@vegoflund.se
About Veg of Lund AB (publ)
Veg of Lund develops unique plant-based foods meeting consumers’ demands for taste and sustainability. The company has roots in research at Lund University and owns patented methods for developing new food categories in the fast-growing market for plant-based foods. Veg of Lund’s climate-smart and tasty products are sold in Europe and Asia under the DUG® brand. The company’s share is listed on the Nasdaq First North Growth Market under ticker VOLAB. Read more at ir.vegoflund.se. Mangold Fondkommission AB is the company’s Certified Adviser and can be contacted via telephone: +46 8 5030 15 50 or e-mail: ca@mangold.se.
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