Incoax Networks AB announces the outcome for exercising warrants of series 2021
The period for exercising warrants of series 2021 ("Warrants") for subscription of shares in Incoax Networks AB (publ) ("InCoax" or "the Company") ended on December 31, 2021. A total of 9,047,114 Warrants were exercised for 4,523,557 shares, corresponding to an exercise rate of approximately 99 percent, and the Company receives approximately SEK 22.6 million before issue costs.
Two (2) Warrants entitled to subscription of one (1) new share in the Company against cash payment of SEK 5 per share during the period December 1, 2021, through December 31, 2021. The Company today announces that 9,047,114 Warrants have been exercised for subscription of 4,523,557 shares, corresponding to an exercise rate of approximately 99 percent. The Company will thus receive approximately SEK 22.6 million before issue costs.
Number of shares, share capital and dilution
After registration of the new shares with the Swedish Companies Registration Office (Sw. Bolagsverket), the Company's share capital will increase by SEK 1,130,889.25 to a total of SEK 10,278,354.50. The number of shares in the Company will increase by 4,523,557 shares to a total of 41,113,418 shares.
The dilution for existing shareholders who have not exercised the Warrants amounts to approximately 11 percent of the shares and votes in InCoax.
Delivery of new shares
The new shares will be delivered to the subscribers' accounts as interim shares. Immediately after registration with the Swedish Companies Registration Office and Euroclear and interim shares have been converted into ordinary shares, the new shares will be admitted to trading on Nasdaq First North Growth Market.
Financial and legal advisers and issuing agent
Västra Hamnen Corporate Finance AB is the financial advisor and Setterwalls Advokatbyrå is the legal advisor in connection with the exercise of the Warrants. Furthermore, Aqurat Fondkommission AB acts as issuing agent in connection with the exercise of the Warrants.
The information was submitted for publication, through the agency of the contact person set out above, at 08.30 (CET) on January 4, 2022.
IMPORTANT INFORMATION
The information in this press release does not contain or constitute an offer to acquire, subscribe for or otherwise trade in shares, warrants or other securities in InCoax. Invitation to the persons concerned to subscribe for units consisting of shares and warrants in InCoax has only taken place through the prospectus that InCoax published on April 7, 2021.
The English text is an unofficial translation of the original Swedish text. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.
For further information, please contact:
Jörgen Ekengren, CEO, InCoax Networks AB
jorgen.ekengren@incoax.com
+46 73-899 55 52
About the Company
InCoax Networks AB (publ) develops systems for reuse of buildings' existing infrastructure for broadband access. We offer network solutions with MultiGigabit speed to the world's leading telecom and broadband operators. For more information about the company, visit www.incoax.com. Augment Partners AB, tel. +46 8-604 22 55 info@augment.se, is the Company's Certified Adviser.
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