Inzile raises approximately SEK 32.7 million through redemption of series TO 1 warrants

During 1 to 30 August 2020, holders of warrants of series TO 1 of Inzile AB (publ) were able to subscribe for shares through warrants. A total of 2,670,485 shares have been subscribed for, which means a subscription rate of 99.2 percent. Inzile thus raises approximately SEK 32.7 million before issue costs.

- We are delighted at the outcome of the redemption of warrants, says Ragnar Åhgren, CEO of Inzile. The proceeds, together with existing cash, will finance the serial production of vehicles during the autumn as well as additional working capital requirements.

Inzile issued 5,386,125 warrants of series TO 1 in connection with a rights issue in May / June 2019. Two (2) warrants entitled the holder to subscribe for one (1) new share at a price of 12.25 SEK per share during the period 1-30 August 2020.

Among those who exercised the series TO 1 warrants were Ragnar Åhgren, CEO and largest owner of Inzile, Klas Åhgren, sales director and the third largest owner, and Bring Express Sweden AB, whose first order of a climate-neutral electric vehicle was delivered in June 2020.

A total of 2,670,485 shares were subscribed for. The Company thus raises proceeds of approximately SEK 32.7 million before issue costs. Consequently, 5,340,970 warrants of series TO 1 of a total of 5,386,125 were exercised, resulting in a subscription rate of 99.2 percent. Following the registration of the new shares at the Swedish Companies Registration Office, the share capital will amount to SEK 1,722,713.5. The total number of shares increases from 14,556,650 to 17,227,135. Minor adjustments to the above may be made in connection with the registration.

G&W Fondkommission has acted as financial advisor in connection with the redemption of warrants. Aktieinvest FK AB has been hired as issuing institute.

The Inzile share is traded on Nasdaq First North Growth Market under the ticker INZILE.

For further information, please contact:
Peter Wergens, CFO
Tel: +46 73-325 75 04
E-mail: peter.wergens@inzile.com

About Inzile

Inzile is a Swedish tech company creating intelligent electrically powered vehicles as well as modern transport and service solutions for a sustainable community. The company vision is to free the world from emissions of fossil fuels and to accelerate the climate efforts by contributing to smart cities that improve the quality of life.

Inzile was founded in 2012 based on a strong will to secure a future climate friendly utility vehicle sector. The team consists some of Scandinavia’s foremost authorities related to electrical vehicles, digitalization, production and purchasing. Inzile develops, produces, and sells innovative vehicle solutions on the global market based on the demanding Nordic climate, security requirements and environmental standards. The company is based in Sweden with the headquarters and production facility located in Västervik, R&D in Tranås and Munkedal as well as a marketing office located in Stockholm.

FNCA Sweden AB is the Company’s Certified Adviser, +46 8-528 00 399, info@fnca.se. 

For further information, please visit: www.inzile.com