Warrants of series TO2 are subscribed for approximately 90 percent and OmniCar Holding AB will receive approximately SEK 17.4 million.

OmniCar Holding AB (''OmniCar'' or ''the Company'') announces today the outcome of the exercise of warrants of series TO2, corresponding to approximately 90 percent of warrants of series TO2, for subscription of 17 402 362 shares at a subscription price of SEK 1,00 per share of series B. Through the exercise of the warrants of series TO2, OmniCar will receive approximately SEK 17.4 million before issue costs.

The "Top-down underwriting" which was intended to secure the last part of the subscription in the warrant redemption in the event that all TO2 are not exercised by existing holders is activated. A directed share issue to an amount of approximately SEK 2,1 million will be carried out to the underwriters, which means that OmniCar through the exercise of warrants of series TO2 and the directed share issue to participants of the underwriting will receive the full amount of SEK 19,5 million before issue costs. 

"It is very gratifying to see the high subscription rate that was achieved. The successful outcome shows that there is trust in OmniCar from the behalf of our shareholders, which indicates that we have succeeded in achieving and realizing important milestones over the past twelve months. We continue to explore the great potential that the company possesses and we intend to realize this through hard work in the future, says Mikkel Christensen, CEO of OmniCar.

We are currently working full time to launch OmniCarService in new markets at the same time as we are expanding our presence on the streets of Denmark by continuously launching new service cars. There is a high level of activity from both private individuals but also interesting companies that have shown interest in our services. Through the capital injection, we can now pursue our plans with OmniCarSale, our online car sales platform and also introduce our unique ecosystem by offering and combining car sales with related products and services such as car insurance, financing, battery packs, roadside assistance and service-related features through our existing OmnicarService setup."

Background

The subscription period for the exercise of the TO2 series warrants lasted during the period from 15 November to 29 November 2021. The subscription price per share when exercising the TO2 series warrants was set at SEK 1,00.

A total of 17 402 362 warrants of series TO2 were exercised to subscribe for 17 402 362 Series B shares, meaning that approximately 90 percent of the outstanding TO2 series warrants were exercised for subscription of shares.

By using the "top-down guarantee" of SEK 2,1 million, OmniCar receives the full amount of SEK 19,5 million before issue costs. The costs associated with the directed share issue will amount to approximately SEK 300 000 of which SEK 277 380 is the underwriting fee and the rest associated legal fees.

Exercised warrants have been replaced with interim shares (IA) pending registration with the Swedish Companies Registration Office. The conversion of IA into shares is expected to take place within approximately three (3) weeks.

Change in number of shares and share capital

Through the exercise of warrants of series TO2 and the directed share issue to the underwriters, the total number of shares in OmniCar increases by 19 526 231 shares, from 29 640 698 shares to a total of 49 166 929 shares. The share capital increases by SEK 1 952 623.10, from SEK 2 964 096.80 to SEK 4 916 692.90.

Claus T. Hansen

cth@omnicar.dk