Board decision to call for Extraordinary General Meeting to authorize the board regarding earlier proposed long-term financing
The Board of Directors of TargetEveryone AB (“TargetEveryone” or “the Company”) has today, at a Board meeting, decided to call an Extraordinary General Meeting for the shareholders to decide whether to authorize the Board in the planned capitalization process. The Board's decision and the planned authorization are attributable to the earlier proposed further long-term financing in connection with the strategic acquisition of Cloud Explorers AS. An authorization would give the Board the necessary flexibility and in connection with the authorization being used, a more detailed time plan will be communicated. The detailed notice of the Extraordinary General Meeting will be announced shortly.
Through the authorization, the Board's intention is to decide on a directed issue of units (consisting of warrants in two different series) free of payment to Formue Nord Markedsneutral A/S and Formue Nord Fokus A/S, which can provide gross SEK 30 million - 40 million at a strike price of SEK 1,50 - 2,00 per share, assuming full exercise of warrants issued in the planned directed issue of units. In addition, the Board intends to use the authorization to decide upon a rights issue of units (consisting of warrants in two series (same series as in the planned directed issue of units)), free of charge, to the existing shareholders to compensate the existing shareholders for the dilution from the earlier communicated directed share issue and the directed issue of units, which can bring in the equivalent of a maximum of additionally gross SEK 90,5 million. A shareholder authorization will give the Board flexibility and facilitate the capitalization process moving forward.
For further information regarding the planned financing and the intention to acquire Cloud Explorers AS refer to press releases published on the 17th of February 2020.
For further information contact:
Hosni Teque-Omeirat
CEO
+46 70 225 18 77
hosni@spectrumone.com
Certified Adviser:
Mangold Fondkommission AB (556585-1267)
Box 55 691 102 15 Stockholm
Telefon: +46 8 503 015 50
ca@mangold.se
www.mangold.se
About TargetEveryone
TargetEveryone is a MARTECH company, enabling our clients to streamline their 1-1 digital marketing, content and experiences within one SaaS online platform. Our unique solution makes marketeers able to easily target exactly the customers they want, and communicate with them in the channels they prefer, to maximize ROI. Our clients can easily segment their customers based on CRM data, market data and transactional data. Further, they can use a campaign editor to quickly build campaigns, and distribute these through our multichannel distribution system either by Email, SMS or SMS landing pages. TargetEveryone´s headquarter is in Oslo, with branch office in Sweden. TargetEveryone is listed on Nasdaq First North Growth Market in Stockholm and Merkur Market in Oslo.
www.targeteveryone.com