Warrants of series TO1 were subscribed to approximately 98.6 percent and Wyld Networks AB receives approximately SEK 25.2 million
Wyld Networks AB (”Wyld Networks” or the ”Company”) today announces the outcome of the exercise of warrants of series TO1, which were issued in connection with the Company’s new issue in connection the listing on Nasdaq First North Growth Market (“Nasdaq First North”) in July 2021. In total, 2,243,999 warrants of series TO1 were exercised, corresponding to approximately 98.6 percent of the total number of outstanding warrants of series TO1, for subscription of 2,243,999 shares at a subscription price of SEK 11.25 per share. Wyld Networks will receive approximately SEK 25.2 million before issuing costs through the exercise of the warrants of series TO1.
Background
The subscription period for exercise of the warrants of series TO1 took place during the period from and including March 22, 2022, up to and including April 4, 2022. The subscription price per share for exercising the warrants of series TO1 was set to SEK 11.25.
In total, 2,243,999 warrants of series TO1 were exercised for subscription of 2,243,999 shares, meaning that approximately 98.6 percent of all outstanding warrants of series TO1 were exercised for subscription of shares.
Exercised warrants have been replaced with interim shares (IA), pending registration with the Swedish Companies Registration Office. The interim shares are expected to be converted to shares within approximately three (3) weeks.
Number of shares, share capital and dilution
Through the exercise of the warrants of series TO1, the number of shares in Wyld Networks increases by 2,243,999 shares, from 8,267,308 shares to a total of 10,511,307 shares. The share capital will increase by SEK 187,239.96, from SEK 689,826.69 to SEK 877,066.65.
For existing shareholders who did not exercise any warrants of series TO1, the dilution amounts to approximately 21.35 percent of the number of shares and votes in the Company.
Comment from Alastair Williamson, CEO
“We are delighted that so many has chosen to exercise their warrants and subscribe for new shares in Wyld. This provides us with significant funding that boosts the ongoing work for full commercialisation of Wyld’s satellite IoT offering. The interest in Wyld from a range of stakeholders, including investors, continues to increase and we look forward to delivering on the significant business opportunities that lies ahead of us to create value for existing and new shareholders.”
Adviser
Mangold Fondkommission is the financial adviser for Wyld Networks regarding the warrants.
For questions regarding the warrants, please contact:
Mangold Fondkommission AB
emissioner@mangold.se
+46 8 5030 1595
For further information about Wyld Networks, please contact:
Alastair Williamson, CEO Wyld Networks
alastair.williamson@wyldnetworks.com
+44 7 824 997 689
This information is such that Wyld Networks AB is required to make public in accordance with the EU's Market Abuse Regulation (MAR). The information was made public by the Company's contact person above on April 6, 2022, at 09:15 CEST.
About Wyld Networks
Wyld Networks develop and sells innovative wireless technology solutions that enables affordable connectivity anywhere in the World, addressing the problems for businesses and people regarding the lack of global mobile network coverage. The solutions are mainly targeted to wireless connectivity for the Internet of Things (IoT) and people.
Wyld Networks Ltd was formed in Cambridge, UK in 2016 and is a wholly owned subsidiary of Wyld Networks AB.
Certified Adviser: Mangold Fondkommission AB, 08-503 015 50, ca@mangold.se.
Important information
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This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.