Wyld Networks’ offering heavily oversubscribed

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The subscription period in Wyld Networks AB’s (“Wyld Networks” or the "Company”) issue of units in connection with the listing on Nasdaq First North Growth Market (the "Offering”) ended on 23 June 2021. There has been a large interest for the Offering and the Offering to the public in Sweden has been heavily oversubscribed. The Company’s share is intended to start trading on 2 July 2021.

Alastair Williamson, CEO of Wyld Networks comments:

“We are extremely proud of the large interest our IPO has generated from both retail and institutional investors – it is a major vote of confidence for the Company, our strategy, business model and commercial offer. This capital raise allows us to strengthen and expand our commercial and engineering teams to claim a leading position in the fast-growing global market of satellite and mesh network connectivity solutions.”

“We would like to thank our existing shareholders for their unwavering and continued support and welcome our new shareholders to an exciting new venture.”

Subscription

The Offering was oversubscribed resulting in 2,275,000 new shares and 4,550,000 new warrants being issued. The Company will receive SEK 25 million before issue costs. The warrants of series TO1 can raise a maximum of approximately SEK 31.3 million and the warrants of series TO2 can raise a maximum of approximately SEK 37.5 million to the Company.

Allocation

As a result of the significant interest shown for the Offering, not all subscribers have been allocated shares. Allotment of shares in the Offering has been decided in accordance with the principles set out in the EU growth prospectus prepared by the Company, which was approved by the Swedish Financial Supervisory Authority on 9 June 2021. Notification of allotment will be received via settlement notes, which are expected to be delivered on or around 28 June 2021. Subscribers who are not allotted any shares will not be notified. When the unit issue has been registered with the Swedish Companies Registration Office the warrants of series TO1 and TO2 will be delivered to the subscribers.

Shares and share capital

The Offering will entail an increase in the number of shares in the Company from 5,992,308 to 8,267,308. The number of warrants of series TO1 will be 2,275,000, and the number of warrants of series TO2 will be 2,275,000. The share capital in the Company will increase with SEK 189,826.69 from SEK 500,000.00 to SEK 689,826.69. If both series of warrants are fully subscribed, the number of shares will increase with 4,550,000 and the share capital will increase with SEK 379,653.38.

Timetable

The settlement day is on 30 June 2021.

First day of trading at Nasdaq First North Growth Market for the Company’s share is intended to be on 2 July 2021.

The warrants in the Offering will be delivered to the subscribers when the unit issue has been registered with the Swedish Companies Registration Office. The Company will apply for admission to trading of the warrants in connection to the registration and first day of trading will be announced in a separate press release.

Advisers

Mangold Fondkommission AB is financial advisor in connection with the Offering. Advokatfirman Schjødt is legal advisor to Wyld Networks.

For further information, please contact:

Alastair Williamson, CEO Wyld Networks
E-mail: alastair.williamson@wyldnetworks.com
Tel: +44 7 824 997 689

This information is information that Wyld Networks AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the above contact person's agency, at 11:00 CEST on 28 June 2021.

Certified Adviser

Mangold Fondkommission AB is acting as the Company’s Certified Adviser and can be reached on phone nr +46 8-5030 1550 and ca@mangold.se

About Wyld Networks AB

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.

Important information

This announcement is not and does not form a part of any offer for selling, or a request to submit an offer to buy or acquire, shares or other securities of the Company.

Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, South Korea, Switzerland or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.

The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any offering in the United States or to conduct a public offering of securities in the United States.

Matters discussed in this announcement may constitute forward-looking statements. Forward looking statements are statements that are not historical facts and may be identified by words such as “believe”, “expect”, “anticipate”, “intends”, “estimate”, “will”, “may”, "continue", “should” and similar expressions. This applies in particular to statements relating to future results, financial position, cash flow, plans and expectations of the Company’s operations and management, future growth and profitability, general economic and regulatory environment and other factors affecting the Company, many of which are based on further assumptions, such as no changes in existing political, legal, fiscal, market or economic conditions or applicable law (including but not limited to accounting principles, accounting methods and tax policies), which may or may not be of importance to the Company results or its ability to operate. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements.

Potential investors should therefore not attach undue confidence to the forward-looking information herein, and potential investors are urged to read the parts of the EU growth prospectus that include a more detailed description of factors that may affect the Company’s operations and the market in which the Company operates.

The information, opinions and forward-looking statements contained in this announcement speak only as at its date and could be subject to change without notice.