Wyld Networks enters into a loan agreement of SEK 12 million to accelerate business opportunities and issues warrants of series TO3 free of charge

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SWITZERLAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.

In light of strong performance in establishing new contracts with significant customers and the associated growth expansion, Wyld Networks AB (”Wyld Networks” or the "Company") has put in place an accelerated operating plan and has entered into a loan agreement of SEK 12 million (the ”Loan”) with Formue Nord Fokus A/S (the ”Lender”). This financing will bring forward the recruitment of sales and development resources, to help focus on accelerating the commercialization of the Company’s solution in global markets. Further, the Company has, with support from the authorization received from the extra ordinary general meeting held on March 23, 2021, decided to issue warrants of series TO3. A total of 2,275,000 warrants of series TO3 will be issued (the “Warrants”). The Warrants will approximately be distributed equally between the Lender and the current shareholders of the Company. The record date for current shareholders to receive warrants of series TO3 free of charge will be communicated through a separate press release as soon as possible.

The Loan

In order to enable an accelerated level of recruitment and thereby increase the Company’s possibility to execute on more projects, as well as to raise additional working capital, the Company has procured the Loan of SEK 12 million from the Lender. A set-up fee of 4.0% is charged upon signing of the loan agreement, and the Loan has a fixed interest rate of 1.0% as per the beginning of each 30-day period. Additionally, the Lender will receive 1,093,956 warrants of series TO3 (the same series that will be issued to current shareholders) as part of the financing agreement.

Warrants to current shareholders of Wyld Networks

The Company has also decided to issue warrants, free of charge, of series TO3 (the same series that the Lender receives) to current shareholders of the Company. A total of 1,181,044 warrants of series TO3 will be issued to the current shareholders, which will to some extent compensate the shareholders for the dilution that the Warrants issued to the Lender entails.

The record date the for the allotment of warrants of series TO3 will be communicated through a separate press release as soon as possible. Shareholders of Wyld Networks will receive one (1) warrant of series TO3 for every seven (7) shares held on the record date, rounded down.

Information and terms for the Warrants

Warrants of series TO3

A total of 2,275,000 warrants of series TO3 will be issued, of which 1,093,956 Warrants will be issued to the Lender and 1,181,044 Warrants will be issued the current shareholders of the Company.

Each warrant of series TO3 entitles the owner to subscribe for one (1) new share in the Company for a price of 70 percent of the volume weighted average price of the Company’s share on Nasdaq First North Premier Growth Market during the period commencing May 2, 2023, up until and including the May 15, 2023, however not higher than SEK 15.75 and not less than the nominal value of the Company’s share. The subscription period for the subscription of shares through exercising of warrants of series TO3 will run from May 17, 2023, up until and including May 31, 2023.

Upon full exercise of the warrants of series TO3, Wyld Networks will receive approximately SEK 35.8 million, based on a subscription price of SEK 15.75.

Wyld Networks will apply for admission to trading of the Warrants on Nasdaq First North Growth Market as soon as it is possible after the Warrants have been registered with the Swedish Companies Registration Office and the Warrants have been distributed to the Lender and the current shareholders.

Dilution

Upon full exercise of the warrants of series TO3 the dilution will amount to approximately 13.10%, (based on the assumption that all warrants of series TO1 and TO2 are exercised for the subscription of new shares).

Advisers

Mangold Fondkommission is financial advisor in connection with the Loan and the Warrants.

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 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 August 24, 2021, at 17:30 CEST.

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.

The Wyld Networks share (WYLD) is traded on the Nasdaq First North Growth Market. Certified Adviser is Mangold Fondkommission AB (tel +46 8-5030 1550, email ca@mangold.se).

Read more on www.wyldnetworks.com

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.

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.