In November 2019 iZafe Group AB (publ) (“iZafe” or “the Company”) carried out a rights issue of units, consisting of shares and series TO 8 B warrants. The subscription period for the series TO 8 B warrants begins on Friday, December 4, 2020 and continues up to and including December 18, 2020.
One (1) series TO 8 B warrant entitles the holder to subscribe for one (1) new Class B share in iZafe. Under the terms of the warrants the exercise price is SEK 3,30. If all the warrants are exercised, iZafe will receive proceeds of around SEK 9,4 million before issue costs.
Summary instructions and important dates
• Warrant holders wishing to exercise these warrants to subscribe for Class B shares must notify this themselves in good time before Friday, December 18, 2020. After this date the warrants will expire and become worthless.
• Holders who do not wish to exercise their warrants are recommended to sell them. The warrants will be traded up to and including Wednesday, December 16, 2020.
Detailed instructions for holders of warrants are given below.
Exercise of warrants held by a nominee
Those whose series TO 8 B warrants are held by a nominee [held in a custodian account, investment savings account (ISK) or endowment policy (KF)] must notify that they wish to exercise warrants by contacting their nominee and following the nominee’s instructions for subscription and payment. This should be done in good time before Wednesday, December 16, 2020, since different nominees have differing processing times.
Exercise of warrants registered in own name
Holders of series TO 8 B warrants that are registered in their own name [holdings in a securities (VP) account] must notify that they wish to exercise warrants by completing and submitting a Notice of Exercise for iZafe’s series TO 8 B warrants so that it is received by the issuing agent Hagberg & Aneborn Fondkommission by 15:00 CET on Friday, December 18, 2020 at latest.
The Notice of Exercise can be downloaded from:
iZafe’s website, www.izafe.se/teckningsoptioner; and
Hagberg & Aneborn Fondkommission’s website, www.hagberganeborn.se
Note that payment for the new shares must also be received by Hagberg & Aneborn Fondkommission by December 18, 2020 at the latest in accordance with the instructions in the Notice of Exercise.
Trading in iZafe series TO 8 B warrants
Holders who do not wish to exercise their warrants are recommended to sell them on First North Premium Growth so that another party can exercise the warrants. The iZafe series TO 8 B warrant is being traded on First North Premium Growth up to and including Wednesday, December 16, 2020. Warrants that are not exercised before December 18, 2020 or sold before December 16, 2020 will expire and become worthless.
Result and delivery of new shares
The result of the exercise of series TO 8 B warrants will be published in a press release on or around Friday, December 18, 2020.
The new shares will be delivered to the subscribers’ accounts as interim shares (IS). They will then be admitted to trading on First North Premium Growth as soon as the issue has been registered with Bolagsverket (the Swedish companies registration office) and Euroclear.
Full terms and conditions for iZafe series TO 8 B
Full terms and conditions for iZafe series TO 8 B are available in the information memorandum prepared by iZafe’s Board of Directors in conjunction with the rights issue in 2019.
The memorandum can be downloaded from iZafe’s website www.izafe.se/teckningsoptioner or be downloaded directly here.
ISIN code
The ISIN code for iZafe series TO 8 B is SE0013409406.
Number of series TO 8 B warrants and potential proceeds
The number of warrants amounts to 2,862,129. If all the warrants are fully exercised, iZafe will receive proceeds of around SEK 9,4 million, before issue costs.
Advisor
Stockholm Corporate Finance AB is acting as financial advisor, KANTER advokatbyrå KB as legal advisor and Hagberg & Aneborn Fondkommission AB as issuing agency in connection with the exercise of the warrants.
About Stockholm Corporate Finance
Stockholm Corporate Finance is an independent privately-owned financial advisor offering expert advisory services relating to capital raising, changes in ownership, and mergers, acquisitions and divestments (M&A) for listed and privately held companies and their owners. Stockholm Corporate Finance is the exclusive Swedish partner in the global network M&A Worldwide, which is comprised of 46 M&A advisors and investment banks in 38 countries. Stockholm Corporate Finance is under the supervision of Finansinspektionen (Sweden’s financial supervisory authority) and is a member of industry organization SwedSec Licensiering AB. For more information see www.stockholmcorp.se/eng/.