iZafe Group AB (publ) (“iZafe Group” or “the Company”) issued 1,000,000 warrants (TO9) in connection with the procurement of a credit facility during April 2020. The exercise period for the TO 9 series warrants began on 12 April and ended on 16 April 2021. All warrants were subscribed, which adds SEK 2.6 million to iZafe Group before issue costs.
A total of 1,000,000 warrants were exercised, corresponding to 100 percent of issued warrants of series TO9. The subscription price per share would, in accordance with the warrant terms, correspond to 85 percent of the volume-weighted average price paid for the Company's B share during the period from 5 April 2021 to 9 April 2021 (5-day VWAP), but not less than SEK 2.20 and a maximum of SEK 2.60 per share and the subscription price has been set at SEK 2.60 per B share. Through the exercised warrants, iZafe Group is thus provided with SEK 2.6 million before issue costs.
"I am pleased that our lenders from 2020 are showing such great interest and believe in iZafe Group's continued journey towards strengthening our leading position in digital medicine dispensing." says iZafe Group's CEO Anders Segerström.
Number of shares and share capital
Through the exercise of the warrants, the number of shares in iZafe Group will increase by 1,000,000 Series B shares, from 34,427,700 to 35,427,700 Class B shares. The share capital increases by SEK 1,000,000, from SEK 34,427,700.00, to SEK 35,427,700.00.
The issue entails a dilution effect of the share capital of approximately 2.8 percent and of the number of votes of approximately 2.5 percent.
Stockholm Corporate Finance AB is the financial advisor, KANTER Advokatbyrå KB is the legal advisor and Hagberg & Aneborn Fondkommission AB is the issuing institution in connection with the exercise of options.
About Stockholm Corporate Finance
Stockholm Corporate Finance is an independent privately owned financial advisor that offers services within qualified advice regarding capital raising, ownership changes, acquisitions, mergers and divestments (M&A) to listed and private companies and their owners. Stockholm Corporate Finance is the exclusive Swedish partner in the global network M&A Worldwide, which consists of 50 M&A advisers and investment banks in 35 countries. Stockholm Corporate Finance is an investment firm under the supervision of Finansinspektionen and is a member of the trade association SwedSec Licensiering AB. For more information see: www.stockholmcorp.se.