iZafe Group AB ("iZafe" or the "Company") issued, in connection with a rights issue in the fourth quarter of 2021, warrants of series TO10B. Each warrant gives the right to subscribe for one (1) new share of series B in the Company. The subscription price has been set to SEK 0.26 per each share of series B. The exercise period for warrants of series TO10B runs from September 27, 2022, up to and including October 11, 2022.
Each warrant gives the right to subscribe for one (1) new share of series B in the Company. The subscription price for the warrants of series TO10B shall correspond to 70 percent of the volume-weighted average price of the Company's share of series B on Nasdaq First North Premier Growth Market during the measurement period from and including September 12, 2022, up to and including September 23, 2022. However, not lower than the quota value for the Company's share and not higher than SEK 2.25 per share. The volume-weighted average price of the Company's share of series B during the measurement period amounted to approximately SEK 0.37. Thus, the subscription price is determined to SEK 0.26. The exercise period for warrants of series TO10B runs from September 27, 2022, up to and including October 11, 2022. Complete terms and conditions for the warrants of series TO10B are available on the Company's website, www.izafegroup.com.
Summarized terms for the warrants of series TO10B:
Exercise period: September 27, 2022 – October 11, 2022.
Exercise price: SEK 0.26 per share of series B.
Issue size: 35,435,674 warrants of series TO10B, which entitles to subscription of 35,435,674 shares of series B. If all the warrants are exercised, The Company will receive approximately SEK 9.2 million before issuing costs.
Last day for trading warrants of series TO10B: October 7, 2022.
Share capital and dilution: If all warrants are exercised the share capital will increase with SEK 7,087,134.80, from SEK 14,174,861.60 to SEK 21,261,996.40. If all warrants are exercised the number of shares will increase with 35,435,674 shares of series B, in total the number of shares in the Company will increase from 70,874,308 shares to 106,309,982 shares (600,000 shares of series A and 105,709,982 shares of series B). The dilution at full exercise of all warrants amounts to approximately 33.33 percent of the number of shares and 31.72 percent of the votes in the Company.
Note that the warrants of series TO10B that are not exercised at the latest October 11, 2022, or sold at the latest October 7, 2022, will expire without value. For the warrants not to lose their value, the holder must actively subscribe for new shares or sell the warrants.
Mangold Fondkommission AB is the financial advisor and Eversheds Sutherland Advokatbyrå AB is the legal advisor to the Company in connection with the exercise of the warrants of series TO10B.