The board and management of Terranet subscribe in the ongoing rights issue
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, 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.
Members of Terranet AB’s board and management intend to subscribe in the ongoing rights issue. Göran Janson intends to subscribe for all his held rights, whilst Torgny Hellström and Magnus Andersson will subscribe with rights transferred to them by Anders Blom. Further, Anders will subscribe privately for his remaining rights, in addition to the subscription commitment of SEK 13.0 million that Anders has made through Maida Vale Capital AB.
Terranet has received commitments from the following persons who intend to subscribe in the Company’s ongoing rights issue, privately or through a company:
|Role in the Company
|Chairman of the Board
Through these subscription commitments, the board and management show their confidence and solid faith in Terranet’s future prospects.
“It feels exciting for me to be able to buy into Terranet at this stage, having now worked here for a period and having been able to observe the steps we are taking together towards our goals. I also think that it feels great and ensuring with good support from other members of the board, it shows that we share the vision we have for Terranet going forward.”
Comments Magnus Andersson, CEO.
The rights issue in brief
Conditions: One (1) existing share entitles to one (1) unit right, where four (4) unit rights entitle to subscription of one (1) unit
Unit: One (1) unit contains five (5) B shares and three (3) warrants of series TO6 and three (3) warrants of series TO7
Subscription period: May 29 – June 13, 2023
Subscription price: SEK 0.90 per unit, corresponding to SEK 0.18 per share
Issue volume: Approximately SEK 75.4 million
You can read more about the rights issue here: link.
Mangold Fondkommission AB is the financial advisor to Terranet in connection with the Rights Issue. Eversheds Sutherland Advokatbyrå AB is the legal advisor to the Company in connection with the Rights Issue.
For more information, please contact:
Magnus Andersson CEO
Email: [email protected]
About Terranet AB (publ)
Terranet is on a mission to save lives in urban traffic.
We develop breakthrough tech solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV) that protect vulnerable road users.
With a unique patented vision technology, Terranet’s anti-collision system BlincVision laser scans and detects road objects up to ten times faster and with higher accuracy than any other ADAS technology available today.
Terranet is based in Lund, Sweden, and in the heart of the European automotive industry in Stuttgart, Germany. The company is listed on Nasdaq First North Premier Growth Market since 2017(Nasdaq: TERRNT-B).
Follow our journey at www.terranet.se
Certified Adviser to Terranet is Mangold Fondkommission AB.
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Terranet in any jurisdiction, neither from Terranet nor anyone else.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.
- PM_Terranet ENG – Subscription BOD
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. DailyIndiaNews.com takes no editorial responsibility for the same.