Audientes announces outcome of the exercise of warrants of series TO 1
Company announcement no. 12-2023
17 April, 2023
During the period 27 March 2023 – 13 April 2023, holders of warrants of series TO 1 have been entitled to subscribe for new shares in Audientes A/S (CVR. No. 36 04 76 31). A total of 6,840,926 warrants of series TO 1 were exercised, corresponding to a subscription rate of approx. 70.5 percent. Audientes will thus receive approx. DKK 890,000 before deduction of transaction related costs of approx. DKK 256,000.
Steen Thygesen, CEO of Audientes, comments
“We are very pleased to see a continued confidence in Audientes operations and the willingness to support our mission to make high quality hearing aids and hearables for hearing improvement or hearing enhancement accessible to everyone who needs them. The issue proceeds will, among other things, contribute to our sales and marketing activities in India and surrounding countries, and in the EU. In accordance with our previously communicated strategic direction, we will in parallel continue to evaluate alternatives for short-, medium-, and long-term financing. I am certain that Audientes product portfolio have the potential to gain a strong foothold in the hearing health industry, for the benefit of users and the company’s shareholders”.
Outcome of the exercise of warrants of series TO 1
During the period 27 March 2023 up to and including 13 April 2023, holders of warrants of series TO 1 had the right to subscribe for one (1) new share in Audientes at a subscription price of DKK 0.13 per share. In total, 6,840,926 warrants of series TO 1 were exercised, corresponding to a subscription rate of approx. 70.5 percent. Audientes will thus receive approximately DKK 890,000 before deduction of transaction related costs, which are estimated to amount to approx. DKK 256,000 (approx. 29 percent of the proceeds in the company's exercise of warrants).
Number of shares and share capital
Through the exercise of TO 1, 6,840,926 new shares are issued. When the new shares have been registered with the Danish Business Authority, the number of shares in Audientes will increase from 28,747,024 shares to 35,587,950 shares and the share capital will increase from DKK 2,874,702.400 to DKK 3,558,795.00. This will result in a dilution effect of approx. 19 percent of the votes and capital. The decision on the allocation of shares is formally expected to take place on 19 April 2023. Conversion from interim shares to ordinary shares is expected to take place around the 27 April 2023.
Advisors
Audientes has engaged Danske Bank as the issuing agent and settlement agent in connection with the warrant exercise. Markets & Corporate Law Nordic AB is the legal advisor and Shark Communication AB is the communications advisor to the company in connection with the warrant exercise.
For further information about Audientes, please contact:
Steen Thygesen, CEO, Audientes A/S
Phone: +45 53 17 26 10
Email: [email protected]
Troels Torp, CFO, Audientes A/S
Phone: +45 40 52 18 80
Email: [email protected]
About Audientes A/S
Audientes A/S is a Danish hearing health company specializing in smart, self-fitting and affordable hearing aids and advanced hearables. Audientes’ unique hearing aid solution, Ven™ by Audientes, is available for purchase in the Indian market, online and in retail, and will be introduced to the US over-the-counter market and other markets in the coming years. Companion by Audientes is an advanced hearable consumer electronic product that is commercially available in Europe and later in 2023 in USA, Japan and other markets.
Audientes’ mission is to make high quality hearing aids and hearables for hearing improvement or hearing enhancement accessible to everyone who needs them globally. Audientes is listed on Spotlight Stock Market Denmark (AUDNTS) and headquartered in Copenhagen, Denmark with a subsidiary in Hyderabad, India.
For additional information please refer to the company’s website, https://audientes.com.
This disclosure contains information that Audientes is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 17-04-2023 18:00 CET.