Brain+ A/S announces the exercise price for its warrants of series TO 4
Copenhagen, Denmark, 13 September 2024 – Brain+ A/S (Nasdaq First North: BRAINP)
- The exercise price of the warrants of series TO 4 has been set at DKK 0.08
- The exercise period for the TO 4 warrants runs from 16 - 27 September 2024
- The warrants of series TO 4 are tradable on Nasdaq First North Growth Market with the last day of trading being 25 September 2024
Brain+ A/S (“Brain+” or “the Company”) completed a pre-emptive rights issue of units in June 2024. As part of the issue, a total of 65,496,978 warrants of series TO 4 were issued with each warrant giving the holder the right to subscribe for one (1) new share in the Company. The exercise price for the warrants of series TO 4 was to be set at 70 percent of the volume-weighted average price of the Company’s share on Nasdaq First North Growth Market during a calculation period of 20 trading days from 16 August 2024 up to and including 12 September 2024, however not lower than DKK 0.08 and not higher than DKK 0.10. During the calculation period, the volume-weighted average price in the Company’s share was approximately DKK 0.10, and the exercise price of the warrants of series TO 4 has therefore been set at DKK 0.08. The exercise period of warrants of series TO 4 runs from 16 September 2024 up to and including 27 September 2024.
Holders of Brain+ warrants of series TO 4, who which to exercise the rights attached to the warrants to subscribe for new shares in the Company at the subscription price of DKK 0.08, must inform their custodian bank no later than 27 September 2024. Please note that some custodian banks might have earlier deadlines for exercise than the official exercise period.
Holders of warrants of series TO 4, who do not wish to exercise their warrants to subscribe for new shares, should sell the warrants over the market no later than 25 September 2024. Please note that warrants of series TO 4 that are not exercised no later than 27 September 2024, or not sold no later than 25 September 2024, will expire without value. For warrants not to lose their value, the holder must actively subscribe for new shares or sell the warrants.
The complete terms and conditions for the warrants of series TO 4 can be found in the company announcement issued by Brain+ on 7 May 2024. The company announcement, as well as additional informative documents are available at the Company’s website: https://www.brain-plus.com/2024-unit-rights-issue/.
Summarized terms for Brain+’ warrants of series TO 4:
| Exercise period: | 16 - 27 September 2024 |
| Exercise price: | DKK 0.08 |
| Last day of trading: | 25 September 2024 |
| Issue volume: | 65,496,978 warrants, which entitle to a maximum subscription of 65,496,978 new Brain+ shares. If all warrants are exercised, the Company will receive approximately DKK 5.2 million in proceeds before issuing costs. |
| Dilution: | Upon full exercise of warrants of series TO 4, the number of shares of nominal value DKK 0.08 each in Brain+ will increase by 65,496,978 from 171,501,141 shares to 236,998,119 shares, and the share capital will increase by DKK 5,239,758.24 from DKK 13,720,091.28 to DKK 18,959,849.52. If all warrants of series TO 4 are exercised, the dilution of the number of shares and votes in Brain+ will be approximately 27.6 percent. |
How warrants are exercised (Nominee-registered warrants)
Subscription and payment for new shares by exercise of warrants shall be made in accordance with instructions from each nominee/custodian bank. Please contact your nominee/custodian bank directly for additional information and instructions.
Outcome
The outcome of the exercise of warrants of Series TO 4 will be published in a company announcement on or around 1 October 2024. Shares that have been subscribed and paid for will be delivered to the subscriber when registration of the capital increase has been completed with the Danish Business Authority.
Advisors
In connection with the rights issue, Sedermera Corporate Finance AB act as financial advisors to Brain+. Markets & Corporate Law Nordic AB act as legal advisor. Nordic Issuing AB is the issuing agent.
For more information about the warrant exercise, please contact:
Sedermera Corporate Finance AB
Phone: +46 (0) 40 615 14 10
E-mail: [email protected]
www.sedermera.se
For more information about Brain+ and the warrant exercise, please contact:
Kim Baden-Kristensen, CEO Hanne Vissing Leth, CFO
Phone: +45 31 39 33 17 Phone: +45 53 88 99 02
E-mail: [email protected] E-mail: [email protected]
Certified Adviser
Keswick Global AG
Phone: +43 1 740 408 045
E-mail: info@keswickglobal.com
Brain+ mission: Become the preferred provider of certified health tech solutions for better dementia management, servicing one million people affected by dementia by 2030.
