ChromoGenics announces the outcome of exercised warrants of series TO 6
The board of directors of ChromoGenics AB (publ) ("ChromoGenics" or the "Company") today announces the outcome of the exercise period for warrants series TO 6 (the "Warrants") that were issued in connection with ChromoGenics' rights issue of units that was announced on 17 May 2023 (the "Rights Issue"). The Warrants were subscribed to approximately 0.25 percent. In total, ChromoGenics will receive approximately SEK 51 thousand before issue costs.
Within the framework of the Rights issue, ChromoGenics issued 240,222,962 Warrants. The Company has, following the Rights Issue, carried out a reverse share split, whereby one hundred (100) shares were consolidated into one (1) share (Sw. sammanläggning 1:100). As a result of the reverse share split, the number of shares that each Warrant entitles to subscription of has been recalculated in accordance with the terms of the Warrants. One hundred (100) Warrants entailed the right to subscribe for one (1) new share in the Company at a subscription price corresponding to 70 percent of the volume-weighted average price paid for the Company's share on Nasdaq First North Growth Market during a period of ten trading days ending on 31 October 2023 (including 31 October 2023), but not less than the share's quota value. The volume-weighted average price for the Company's shares during the period amounted to approximately 5.71 SEK. Therefore, the subscription price was set at SEK 8.51 per share since the volume-weighted average price of the Company's shares during the period was below the share's quota value. The exercise period of the Warrants lasted until and including 20 November 2023. The final outcome shows that the exercise rate amounted to approximately 0.25 percent, meaning that 597,900 Warrants were used for subscription of 5,979 shares. Exercised Warrants have been replaced with interim shares, pending registration with the Swedish Companies Registration Office. The interim shares are expected to be converted into shares within approximately two (2) weeks, i.e., around 5 December 2023.
Through the exercise of Warrants, the Company will receive approximately SEK 51 thousand before issue costs. The total number of shares in ChromoGenics increases by 5,979 from 4,118,987 to 4,124,966. The share capital in ChromoGenics increases by 50,881.29 SEK, from 35,011,396.13 SEK to 35,062,277.42 SEK.
Uppsala 22 November 2023
ChromoGenics AB (publ)
For further information, please contact:
Fredrik Fränding, CEO, ChromoGenics
Tel: +46 (0)72 249 24 62
E-mail: [email protected]
This information was submitted, through the care of the above contact person, for publication on 22 November 2023 at 22:30 CET.
Certified Advisor:
Vator Securities AB, Kungsgatan 34, SE-111 35 Stockholm
E-mail: [email protected]. Tel: +46 (0)8-580 065 99
About ChromoGenics
ChromoGenics is a proptech company producing smart dynamic glass that improves indoor environments and well-being and lowers buildings' energy consumption, operating expenses and impact on the climate. The company's product ConverLight® Dynamic is based on a unique patented technology from the Ångström Laboratory in Uppsala, where electrochromic coatings are sputtered onto plastic film. The result is a dynamic film that can be laminated between glass layers, which provides buildings with good solar protection and lowered environmental impact from production, transport and use. The dynamic film is easy to transport and can be applied by local partners in the glass industry, which means it is possible to avoid long-distance shipping of bulky glass. All of ChromoGenics' products strive to follow the key words environment and health. This means a focus on environmentally friendly material, lower energy consumption, increased access to daylight and views and improved indoor comfort.
The company's production facilities in Uppsala have been financed in part by a conditional loan from the Swedish Energy Agency. ChromoGenics' share (CHRO) is listed on Nasdaq First North Growth Market, and Vator is the Certified Adviser.
IMPORTANT INFORMATION
The information in this press release neither contains nor constitutes an offer to acquire, subscribe or otherwise trade in shares, warrants or other securities in ChromoGenics. The invitation to interested persons to subscribe for units consisting of shares and warrants series TO 6 in ChromoGenics has only taken place through the prospectus that ChromoGenics published on 21 June 2023. Readers are asked to read the prospectus for a description of the risks which are linked to an investment in the Company. This press release may not be published, published or distributed, directly or indirectly in or to the United States, Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, or any other jurisdiction where such action is wholly or partially subject to legal restrictions.
