The subscription price for warrants of series TO 1 has been set at DKK 0.13 per share

Company Announcement nr. 7 - 2023: Audientes A/S (CVR. No. 36 04 76 31) hereby announces the subscription price for the exercise of warrants of series TO 1, which were issued in connection with the company’s rights issue of units that was announced on 18 November 2022, and in the following directed issue of units made to compensate guarantee commitments in the rights issue. The subscription price for all warrants of series TO 1 has been set at DKK 0.13 per share and the exercise period begins on 27 March 2023.

Information about warrants of series TO 1

In connection with the company’s rights issue of units that was announced on 18 November 2023, and the following directed issue of units made in order to compensate guarantee commitments in the rights issue, Audientes issued a total of 9,699,007 warrants of series TO 1.

Each warrant of series TO 1 entitles the holder to subscribe for one (1) new share in Audientes during the exercise period that runs from 27 March until and including 13 April 2023. The subscription price for warrants of series TO 1 has been set at DKK 0.13 per share, which corresponds to seventy (70) percent of the average volume-weighted price of the share according to Spotlight Stock Market’s official price statistics during a period of ten (10) trading days ending two (2) banking days before the exercise period begins. At full utilization of warrants of series TO 1, the company will be provided proceeds of approx. DKK 1,3 million before deduction of transaction related costs. 

Upon full exercise of warrants of series TO 1, the number of shares in Audientes will increase by 9,699,007 shares, to a total of 38,446,031 shares and the share capital will increase by DKK 969,900.70 to DKK 3,844,603.10. The dilution at full utilization amounts to approx. 25 percent of the capital and votes.

Complete terms and conditions for warrants of series TO 1 are available on the company’s website (audientes.com). An information brochure containing summary information about Audientes, and the warrant exercise will be available on the websites of Audientes.

Important dates

27 March 2023 – The exercise period begins

11 April 2023– Last day for trading in warrants

13 April 2023 – The exercise period ends

19 April – Planned communication of outcome of the warrant exercise

27 April– Planned conversion of interim shares to common shares

Information to warrant holders about subscription

In order for warrants not to expire and lose their value, an action from the warrant holder is required. The holder of warrants of series TO 1 must apply for subscription of new shares, by exercise of warrants, no later than 5 p.m. CEST 13 April 2023, alternatively sell the warrants no later than 11 April 2023.

Subscription and payment of new shares, by exercise of warrants, shall be made to the account-holding bank/nominee with which the warrants are registered. The subscription and payment shall be made in accordance with instructions from each such account holding bank/nominee. Usually, the account holding bank/nominee sends out a digital notice to the account holder, otherwise it is enough to log into the securities custody account from the first day in the exercise period in order to get instructions on how to exercise warrants for subscription of new shares. If you do not find these instructions, please contact your account holding bank/nominee. Please note that banks and other nominees may set different time limits for the last day for subscription, hence it is recommended to contact the account-holding bank/nominee early in the exercise period.

The account-holding bank/nominee with which the warrants are registered may request a submitted subscription form for the subscription to be accepted. Such a subscription form must be submitted to the account-holding bank/nominee in a complete and executed form in due time to allow the account-holding bank/nominee to process and forward the subscription form to ensure it is in the possession of Danske Bank A/S no later than 17.00 CEST on 13 April 2023. The subscription form can be found on Audientes’ website (www.audientes.com).

The number of warrants to be exercised will be transferred to Danske Bank A/S by your account-holding bank/nominee after the end of the subscription period. Payment for the exercised warrants will be made against delivery of temporary shares to your custody account, which afterwards will be replaced with the permanent shares. The new shares are expected to be listed for trading on Spotlight Stock Market on 26 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]

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.