Warrants of series TO3 were subscribed to approximately 97.1 percent and Wyld Networks AB receives approximately SEK 16.1 million
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Wyld Networks AB ("Wyld Networks" or the "Company") today announces the outcome of the exercise of warrants of series TO3, which were issued in connection with the Company's loan financing in August 2021. In total, 2,208,515 warrants of series TO3 were exercised, corresponding to approximately 97.1 percent of the total number of outstanding warrants of series TO3, for subscription of 2,208,515 shares at a subscription price of SEK 7.31 per share. Wyld Networks will receive approximately SEK 16.1 million before issuing costs through the exercise of the warrants of series TO3.
The subscription period for exercise of the warrants of series TO3 took place during the period from and including May 17, 2023, up to and including May 31, 2023. The subscription price per share for exercising the warrants of series TO3 was set to SEK 7.31.
In total, 2,208,515 warrants of series TO3 were exercised for subscription of 2,208,515 shares, meaning that approximately 97.1 percent of all outstanding warrants of series TO3 were exercised for subscription of shares.
Exercised warrants have been replaced with interim shares (IA), pending registration with the Swedish Companies Registration Office. The interim shares are expected to be converted to shares within approximately three (3) weeks.
Number of shares, share capital and dilution
Through the exercise of the warrants of series TO3, the number of shares in Wyld Networks increases by 2,208,515 shares, from 13,337,633 shares to a total of 15,546,148 shares. The share capital will increase by SEK 184,279.16, from SEK 1,112,896.15 to SEK 1,297,175.31.
For existing shareholders who did not exercise any warrants of series TO3, the dilution amounts to approximately 14.2 percent of the number of shares and votes in the Company.
Comment from Alastair Williamson, CEO
"We are delighted that so many have chosen to exercise their warrants and have subscribed for new shares in Wyld Networks. This provides the necessary fuel to ramp up the production and delivery of Wyld Connect Modules and deliver on the implementation of 5G NB-IoT. Moreover, it will help the growth of our recurring revenue stream for data orders. I am extremely excited as we continue this journey and thrilled to welcome all new shareholders to the company. At the same time, I would like to express my sincere gratitude to our existing shareholders for their support."
Mangold Fondkommission AB is financial adviser for Wyld Networks regarding the warrants.
For further information about Wyld Networks, please contact:
Alastair Williamson, CEO Wyld Networks
E-mail: [email protected]
Tel: +44 7 824 997689
This information is information that Wyld Networks AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the above contact person's agency, at 11:30 CEST on June 2, 2023.
About Wyld Networks
Wyld Networks develop and sells innovative wireless technology solutions that enables affordable connectivity anywhere in the World, addressing the problems for businesses and people regarding the lack of global mobile network coverage. The solutions are mainly targeted to wireless connectivity for the Internet of Things (IoT) and people.
Wyld Networks Ltd was formed in Cambridge, UK in 2016 and is a wholly owned subsidiary of Wyld Networks AB.
The Wyld Networks share (WYLD) is traded on the Nasdaq First North Growth Market.
Certified Adviser to Wyld Networks is Mangold Fondkommission AB.
Read more on: www.wyldnetworks.com
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