Arcane Crypto resolves on a directed set-off issue of MSEK 1.62The Board of Directors of Arcane Crypto AB ("Arcane" or the "Company") has today, by virtue of the authorization from the Annual General Meeting held on 21 May 2021, resolved on a directed set-off issue of no more than 9,215,845 shares at a subscription price of approximately SEK 0.1758 per share, corresponding to issue proceeds of MSEK 1.62. The issue is, with deviation from the shareholders' preferential rights, directed to Dividend Sweden AB (publ) and Crafoord Capital Partners AB and is paid by offsetting previously raised loans. The reason for the deviation from the shareholders' preferential rights is that the subscribers have the right to set off their claims against the Company that have arisen due to a loan agreement of MSEK 1.62 (including accrued interest) entered into with the Company on 30 September 2020. In light of the creditors' claims against the Company, the Board of Directors believes that the Company's financial position will be strengthened by set-off and that the payment of the newly issued shares can advantageously be made by set-off.
The subscription price per share amounts to approximately SEK 0.1758 and has been set in accordance with the loan agreement, which means that 9,215,845 shares will be issued. The subscription price has been determined based on the lowest daily volume-weighted average price of the Company's share on Nasdaq First North Growth Market for the 20 business days immediately preceding the date of the resolution of the issue, with a deduction for a discount of ten percent and is deemed market-based. Dividend Sweden AB (publ) shall have the right to subscribe for 6,143,897 shares and Crafoord Capital Partners AB shall have the right to subscribe for 3,071,948 shares.
The issue corresponds to issue proceeds of approximately MSEK 1.62. Through the issue, the number of shares increases by a total of 9,215,845 shares, from 8,053,722,316 to 8,062,938,161 and the share capital by approximately SEK 33,626.08, from SEK 29,385,808.701371 to SEK 29,419,434,774827, corresponding to a dilution of approximately 0.11 percent. Dividend Sweden AB (publ) and Crafoord Capital Partners AB have subscribed for all shares in the issue. For further information, please contact:
Torbjørn Bull Jenssen, CEO, Arcane Crypto AB
e-mail: [email protected]
web: investor.arcanecrypto.se
The following documents can be retrieved from beQuoted
PR-Press-Release-07-june-2021-Set-off-Release.pdf About Arcane Crypto
Arcane Crypto develops and invests in projects, focusing on bitcoin and digital assets. Arcane operates a portfolio of businesses, spanning the value chain for digital finance. As a group we deliver services targeting payments, investment, and trading. In addition, we have a media and research leg.
Arcane has the ambition to become a leading player in the digital assets space by growing the existing businesses, invest in cutting edge projects, and through acquisitions and consolidation.
The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser, tel. +46 8 5030 1550, e-mail: [email protected], web: www.mangold.se.
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