Move About announces outcome in rights issueNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, BELARUS, HONGKONG, JAPAN, CANADA, NEW ZEALAND, RUSSIA, SWITZERLAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.
Move About Group AB ("Move About" or the "Company") has completed the rights issue of units, which the extraordinary general meeting decided on January 23, 2023 (the "Rights Issue"). The Rights Issue has been subscribed to approximately 90,0 percent, where approximately 56.1 percent was subscribed through use of unit rights and approximately 33.9 percent was subscribed without use of unit rights. This means that no underwriting commitments will be claimed. 3,803,549 units, corresponding to approximately SEK 4,9 million, were subscribed via set-off of prepaid subscription commitments and 4,046,160 units, corresponding to approximately SEK 5.3 million, were subscribed by Aggregate Media Fund XI KB and E. Nordenfelt AB via set-off. In total, 7,849,709 units, corresponding to approximately SEK 10,2 million, was subscribed via set-off. The Rights Issue will provide the Company with approximately SEK 31.6 million, of which approximately SEK 21.4 million in cash and approximately SEK 10.2 million via set-off, before issuing costs. "I would like to extend a big thank you to both existing and new shareholders who supports us through participation in the rights issue. With the issue proceeds, we're looking forward to continuing our transition to profitable growth and intensifying the work of running our core business more efficiently to generate a significantly higher return on our electric car pools and for the company as a whole."
- Olof Jonasson, CEO Move About Group AB
Outcome in the Right Issue
The subscription period in the Rights Issue ended on February 15, 2023. The final outcome shows that a total of 24,312,240 units have been subscribed for through the Rights Issue and the Company will thus receive approximately SEK 31.6 million before issue costs, of which approximately SEK 10.2 million through set-off. Upon full exercise of all warrants of series TO2 issued within the Rights Issue and the directed set-off issue, which the extraordinary general meeting decided on January 23, 2023, the Company may be provided with additional capital of up to approximately SEK 27.3 million after the exercise period for the warrants, that runs from and including September 4, 2023, up to and including September 15, 2023.
Allotment of units subscribed without the support of unit rights
Allotment of units subscribed without the support of unit rights has taken place in accordance with what is stated in the prospectus that the Company published on January 25, 2023, due to the Rights Issue. Notification of such allotment is announced separately through settlement notes. Nominee-registered shareholders receive notification of allotment in accordance with instructions from the respective nominee.
Shares and share capital
Through the Rights Issue, the number of shares in the Company increases by 48,624,480 shares and the share capital increases with 1,215,612.000 SEK. The Rights Issue, together with the directed set-off issue of approximately SEK 12.3 million, which the extraordinary general meeting decided on January 23, 2023, entail an increase in the number of shares in the Company by 67,483,142 shares, from 27,011,983 shares to 94,495,125 shares. The share capital will increase with SEK 1,687,078.550, from SEK 675,299.575 to SEK 2,362,378.125. If all warrants of series TO2 issued within the Rights Issue and the directed set-off issue are exercised for subscription of new shares in the Company, the number of shares in the Company will increase with an additional 33,741,571 shares, from 94,495,125 shares to 128,236,696 shares. The share capital will increase with an additional SEK 843,539.275, from SEK 2,362,378.125 to SEK 3,205,917.40.
Warrants of series TO2
Each warrant of series TO2 entitles the holder to subscribe for one (1) new share in the Company. The subscription price for exercising the warrants of series TO2 amounts to seventy (70) percent of the volume-weighted average price (VWAP) of the Company's share on Nasdaq First North Growth Market during the period from and including August 21, 2023, up to and including September 1, 2023, however at minimum the share's quota value and a maximum of SEK 0.81 per share.
Paid Subscribed Unit
Trading with BTU (Paid Subscribed Unit) takes place on Nasdaq First North Growth Market until the conversion of BTU into shares and warrants after the Rights Issue has been registered with the Swedish Companies Registration Office. Final registration with the Swedish Companies Registration Office is expected to take place during week 9, 2023.
Compensation to underwriters
In connection with the Rights Issue external investors, including Mangold Fondkommission, have provided underwriting commitments. For the underwriting commitments, an underwriting compensation is due of fifteen (15) percent of the guaranteed amount in cash compensation or twenty (20) percent of the guaranteed amount in the form of units with a subscription price corresponding to the subscription price per unit in the Rights Issue. The respective underwriter has the right to choose whether the underwriting compensation is to be paid in cash or in the form of units.
Advisers
Mangold Fondkommission AB is financial adviser and Eversheds Sutherland Advokatbyrå AB is legal adviser to Move About Group AB in connection with the Rights Issue. For further information, please contact:
Olof Jonasson, CEO, Move About Group AB
[email protected]
Tel: +46 790 683 811
This information is information that Move About Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:45 (CET) on February 20, 2023.
Certified Adviser
The Company's Certified Adviser is Mangold Fondkommission AB. About Move About Group AB
Move About offers app-based, environmentally friendly and cost-effective mobility solutions to individuals, companies, municipalities and organizations. The Company has developed and owns all intellectual property rights to the cloud-based green tech platform that provides digital access to electric cars, electric bicycles, taxis, subway and parking, all through the same app - around the clock. Every kilometre that the user travels with the electric cars via the platform means reduced CO2 emissions. The Company's comprehensive mobility solutions are based on the Move About app, which gives the user access to the Company's pools of electric cars, bicycles and scooters. Move About also helps companies, municipalities and organizations optimize their fleets by tailoring mobility solutions to their needs. Move About was founded in Oslo, Norway, in 2007 and has approximately 70,000 users on its platform and over 800 electric cars in its vehicle fleet with a presence in Sweden, Norway and Germany.
If you want to open the text in your webbrowser
click here
______________________________________________________
This information was sent by beQuoted
If you want more information, please go to www.beQuoted.com
To change your subscription, please inform [email protected] beQuoted Press är en service till Dig som är intresserad av finansiell information. Med beQuoted Press underlättas företagens finansiella kommunikation till Dig och till nyhetsbyråer, aktieägare, placeringsrådgivare och andra intressenter på aktiemarknaden.
Vi hoppas att Du uppskattar denna service.
|
