Crunchfish

On May 21st, 2024, the Annual General Meeting of Crunchfish AB ("Crunchfish" or the "Company") decided on an incentive programme consisting of 750,000 warrants of series TO2024/2028 for employees and key resources of the Company with a strike price of SEK 18.93 for exercise in June 2028.

On June 27th, 2024, 577,024 warrants in the series TO2024/2028 have been subscribed to at a market price of SEK 1.47 each, based on the Black & Scholes valuation model using parameters from an independent valuation advisor. The holders of these warrants shall pay a total of SEK 848,225 to Crunchfish in August 2024. The TO2024/2028 warrants entitle the holders to subscribe for one Crunchfish share for SEK 18.93 per warrant in June 2028.

The company has allowed employees with warrants in the previous TO2022/2026 incentive programme to sell those warrants back to the company at SEK 0.14 each, a market prices calculated by the Black & Scholes valuation model with equivalent parameters used by the third-party valuation advisor. 193,000 TO2022/2026 warrants have been repurchased for a total of SEK 27,020. Most of those warrants were purchased in 2022 for SEK 2.14 per warrant. 506,500 warrants of the TO2022/2026 series are still outstanding having a strike price of SEK 35.49 in June 2026.

The 675,000 outstanding warrants in the TO2020/2024 series are about to expire at the end of June 2024, and most likely expire without any value as the strike price is SEK 46.22. No other warrants are outstanding in the Company than above-mentioned incentive programmes. Excluding the warrants in the TO2020/2024 programme there are 1,083,524 outstanding warrants representing a dilution of 2.7% if these warrants are exercised in June 2026 and 2028 respectively.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information was provided by the above for publication on 27th June 2024 at 14:30 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish - crunchfish.com

Crunchfish is a deep tech company developing a device-agnostic generic trusted client application platform for offline payments, tokenized card payments as well as other mobile client / server systems. Crunchfish has been listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.