VNV Global’s rights issue oversubscribed

MARKN.

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, HONG KONG, CANADA, JAPAN, NEW ZEALAND, SOUTH AFRICA, SWITZERLAND, SINGAPORE, SOUTH KOREA OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL. PLEASE SEE “IMPORTANT INFORMATION” AT THE END OF THIS PRESS RELEASE.



On 4 May 2023, VNV Global AB (publ) (“VNV Global” or the “Company”) announced the preliminary outcome of the Company’s rights issue of up to 16,412,638 common shares with a subscription price of SEK 20 per common share (the “Rights Issue”), for which the subscription period ended on 4 May 2023. The Company has today received the final outcome of the Rights Issue, which corresponds with the preliminary results, which concludes that 14,450,586 common shares, corresponding to approximately 88.0 percent of the offered common shares, have been subscribed for with subscription rights in the Rights Issue. Additionally, applications for subscription of 2,522,238 common shares without subscription rights, corresponding to approximately 15.4 percent of the offered common shares, have been received. In aggregate, the subscriptions by exercise of subscription rights and the applications for subscription without subscription rights correspond to approximately 103.4 percent of the offered common shares. Thus, the Rights Issue is oversubscribed and no guarantee commitments will need to be utilized. The Rights Issue will provide the Company with approximately SEK 328 million before deduction of costs related to the Rights Issue.
 

On 23 March 2023, VNV Global announced that the Board of Directors of the Company had resolved on the Rights Issue, on the basis of the authorization granted at the Company’s annual general meeting held on 12 May 2022.
 

Final outcome
The Rights Issue comprised of up to 16,412,638 common shares, and the final outcome concludes that 14,450,586 common shares, corresponding to approximately 88.0 percent of the offered common shares, have been subscribed for with subscription rights. Additionally, applications for subscription of 2,522,238 common shares without subscription rights, corresponding to approximately 15.4 percent of the offered common shares, have been received. Consequently, the Rights Issue is subscribed to approximately 103.4 percent of offered common shares with and without the support of subscription rights. Thus, the Rights Issue is oversubscribed and no guarantee commitments will be utilized. The last day of trading in paid subscribed shares (Sw. betalda tecknade aktier – BTA) is on 16 May 2023. The new common shares subscribed for with and without subscription rights are expected to be traded on Nasdaq Stockholm as from 23 May 2023. The Rights Issue will provide the Company with approximately SEK 328 million before deduction of costs related to the Rights Issue, which amounts to approximately SEK 25 million.
 

Notice of allotment
Those who have subscribed for common shares without subscription rights will be allocated common shares in accordance with the principles set out in the prospectus published on 19 April 2023. Notice of allotment to the persons who subscribed for common shares without subscription rights is expected to be distributed on or around 8 May 2023. Subscribed and allotted common shares shall be paid in cash in accordance with the instructions on the settlement note sent to the subscriber. Subscribers who have subscribed through a nominee will receive notification of allocation in accordance with their respective nominee’s procedures. Only those who have been allotted common shares will be notified.
 

Number of shares and share capital
Through the Rights Issue, the number of shares in VNV Global will increase by 16,412,638, from 119,149,152 to 135,561,790, and the share capital will increase by SEK 1,662,409.30, from SEK 12,068,423.00 to SEK 13,730,832.30.[1]
 

Advisers
Carnegie Investment Bank AB (publ) and Pareto Securities AB act as Joint Global Coordinators and Bookrunners. Advokatfirman Vinge and Milbank LLP are legal advisers to the Company in connection with the Rights Issue.



[1] As of the date of this press release, the Company has a total of 119,149,152 shares outstanding, consisting of 114,888,469 common shares and 4,260,683 Incentive Shares (of which 2,008,545 are series C 2019-shares, 502,138 are series C 2020-shares, 560,000 are series C 2021-shares and 1,190,000 are series C 2022-shares). Holders of Incentive Shares have entered into prior written commitments in which they have undertaken to refrain from subscribing for shares and relinquish their subscription rights attributable to their Incentive Shares. Subscription rights attributable to the Incentive Shares will therefore not be allotted to holders of Incentive Shares and thus not be part of the Rights Issue. All calculations in the press release exclude the subscription rights related to the aforementioned Incentive Shares as well as any changes in the share capital, nominal value and shares due to resolutions approved by the Annual General Meeting on May 4, 2023.

Datum 2023-05-05, kl 17:30
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