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During the third quarter of 2023, Wyld Networks AB (“Wyld Networks” or the “Company”) entered a loan agreement and conducted a directed issue and a rights issue. In connection with the transactions, Wyld Networks issued in total 3,839,998 warrants of series TO5. One (1) warrant of series TO5 entitles the holder to subscribe for 12.42 new shares in the Company. In the event that the number of warrants does not entitle the subscriber to a whole number of shares, the number of shares shall be rounded down to the nearest whole number. The exercise price for the warrants of series TO5 amounts to 70 percent of the volume-weighted average price in the Company’s share on Nasdaq First North Growth Market during the measurement period, which ran from and including October 30, 2024, up to and including November 12, 2024, however not higher than SEK 1.147 and not less than the quota value of the Company’s shares. During the measurement period, the volume-weighted average price in the Company’s share was approximately SEK 0.10, therefore, the exercise price for the warrants of series TO5 is SEK 0.07. The subscription period for warrants of series TO5 runs during the period from November 14, 2024, up to and including November 28, 2024.
If all the warrants of series TO5 are exercised, the Company will receive approximately SEK 0.3 million before issuing costs. For the warrants to not expire without value, it is required that the holder actively subscribes for new shares no later than November 28, 2024, or sell the warrants no later than November 25, 2024. Please observe that certain nominees might close their application earlier than November 28, 2024.
Summarized terms for the warrants of series TO5
Subscription period: November 14, 2024 – November 28, 2024.
Issue size: 3,839,998 warrants of series TO5, which entitles to subscription of 47,692,775 shares. If all warrants are exercised, the Company will receive approximately SEK 0.3 million before issuing costs.
Exercise price: SEK 0.07 per warrant of series TO5, corresponding to approximately SEK 0.0056 per share.
Last day for trading warrants of series TO5: November 25, 2024.
Share capital and dilution: If all warrants are exercised the share capital will increase with SEK 236,665.198873, from SEK 2,466,030.200661 to SEK 2,702,695.399543. If all warrants are exercised the number of shares in the Company will increase with 47,692,775 shares, from 496,954,449 shares to 544,647,224 shares. In the event that all warrants of series TO5 are exercised, the dilution amounts to approximately 8.8 percent of the number of shares and votes in the Company.
Please note that warrants that are not exercised by November 28, 2024, at the latest, or sold no later than November 25, 2024, will expire without value. For warrants not to lose their value, the holder must actively subscribe for new shares or sell the warrants.
How warrants are exercised
Nominee-registered warrants (Custody account)
Subscription and payment by exercise of warrants shall be made in accordance with instructions from each nominee. Please contact your nominee for additional information.
Direct-registered warrants (Securities account)
No accounts for issuing nor any instructions regarding payments will be sent out. Subscriptions will be made through simultaneous payment in accordance with the instructions on the application form. The warrants will then be replaced by interim shares awaiting registration at the Swedish Companies Registration Office.
The application form including instructions for payment will be available at Wyld Networks’ website, www.wyldnetworks.com.
Advisors
Mangold Fondkommission AB is financial advisor and Advokatfirman Schjødt is legal advisor to the Company regarding the warrants.
For further information about Wyld Networks, please contact:
Alastair Williamson, CEO Wyld Networks
E-mail: alastair.williamson@wyldnetworks.com
Tel: +44 7 824 997 689
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
Important information
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Wyld Networks in any jurisdiction, neither from Wyld Networks nor anyone else.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into The United States, Australia, Canada, New Zealand, Hong Kong, Japan, Singapore, South Africa, South Korea, Belarus, Russia or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.
This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129 and has not been approved by any regulatory authority in any jurisdiction. A prospectus was produced by the Company in connection with the rights issue in which warrants of series TO5 were issued. The prospectus is kept available at, inter alia, the Company’s website.
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