JonDeTech Sensors AB (publ) (‘’JonDeTech’’ or the ‘’Company’’) today announces the outcome of the exercise of warrants of series TO3, which were issued in connection with a rights issue in the Company during the fourth quarter 2023. In total, 633,208,500 warrants of series TO3 were exercised, corresponding to approximately 70.0 percent of the total number of outstanding warrants of series TO3, for subscription of 6,332,085 shares at an exercise price of SEK 2.95 per share. JonDeTech will receive approximately SEK 18.7 million before issuing costs through the exercise of the warrants of series TO3. During the exercise period for the warrants of series TO3, the Company received subscription commitments and top underwriting commitments, which were announced through a press release on October 9, 2024. Due to the exercise rate reaching approximately 70.0 percent, the top underwriting commitment will be utilized for the subscription of 2,711,760 shares, corresponding to approximately SEK 8.0 million and approximately 30.0 percent of the TO3 issue volume. Considering this, the board of directors, based on the authorization from the annual general meeting on May 3, 2024, intends to resolve on a directed issue of shares to a number of external investors (the “Underwriters”). Information regarding the directed share issue to the Underwriters will be announced through a separate press release.
Background
The exercise period for exercise of the warrants of series TO3 took place during the period from and including October 2, 2024, up to and including October 16, 2024. The exercise price per share for exercising the warrants of series TO3 was set to SEK 2.95.
In total, 633,208,500 warrants of series TO3 were exercised for subscription of 6,332,085 shares, meaning that approximately 70.0 percent of all outstanding warrants of series TO3 were exercised for subscription of shares. Through the exercise of the warrants of series TO3, JonDeTech will receive approximately SEK 18.7 million before issuing costs.
Exercised warrants have been replaced with interim shares (IA), pending registration with the Swedish Companies Registration Office. The interim shares are expected to be converted to shares within approximately two (2) weeks.
The board of directors intends to resolve on a directed issue of shares to the Underwriters
The Company has previously communicated that a supplementary directed issue of shares to the Underwriters would take place after the completion of the exercise period if the underwriting commitment is utilized. The outcome of the exercise of TO3 means that the top underwriting will be utilized. The top underwriting entails that the Underwriters commit to subscribing for the number of shares required to ensure that the exercise rate reaches 100 percent of the issue volume. The top underwriting compensation amounts to 15 percent of the underwritten amount in cash or 20 percent of the underwritten amount in shares. Underwriters who wish to receive underwriting compensation in the form of shares must notify Mangold Fondkommission AB no later than October 23, 2024. The subscription price in the directed share issue, in accordance with negotiated underwriting agreements, will be SEK 2.95 per share, corresponding to the exercise price for the exercise of TO3. In total, a maximum of 904,380 new shares may be issued as underwriting compensation to the Underwriters.
The Board’s decision regarding the directed issue of shares to the Underwiters will be announced through a separate press release.
Number of shares, share capital and dilution
Through the exercise of the warrants of series TO3, the number of shares in JonDeTech increases by 6,332,085 shares, from 17,069,863 shares to a total of 23,401,948 shares. The share capital will increase by SEK 3,482,646.75, from SEK 9,388,424.65 to SEK 12,871,071.40.
For existing shareholders who did not exercise any warrants of series TO3, the dilution amounts to approximately 27 percent of the number of shares and votes in the Company.
Comment from Leif Borg, CEO
“I would like to extend my heartfelt thanks to all of you who have chosen to participate in JonDeTech’s capital raise. During 2024, we have taken several decisive steps toward realizing our long-term strategy, in line with the vision we have previously shared with the market.
The new capital enables us to continue expanding our product portfolio with innovative and competitive solutions. Furthermore, we can strengthen our global presence by establishing a network of distributors, which is a key part of our go-to-market strategy. In addition, we will focus on optimizing our sales processes to create efficient workflows that generate new customers and projects, ultimately driving increased revenues and contributing to a long-term profitable business.”
Advisers
Mangold Fondkommission AB is financial adviser and Eversheds Sutherland Advokatbyrå is legal advisor for JonDeTech regarding the warrants.
For further information about JonDeTech, please contact:
Leif Borg, CEO JonDeTech
Tel: +46 73 810 93 10
E-mail: [email protected]
About JonDeTech
JonDeTech is a supplier of sensor technology. The company markets a portfolio of IR sensor elements based on proprietary nanotechnology and silicon MEMS. The nanoelements are extremely thin, built-in flexible plastic, and can be manufactured in high volumes at a low cost, which opens up for a variety of applications, such as temperature and heat flow measurements, presence detection, and gas detection. The company is listed on Nasdaq First North Growth Market. Mangold is the company’s Certified Adviser. Read more at : www.jondetech.com or see how the IR sensor works at : https://www.youtube.com/watch?v=mORloeCxbPE
Important information
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