NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, 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.
Today, May 27, 2025, the subscription period begins in Terranets AB’s (“Terranet” or the “Company”) rights issue of shares which the board of directors resolved on April 16, 2025 (the “Rights Issue”). The subscription period in the Rights Issue runs from and including May 27, 2025, up to and including June 11, 2025. However, note that some banks and nominees may have an earlier deadline for subscription in the Rights Issue. Shareholders should therefore check with their bank or nominee if they have an earlier deadline for subscription.
Summary of the Rights Issue:
- The Rights Issue comprises a maximum of 13,880,714 units. One unit in the Rights Issue consists of twelve (12) B-shares and three (3) warrants of series TO9 B. The warrants are issued free of charge.
- The subscription price per unit in the Rights Issue is SEK 1.08 per unit, corresponding to SEK 0.09 per B-share. Upon full subscription, the Rights Issue will provide Terranet with approximately SEK 15 million before deduction of issue costs.
- The right to subscribe for units in the Rights Issue shall, with preferential rights, be granted to shareholders in proportion to the number of shares they already own, where one (1) existing share entitles the holder to one (1) unit right, and eighty-six (86) unit rights entitle the holder to subscribe for one (1) unit.
- The last day of trading in Terranet’s B-shares including the right to receive unit rights in the Rights Issue is April 25, 2025. The B-shares will be traded excluding the right to receive unit rights from April 28, 2025.
- The subscription period for the Rights Issue runs from May 27, 2025, up to and including June 11, 2025.
- The Rights Issue is covered by subscription commitments of approximately SEK 35.2 thousand, corresponding to 0.2 percent of the Rights Issue, and underwriting commitments of approximately SEK 15 million, corresponding to approximately 99.8 percent of the Rights Issue. Thus, the Rights Issue is covered to 100 percent by subscription commitments and underwriting commitments.
Preliminary timetable for the Rights Issue
| May 27, 2025 – June 5, 2025 | Trading with unit rights |
| May 27, 2025 – June 11, 2025 | Subscripition period |
| May 27, 2025 – June 30, 2025 | Trading in paid subscribed units (BTU) |
| June 13, 2025 | Preliminary date for publication of the outcome in the Rights Issue |
Advisers
Mangold Fondkommission AB is the financial advisor to Terranet in connection with the Rights Issue. Eversheds Sutherland Advokatbyrå AB is the legal advisor to the Company in connection with the Rights Issue.
For more information, please contact:
Dan Wahrenberg, CFO
E-mail: dan.wahrenberg@terranet.se
About Terranet AB (publ)
Terranet’s goal is to save lives in urban traffic. The company develops innovative technical solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV). Terranet’s anti-collision system BlincVision laser scans and detects road objects up to ten times faster than any other ADAS technology available today.
The company is headquartered in Lund, with offices in Gothenburg and Stuttgart. Since 2017, Terranet has been listed on Nasdaq First North Premier Growth Market (Nasdaq: TERRNT-B).
Follow our journey at: www.terranet.se
Certified Adviser to Terranet is Mangold Fondkommission AB.
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 Terranet in any jurisdiction, neither from Terranet 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 Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States 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.
Attachment
- Press release – First day in subscription period
