The exercise period for FluoGuide warrants TO1 begins today
April 16, 2020
Today, 16 April 2020, begins the exercise period for the warrants of series TO 1 that was issued in connection with FluoGuide A/S’s (“FluoGuide”) issue of units, prior to listing on Spotlight Stock Market. The exercise period runs until and including 7 May 2020. Upon full exercise of all warrants of series TO 1, FluoGuide will be allocated approximately DKK 6.4 million (before costs). FluoGuide has agreed on free-of-charge underwriting commitments of approximately 19% of the total exercise of warrants TO 1. The top-down underwriting commitments will be activated if the warrants are not fully exercised, in which case the underwriters undertake to subscribe for up to 203,737 shares.
FluoGuide issued units in its IPO in 2019. Each unit consisted of three shares and one free warrant TO 1. During the exercise period, which starts today, each warrant holder has the possibility, for each warrant, to subscribe for one regular new FluoGuide share for DKK 5.95 per share. The exercise period ends on 7 May 2020. The warrants are traded on Spotlight Stock Market until 5 May 2020. The warrant holders are able to exercise their warrants until 7 May 2020 or sell them at the latest on 5 May 2020, by instructing their bank. It is important to follow the instructions from the bank and allow sufficient time for handling the instruction and payment to be sure to act before the exercise period expires. The warrants TO 1 cease after the exercise period and thereafter has no value.
Upon full exercise of all warrants of series TO 1, FluoGuide will be allocated approximately DKK 6.4 million (before costs). FluoGuide has agreed on underwriting guarantees corresponding to approximately 19% of the total number of warrants. The underwriters’ guarantee is activated if not all of the warrants are exercised, in which case the underwriters will subscribe for shares corresponding to exercising up to 203,737 TO 1 warrants corresponding to approximately 19% of all outstanding warrants. The minimum proceeds of DKK 1.2 million (before costs) is therefore guaranteed. If the guarantee is to be activated, the subscription of shares from the guarantors will in practice take place through a directed share issue which in that case will be decided upon by the Board of Directors, with support from an authorization that is planned to be granted the Board at the upcoming Annual General Meeting, after the exercise period for the warrants. No compensation is given for the guarantee commitment.
The terms for the warrants in brief:
- Exercise period: 16 April to 7 May 2020.
- Exercise price: Each warrant entitles the holder the right to subscribe for one (1) new share in FluoGuide at a subscription price of DKK 5.95 per share.
- Issue volume: There is a total of 1,074,758 warrants of series TO 1 outstanding. The warrants can provide the FluoGuide with a total of DKK 6,394,810.10 (before issue costs) if all warrants are exercised.
- The number of outstanding shares in FluoGuide before warrants are exercised: 9,455,268 shares.
Important dates in connection to the exercise period for warrants of series TO 1
- The exercise period begins on 16 April 2020
- Live broadcasted company presentation (see here for more information): 23 April 2020 at 13.00
- Annual General meeting (see here for more information): 23 April 2020 at 16.00
- The last day for trading in warrants: 5 May 2020
- The exercise period ends: 7 May 2020
- Planned communication of outcome: 11 May 2020
For more information regarding the warrants of series TO 1, please contact:
Phone: +46 40 – 615 14 10