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Outcome of the first exercise period for ChromoGenics warrants of series 2020/2022:1
The first exercise period of two has now been completed regarding the warrants of series 2020/2022: 1 (“ChromoGenics TO 2020/2022” or “Warrant”) that ChromoGenics AB (“ChromoGenics” or “the Company”) issued in connection with a rights issue of units at the end of 2020 (“Rights Issue”). ChromoGenics will receive approximately SEK 0.5 million before issue costs through the exercise of the Warrants.
At the end of 2020, ChromoGenics carried out an issue of units, consisting of shares and warrants, with preferential rights for existing shareholders. The terms of the Rights Issue meant that five (5) existing shares gave the right to subscribe for one (1) unit, consisting of seven (7) shares and two (2) warrants of series 2020/2022:1. The rights issue was fully subscribed and the number of warrants issued amounted to 2,829,336. One (1) Warrant entitles, during the period 13 – 27 September 2021 and 16 – 31 March 2022, respectively, to subscribe for one (1) new share in ChromoGenics at an exercise price corresponding to eighty (80) percent of the volume-weighted average price paid for ChromoGenics’ share of Nasdaq First North Growth Market during the periods August 26 – September 8, 2021 and February 28 – March 11, 2022, however, a minimum of SEK 8.00 and a maximum of SEK 12.00 per share. The volume-weighted average price of the Company’s share during the measurement period August 26 – September 8, 2021 was approximately SEK 7.83 and the subscription price was thus set at SEK 8.00.
On September 27, the first exercise period for the Warrants ended. A total of 61,576 Warrants were exercised, corresponding to an exercise rate of approximately 2.2 percent of all Warrants, for subscription of the same number of shares at a subscription price of SEK 8.00 per share. Through the warrants, ChromoGenics will thus receive approximately SEK 0.5 million before issue costs.
Number of shares and share capital
Through the exercise of the Warrants, the number of shares in ChromoGenics will increase by 61,576 shares, an increase from 16,976,019 shares to 17,037,595 shares. The dilution for existing shareholders who have not exercised any Warrants amounts to approximately 0.4 percent. The share capital increases by SEK 12,315.20 from SEK 3,395,203.80 to SEK 3,407,519.00.
For more information, please contact:
Fredrik Fränding, CEO
Tel: +46(0) 72 249 24 62
Lars Ericsson, CFO & Head of Communications
Tel: +46 (0)18 430 0430
This statement has been made in a Swedish and English version. In the event of any discrepancies between the Swedish and English text, the Swedish text shall prevail.
ChromoGenics is a proptech company that produces dynamic glass for real estate. The company’s product ConverLight® Dynamic, controls indoor comfort with high daylight transmission, great view and solar heat blocking and thereby reduces cost of cooling. ConverLight® Dynamic is based on a patented solution where electrochromic coatings are laminated in plastic film and then laminated between glass. The plastic film is easy to transport, so long shipments of bulky glass can be avoided. ChromoGenics also offers static glass, ConverLight® Static, and the ConverLight® Energy facade glass solution. ChromoGenics’ stock was listed on Nasdaq First North Growth Market in 2017 and has supplied glass technology to several major real estate companies.
ChromoGenics originates from world-leading research at Ångströmlaboratoriet at Uppsala University. The company’s production facility in Uppsala has been partially financed with conditional loans from Energimyndigheten (Energy Authority) in Sweden. ChromoGenics’ share (CHRO) is listed on Nasdaq First North Growth Market with Erik Penser Bank as Certified Adviser: firstname.lastname@example.org, 08-463 83 00.