Bayn Europe has ended the exercise period for Series TO4 warrants that ran between June 13, 2019 - June 18, 2019 and which were issued to all shareholders in connection with the Company's directed issue carried out in February 2019. The outcome shows that a total of 4,436,816 shares have been subscribed for at a subscription price of SEK 1.10 per share, corresponding to a subscription rate of approximately 87.78 percent. The company thus receives approximately SEK 4.9 million before issue costs.
"We are very pleased with the outcome. I would like to extend a warm thank you to all shareholders who have chosen to exercise their warrants and thus shown their long-term support for the company", says Bayn Europe's CEO Patrik Edström.
Number of shares and share capital
A total of 4,436,816 new shares were subscribed for in the now completed exercise period. The company thus receives a total of SEK 4,880,498 before issue costs, which are estimated to amount to approximately SEK 50 thousand. The subscription rate thus amounted to 87.78 percent.
Through the exercise of warrants, the total number of outstanding shares in Bayn Europe increases by 4,436,816 from 31,044,078 shares to 35,480,894 shares. The share capital thus increases by SEK 976,099 to SEK 7,805,797. Minor corrections of the above may be made in connection with the registration of the issue.
Automatic conversion of newly subscribed shares ("Interim Shares") will take place as soon as the issue has been registered with the Swedish Companies Registration Office, which is expected to take place in July 2019. Conversion takes place without further notification to the holder.
