Terranet’s Board of Directors have decided to carry out a directed issue of units to underwriters in connection with the completed rights issue - Seite 2

The reason for the deviation from the shareholders' preferential right in the Compensation Issue is to fulfill the Company's contractual obligation towards the underwriters. The board believes that it is beneficial for the Company's financial position to take advantage of the opportunity to pay the underwriting compensation in the form of units instead of a cash payment.

Through the Compensation Issue, the number of shares in the Company increase by 11,364,435 B-shares, from 628,021,425 shares (consisting of 1,084,463 A-shares and 626,936,962 B-shares after registration of the Rights Issue) to 639,385,860 shares and the share capital increase by SEK 113,644.35, from SEK 6,280,214.25 to SEK 6,393,858.60. If all warrants of series TO6 in the Compensation Issue are fully exercised for subscription of new shares in the Company, the number of shares in the Company will increase with an additional 6,818,661 B-shares, from 639,385,860 shares (1,084,463 A-shares and 638,301,397 B-shares) to 646,204,521 shares, and the share capital will increase with an additional SEK 68,186.61, from SEK 6,393,858.60 to SEK 6,462,045.21. If all warrants of series TO7 in the Compensation Issue are fully exercised for subscription of new shares in the Company, the number of shares in the Company will increase with an additional 6,818,661 B-shares, from 646,204,521 shares (1,084,463 A-shares and 645,120,058 B-shares) to 653,023,182 shares, and the share capital will increase with an additional SEK 68,186.61, from SEK 6,462,045.21 to SEK 6,530,231.82.

Advisers
Mangold Fondkommission AB is the financial advisor to Terranet in connection with the Rights Issue and the Compensation Issue. Eversheds Sutherland Advokatbyrå AB is the legal advisor to the Company in connection with the Rights Issue.

For more information, please contact:
Magnus Andersson, CEO
Email: [e-mail]

About Terranet AB

Terranet is on a mission to save lives in urban traffic. 

We develop breakthrough tech solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV) that protect vulnerable road users. 

With a unique patented vision technology, Terranet’s anti-collision system BlincVision laser scans and detects road objects up to ten times faster and with higher accuracy than any other ADAS technology available today. 

Terranet is based in Lund, Sweden, and in the heart of the European automotive industry in Stuttgart, Germany. The company is listed on Nasdaq First North Premier Growth Market since 2017(Nasdaq: TERRNT-B).