The exercise period for Crunchfish’s warrants series TO 10 commences tomorrow
Crunchfish AB (“Crunchfish” or the “Company”) conducted a unit issue of shares and warrants series TO 10 and TO 11 in November 2024. The exercise period for the issued warrants series TO 10 commences tomorrow, February 14, 2025, and runs up to and including February 28, 2025. One (1) warrant series TO 10 entitles the holder to subscribe for one (1) new share in Crunchfish. The subscription price per share that is subscribed for through exercising the warrants series TO 10 has, in accordance with the terms and conditions for the warrants, been set to SEK 0.58. If all warrants series TO 10 are exercised, Crunchfish will receive a maximum of approximately SEK 5.2 million before issuing costs.
Summary of instructions and important dates
Holders of warrants series TO 10 who wish to exercise these for subscription of shares shall give notice regarding such exercise well before February 28, 2025. Warrants that have not been exercised on or before February 28, 2025, expire without value. Holders who do not wish to exercise their warrants may sell them. Trading with warrants series TO 10 is ongoing up to and including February 26, 2025.
An information folder is available on the Company’s, Nordic Issuing’s and Västra Hamnen Corporate Finance’s respective websites (https://www.crunchfish.com/investors/equity-raises/, http://www.nordic-issuing.se, http://www.vhcorp.se).
Detailed information and instructions for subscription
Exercise price etc.
One (1) warrant series TO 10 entitles the holder to subscribe for one (1) new share in Crunchfish. The subscription price per share that is subscribed for through exercising the warrants has, in accordance with the terms and conditions for the warrants, been set to SEK 0.58. The subscription price has been defined as 70 percent of the volume-weighted average price for the Company’s share during the period January 28 – February 10, 2025.
Exercise of nominee-registered warrants
Holders of warrants series TO 10 who have their holdings nominee-registered (holdings in securities custody services, investment savings accounts (ISK) or endowment insurances) must notify the exercise of warrants by contacting their respective nominee and follow the nominee’s instructions regarding subscription and payment. This should take place well before February 28th, 2025, as different nominees have different processing times.
Exercise of directly registered warrants
Holders of warrants series TO 10 who have their holdings directly registered (holdings on a VP account) must notify the exercise of warrants by completing and submitting an application form for the exercise, so that the application form is received by the issuing agent, Nordic Issuing AB, no later than February 28, 2025. The application form is available on the Company’s, Nordic Issuing’s and Västra Hamnen Corporate Finance’s respective websites (https://www.crunchfish.com/investors/equity-raises/, http://www.nordic-issuing.se, http://www.vhcorp.se). Please note that payment for the new shares must be received by Nordic Issuing no later than February 28, 2025, in accordance with the instructions on the application form.
Trading in warrants series TO 10
Holders who do not wish to exercise their warrants series TO 10 may sell them on Nasdaq First North Growth Market. The warrants series TO 10 are traded up to and including February 26, 2025, under the short name CFISH TO10 with ISIN code SE0023114665. Warrants series TO 10 that are not exercised on February 28, 2025, at the latest, or sold on February 26, 2025, at the latest, will expire without value.
Outcome and delivery of new shares
The outcome of the exercise of warrants series TO 10 will be published via a press release on or around March 4, 2025. Shares that have been subscribed and paid for may be registered on the subscriber’s securities depository as interim shares (IA) until registration of the issue has been completed with the Swedish Companies Registration Office, whereupon the interim shares automatically will be converted into ordinary shares in Crunchfish.
Number of warrants, possible proceeds and dilution
The number of warrants series TO 10 amounts to 8,931,034. Upon full exercise of all warrants series TO 10, Crunchfish will receive approximately SEK 5.2 million before issuing costs. Upon full exercise of all warrants series TO 10, the number of shares in Crunchfish will increase with 8,931,034 shares, from 57,508,974 shares to 66,440,008 shares and the share capital will increase with SEK 410,827.564, from SEK 2,645,412.804 to SEK 3,056,240.368. This entails a dilution of approximately 13.4 percent based on the number of shares in Crunchfish after full exercise of all warrants series TO 10.
Financial advisor, issuing agent and legal advisor
Västra Hamnen Corporate Finance AB is financial advisor and Nordic Issuing AB act as issuing agent to Crunchfish in connection with the exercise of warrants series TO 10. Setterwalls Advokatbyrå AB is legal advisor.
IMPORTANT INFORMATION
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, warrants or other securities in Crunchfish. An offer to concerned persons to subscribe for units consisting of shares and warrants series TO 10 and TO 11 in Crunchfish has only been made through the EU growth prospectus that Crunchfish published on November 1, 2024.
For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
joachim.samuelsson@crunchfish.com
The information was submitted for publication, through the agency of the contact person set out above, at 12:00 CET on February 13th, 2025.
About Crunchfish – crunchfish.com
Crunchfish is a deep tech company developing a device-agnostic generic trusted client application platform for offline payments, tokenized card payments as well as other mobile client / server systems. Crunchfish has been listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.
Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.
