Lots and lots of dilution at wyld2 Sep 2024 08:04
The board of directors of Wyld Networks AB (”Wyld Networks” or the “Company”) has today, subject to approval from the subsequent extraordinary general meeting, resolved to carry out a new issue of units, containing shares and warrants of series TO6, with preferential rights for existing shareholders of approximately SEK 74.2 million (the "Rights Issue"). The subscription period runs during the period from and including October 9, 2024, to and including October 23, 2024. If fully subscribed, the Rights Issue will provide the Company with approximately SEK 74.2 million before transaction costs. The Rights Issue is covered to approximately 57.7 percent by subscription commitments, bottom underwriting commitments and middle underwriting commitments. Bottom underwriting commitments may be invoked to the extent that the Rights Issue is not subscribed to 32.0 percent. Middle underwriting commitments may be invoked to the extent that the Rights Issue is not subscribed to 57.7 percent. In addition, Wyld Networks intends to secure a bridge loan of approximately SEK 5.0 million in order to finance the Company in the short term until the Rights Issue has been completed. Notice to the extraordinary general meeting will be announced through a separate press release. The Rights Issue is conditional upon an amendment to the articles of association, which is also proposed to be resolved upon at the extraordinary general meeting.