Terranet Launches Information Memorandum for Rights Issue
Terranet AB, a forward-thinking company committed to revolutionizing urban traffic safety, has recently prepared an Information Memorandum concerning its substantial rights issue designed for current shareholders. With this issue, approved by the Board of Directors, the goal is to raise essential funds to fuel the company's innovative projects.
Details of the Rights Issue
This rights issue will allow existing shareholders to exercise their preferential rights, enabling them to maintain their ownership stakes in the company as new shares will be issued. The decision made on this initiative was confirmed at the Annual General Meeting, marking a significant step for Terranet. The company expects to attract approximately SEK 15 million prior to costs associated with the issue.
Timetable for Shareholders
The company has laid out a preliminary timetable that encompasses important dates for shareholders. Trading with unit rights will commence soon, followed by a subscription period. This schedule provides a streamlined process, ensuring that shareholders can effectively participate in the rights issue.
Key Dates Include:
- **May 27 - June 5**: Beginning of trading with unit rights.
- **May 27 - June 11**: Active subscription period where shareholders can exercise their rights.
- **May 27 - June 30**: Trading will continue with paid subscribed units.
- **June 13**: Anticipated date for the announcement detailing the outcome of the rights issue.
The Role of Advisers
In navigating this important milestone, Terranet has enlisted the expertise of Mangold Fondkommission AB as their financial adviser. Additionally, Eversheds Sutherland Advokatbyrå AB will provide legal guidance throughout this process. Their involvement assures that Terranet is well-equipped to manage this rights issue with diligence and professionalism.
Contact for More Information
For any inquiries or additional details, interested parties can reach out to Lars Lindell, CEO of Terranet. He is dedicated to ensuring that both current and prospective shareholders have the information they need to participate fully in this exciting opportunity. They can connect with him via email: lars.lindell@terranet.se.
Innovations by Terranet
Terranet is not just focused on raising funds; the company is guided by a mission to enhance urban traffic safety through forward-thinking technologies. Their flagship product, a robust anti-collision system known as BlincVision, utilizes advanced laser scanning technology to detect road obstacles significantly faster than existing systems. This innovation could potentially transform driving safety for all urban commuters.
Company Background
Established with a vision to save lives, Terranet has been operational since 2017 and is listed on the Nasdaq First North Premier Growth Market under the ticker Stockholm:TERRNT B. The company prides itself on its cutting-edge advancements in Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV), operating out of offices in key locations including Lund, Gothenburg, and Stuttgart.
Frequently Asked Questions
What is the purpose of the rights issue?
The rights issue aims to raise capital to support Terranet's growth and innovation in advanced traffic safety technologies.
When will the subscription period start?
The subscription period is set to run from May 27 to June 11, which allows shareholders time to participate in the rights issue.
Who are the financial advisers for this rights issue?
Mangold Fondkommission AB serves as the financial adviser, while Eversheds Sutherland Advokatbyrå AB provides legal counsel for the rights issue.
How can I contact the company for more information?
Shareholders can contact Lars Lindell, the CEO, via email at lars.lindell@terranet.se for any inquiries related to the rights issue.
What technologies is Terranet known for?
Terranet is recognized for its innovations in Advanced Driver Assistance Systems and its BlincVision anti-collision system, which enhances urban traffic safety.