Press releases

Fragbite Group announces the outcome of warrants TO2

Regulatory16 October, 2024 at 15:08

Fragbite Group AB (publ) ("Fragbite Group" or the "Company") today announces the outcome for the exercise of warrants in series TO2 (“the Warrants”) issued in connection with the Company's rights issue of units announced on 23 May 2024. In total, 119,719,059 Warrants were exercised for subscription of the corresponding number of shares in the Company, which entails a subscription rate of approximately 32.42 percent. The Company thus receives approximately SEK 3.59 million before issue costs.

Outcome
The final outcome of TO2 was 119,719,059 Warrants that were exercised for subscription of a corresponding number of shares in the Company. The subscription rate thus amounted to approximately 32.42 percent. The subscription price per share through the exercise of a Warrant amounted to SEK 0.03. Fragbite Group will thus receive approximately SEK 3,591,572 before issue costs.

Shares and share capital
By the exercise of the Warrants, the total number of shares in Fragbite Group increases by 119,719,059 shares, to a total of 3,391,543,453 shares, which entails a dilution 3.53 percent. The share capital of the Company increases by SEK 1,995,283.19 to SEK 56,524,747.88. Exercised Warrants are replaced with interim shares until registration is finalised with the Swedish Companies Registration Office, upon which the interim shares are converted into shares. The interim shares are expected to be converted into shares on 25 October.