NOT TO BROADCAST, PUBLISH OR DISTRIBUTE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR IN ANY OTHER JURISDICTION WHERE SUCH BROADCASTING, PUBLICATION OR DISTRIBUTION WOULD BE ILLEGAL OR WILL REQUIRE REGISTRATION OR OTHER ACTION. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.
The Board of Directors of Hoylu AB (public) (“Hoylu” or the “Company”) has, with the support of the authorization given by the annual general meeting of May 21, 2021, performed a directed issue of convertible debt notes equal to a value of SEK 15 million.
The convertible bonds were subscribed by Fougner Invest AS, Trellevika Invest AS, Fredrik Fougner, Alden AS, TTC Invest AS, Bimo Kapital AS, Helling Invest AS, Torsen Tankers & Towers AS, Camelback Holding AS, Camelback Eiendom AS, Nucleus Life AG , OneTwo3 AS, Norse Partners AS, Norse AS, Erling Johnsen A/S, Frenisa AS and KES AS (the “Investors”). The reasons for the deviation from the pre-emption rights of shareholders are to raise capital in an efficient manner in terms of costs and time, on terms that are advantageous to the Company and its shareholders. Proceeds from the directed offering will be used to increase the Company’s working capital to enable continued operations and growth. The issue directed to Investors was carried out with the support of the authorization granted at the annual general meeting of May 21, 2021.
The convertible debt notes mature on January 31, 2023 and bear an annual interest rate of six (6) percent. The conversion price of the new shares is set at SEK 1.50 and the holder of the convertible instrument has the right to request the conversion of all or part of his debt into new shares of the Company from the date of registration. of the issue and until until January 31, 2023.
Share the capital, actions and dilution
Upon full conversion of the convertible bonds under the investor-directed issue (excluding accrued interest), the share capital will increase by approximately SEK 824,403.39 through the issuance of 10,000,160 new shares. The dilution for existing shareholders amounts to a maximum of approximately 9.8 percent.
For more information, please contact:
Truls Baklid, CEO Hoylu AB
Tel: +47 924 38 900
Email: [email protected]
Mangold Fondkommission AB
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For more information: www.hoylu.com
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This information is information that Hoylu AB is required to make public in accordance with the EU Market Abuse Regulation. The information has been submitted for publication, through the contact persons listed above, to 23:30 CET on January 24, 2022.
The publication, announcement or distribution of this press release may, in certain jurisdictions, be restricted by law and persons in such jurisdictions in which this press release has been announced or distributed should inform and respect these legal restrictions. This press release does not constitute an offer or a solicitation of any offer to buy or subscribe for securities of Hoylu in any jurisdiction.
This press release does not constitute or form part of an offer or solicitation to buy or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended. The information contained in this press release may not be announced, published or distributed in the United States, Canada, Australia, South Africa, Japan, Hong Kong, Switzerland, Singapore, New Zealand or in any other jurisdiction where the announcement, publication or distribution of the information would not comply with applicable laws and regulations.
This press release is not a prospectus. Hoylu has not authorized any public offering of shares or rights in any EEA Member State and no prospectus has been prepared or will be prepared in connection with the directed issue of new shares.