Abliva AB (Nasdaq Stockholm: ABLI) (”Abliva” or the ”Company”) has today held an Extraordinary General Meeting. A summary of the resolution follows. The resolution was passed unanimously.
Approval of the Board of Directors’ resolution on a directed issue of convertibles
Today, the Extraordinary General Meeting approved the Board of Directors’ resolution from 20 December 2021 that the Company raise a convertible loan in a nominal amount not exceeding SEK 26,000,000 through a directed issue of convertible bonds (the “Convertible Bond 2021/2022”).
Entitled to subscribe for the convertible bonds in the issue shall be the major shareholders Hadean Capital I AS and HVentures Capital I AB, both funds managed by Hadean Ventures.
The convertible issue consists of 260 convertible bonds at a nominal value of SEK 100,000 per convertible bond (the “Convertibles”). The subscription price shall be equal to the nominal value of the Convertibles with a deduction of a set-up fee of 3.95 percent. The Convertibles carries an annual interest rate of 10 percent of their nominal value.
Subscription through payment for the Convertibles shall take place within fifteen (15) banking days of the date of the general meeting approving the resolution to issue the Convertibles. The Board of Directors shall be entitled to extend the subscription and the payment period.
The term of the Convertibles is 12 months with a maturity date on 20 December 2022, to the extent conversion has not taken place before such date. The conversion price will either be (i) same price as other investors in a potential capital raise conducted before 2022-05-22, or (ii) 10-day VWAP prior to conversion request date.
In case of full conversion of the Convertibles on the last day for conversion, the issue entails an increase of the share capital of not more than SEK 6,500,000 excluding conversion of accrued interest. Upon conversion of the capital amount, accrued interest will however also be converted. Provided that conversion occurs on the last day for conversion, the issue entails an increase of the share capital of not more than SEK 7,103,505.