The issue of any of warrants pursuant to the Agreement after the 2020 AGM will require specific approvals by the Cyber1 shareholders in the event that mandate provided to the Cyber1 board at the AGM 2019 is not renewed or extended as detailed below. No additional consideration will be paid for the warrants and the warrants will not be listed. Each Warrant will be exercisable at any time during a period of 3 years following issue with an exercise price of €0.43. In addition to any shares LDA Capital will subscribe for under the Option, as additional consideration for LDA Capital entering into the Agreement, LDA Capital will receive 29,548,648 warrants to subscribe for one additional ordinary share each. The Company will control the timing and maximum amount of the draw down under this facility and has the right, not the obligation, to draw down up to EURO €25 million, with each placement notice being a put option (“ Option”) on LDA Capital dependent upon certain parameters such as the previous 10-day average trading volume of CYBER1 shares on Nasdaq First North Growth Market and with up to two placement notices each month during the term. Any drawdown of funds by Cyber1 following the next annual general meeting is subject to that the shareholders of Cyber1 resolves, or authorizes the board of directors to resolve, to issue new equity instruments. The Development Capital will be accessed by the Company in the form of a directed share subscription facility with an aggregate subscription price of up to EURO €25 million which allows the Company to drawdown funds during the 36-month term of the Agreement by, inter alia, issuing ordinary shares of the Company for subscription to LDA Capital. The funds, to be used specifically as support for a potential business combination between Cyber1 and a New York listed Special Purpose Acquisition Company (SPAC). Private Investment into Public Equity ( “PIPE”) investment of up to EURO €5 million:. use the funding as project / trade finance for advance funding of customer projects.provide funding for its planned acquisitions and.“ Development Capital” of up to EURO €25 million:Ĭompany will use the funds to strengthen the business and the investment will allow the Company to, inter alia:.The Commitment Amount will be divided into two main sections: The board of directors is now pleased to announce that Cyber1 has entered into a direct placement agreement (" Agreement") with LDA Capital LLC (" LDA Capital"), a Los Angeles based private alternative investment group, which has agreed to provide the Company with up to EURO €30 million (“ Commitment Amount”) in committed capital over the next 36 months. On the annual general meeting, held on 25 July 2019, the board of directors of Cyber1 was authorized to issue new equity instruments. The package which comprises of an equity backstop of up to EURO €25 million and a further up to EURO €5 million as a PIPE investment into a potential business combination with a US based SPAC. London United Kingdom – 20 December 2019 – Cyber Security 1 AB (Publ) (the “Company”) ( “CYBER1”) (Nasdaq First North: CYB1), an international leader in Cyber Security, Governance, Risk and Compliance services today announces it has successfully arranged funding of up to EURO €30 million.
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