Company announcement no. 31-2022
Today,
Background and motive
In connection with Audientes' IPO in
It is Audientes' ambition to create strong sales growth and good profitability. To achieve this, the Company plans to continue the expansion of the distribution network in
This will be done by employing either a B2B high-touch (own representation) or low-touch (local distribution partners) market entry model, or a combination of both - tailored to local conditions. Online sales across a variety of B2C channels is a key element in the market entry strategy in all countries where Audientes may market and sell its hearing health products.
Considering the foregoing, Audientes has resolved on a pre-emptive Rights Issue of units to finance activities related to future objectives, primarily intensifying marketing and sales activities in
For complete information, please refer to the prospectus relating to the Rights Issue. The prospectus, including complete terms and conditions, a summary teaser and subscription forms are available on Audientes' site for the Rights Issue (www.rightsissue.audientes.com) and on
Timetable for the Rights Issue- Trading in unit rights:
1-13 December 2022 - Subscription period:
1-15 December 2022 - Publication of outcome of the Rights Issue: approximately
20 December 2022 - Trading in BTU: From
1 December 2022 , until the Rights Issue has been registered with the Danish Companies Registration Office. The last day of trading in BTU will be announced through a separate press release.
The Rights Issue in brief- Subscription price:
DKK 1.50 per unit, corresponding to DKK 0.75 per share. - Issue volume: The offer comprises a maximum of 9,349,010 units, consisting of 18,698,020 shares and 9,349,010 warrants of series TO 1 that are issued free of charge. Audientes' can initially be provided proceeds of approx.
DKK 14 million before deduction of transaction related costs. Through the exercise of warrants of series TO 1 in March/April 2023 , Audientes can be provided an additional maximum amount of approx. DKK 10.3 million before transaction related costs. - Pre-emptive right for subscription: For each share held on the record date of
28 November 2022 , one (1) unit right will be received. One (1) unit right entitle the holder to subscribe for one (1) unit. Each unit (1) consists of two (2) new shares and one (1) new warrant of series TO 1. - Subscription and payment: Subscription with the support of unit rights will take place during the subscription period in accordance with "Terms and conditions of the Offering" in the prospectus. Please note that unit rights that the shareholder does not intend to use must be sold no later
13 December 2022 , to not expire without value. - Number of shares before the Rights Issue: 9,349,010.
- Dilution: For existing shareholders who choose not to participate in the Rights Issue will be subject to a dilution effect of a maximum of approximately 67 percent of the votes and capital through the initial part of the Right Issue. Upon full exercise of the warrants of series TO 1, the dilution amounts to an additional approximately 25 percent of the votes and capital.
- Pre-subscription and guarantee commitments: Approx. 45.2 percent of the initial part of the Rights Issue is covered by subscription commitments and so called "top down" and "bottom up" guarantee commitments.
- Marketplace:
Spotlight Stock Market .
Summary of terms for warrants of series TO 1
The exercise price in the following warrant exercise of series TO 1 shall amount to seventy (70) percent of the average volume-weighted price for the share according to
Investor presentations
- Audientes' Rights Issue and Business Objectives,
1 December 2022 at 13:00. To register, follow this link. - Aktieportföljen Live,
6 December 2022 at 11:50. A link to the event will be available shortly on the company website here. - Unge Investorer Live on Facebook,
6 December 2022 at 16:00. To register follow this link. - Audientes' Rights Issue Explained: What to do as a Shareholder,
- Financial
Stockholm & Aktiespararna Stockholm Investerarmödet,
- Virtual Nordic Growth Days Seminar
Advisors
For more information about the Rights Issue, please contact:
Phone: +46 40 615 14 10
Email: cf@sedermera.se
www.sedermera.se
For more information about Audientes, please contact:
Phone: +45 53 17 26 10
Email: st@audientes.com
www.audientes.com
Phone: +45 77 34 16 80
Email: pab@audientes.com
About Audientes A/S
Audientes A/S is a Danish technology company specializing in smart, self-fitting and affordable hearing aids. Audientes' unique hearing aid solution, Ven(TM) by Audientes, is available for purchase in the Indian market, online and in retail, and will be introduced to the US over-the-counter market and other markets in the coming years. Companion by Audientes is an advanced hearable consumer electronic product that will be launched in
Audientes' mission is to help the approximately 500 million people globally suffering from disabling hearing loss who either cannot afford to buy one of the very expensive hearing aids on the market, or who do not currently have access to a solution to their hearing loss.
Audientes is listed on Spotlight Stock Market Denmark (AUDNTS) and headquartered in
For additional information please refer to the company's site in relation to the Rights Issue: www.rightsissue.audientes.com
https://news.cision.com/audientes/r/the-subscription-period-in-audientes-a-s-s-rights-issue-of-units-begins-today,c3675982
https://mb.cision.com/Main/21235/3675982/1709338.pdf
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