On December 17, 2020, Nanexa AB (publ) ("Nanexa" or "the Company") announced that the Company has entered into an investment agreement with Applied Ventures, LLC ("Applied Ventures"), the venture capital arm of Applied Materials, Inc., through which Applied Ventures intends to invest up to USD 3 million in Nanexa during 2021 to support Nanexa’s continued development and expansion. On January 12, 2021 Nanexa issued 686,492 shares, corresponding to an investment amount of USD 1m, and 3,558,278 warrants of the 2020/2021 series (the “Warrants”) to Applied Ventures. The Warrants carry the right, but not the obligation, for Applied Ventures to subscribe for up to 3,558,278 shares in Nanexa during two exercise periods, April 1-15, 2021 and December 1-15, 2021. Applied Ventures decides the number of Warrants to be exercised during each subscription period. The subscription price shall be equal to volume-weighted average price during the ten trading days immediately before the respective subscription period, less ten percent. In the first subscription period under the investment agreement, April 1-15, 2021, Applied Ventures has subscribed to 480,879 shares at SEK 8,95 per share, equaling SEK 4.3 million or around USD 0.5 million.
The volume-weighted average price for the first exercise period, April 1-15, 2021, amounts to SEK 9.94 and has been measured on the basis of Nanexa’s share price on Nasdaq First North Growth Market over the period March 18-31, 2021. The subscription price for the Warrants during the first exercise period amounts to SEK 8.95 per share. For the first exercise period, Applied Ventures has exercised 480,879 Warrants corresponding to an investment amount of SEK 4.3 million or around USD 0.5 million.
“We highly value our collaboration with Applied Materials and the continued support of Applied Ventures through this second investment,” says David Westberg, CEO of Nanexa.
Following the exercise of the Warrants, the share capital will increase by SEK 62,236.01 from SEK 3,218,312.36 to SEK 3,280,548.37. The number of outstanding shares in Nanexa will increase by 480,879 from 24,866,934 to 25,347,813. The dilution amounts to approximately 1.9 percent.
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