On December 29, 2017, Saniona AB entered into a convertible notes funding agreement with Nice & Green S.A. Under the terms of the agreement, Nice & Green has committed to subscribe up to SEK 72 million in convertible notes in individual tranches of SEK 6 million each over a 12-month period subject to prolongation by Saniona. The convertible notes may be converted into shares at an 8% discount to the lowest daily volume-weighted average share price (VWAP) of the five trading days prior to the date on which Nice & Green has sent a conversion notice to Saniona. Further, Nice & Green will receive a commitment fee for each tranche paid to Saniona whereas Saniona will receive a percentage of the net capital gain made by Nice & Green related to their investment. Saniona has the right to extend the convertible notes funding agreement with Nice & Green for an additional SEK 72 million with the same terms, totaling SEK 144 million.
The number of received tranches, the amount converted, and the number of shares converted and issued under the agreement are set-out below.
|
Date |
Tranche No. |
Amount received |
Amount converted |
Number of shares per conversion |
Conversion price |
Convertibles outstanding |
Number of shares to be issued |
Number of shares issued |
|
20180115 |
1 |
6,000,000 |
- | - | - |
6,000,000 |
- | |
|
20180122 |
1,000,000 |
32,735 |
30.55 |
5,000,000 |
32,735 |
|
||
|
20180131 |
2,000,000 |
66,374 |
30.13 |
3,000,000 |
99,109 |
|
||
|
20180208 |
2,500,000 |
96,600 |
25.88 |
500,000 |
195,709 |
|
||
|
20180213 |
2 |
6,000,000 |
- | - | - |
6,500,000 |
195,709 |
|
|
20180313 |
2,500,000 |
99,106 |
25.23 |
4,000,000 |
294,815 |
|
||
|
20180315 |
3 |
6,000,000 |
- |
- |
- |
10,000,000 |
294,815 |
|
|
20180327 |
- |
- |
- |
10,000,000 |
- |
294,815 |
||
|
20180416 |
4 |
6,000,000 |
- |
- |
- |
16,000,000 |
- |
|
|
20180416 |
2,500,000 |
105,106 |
23.79 |
13,500,000 |
105,106 |
|
||
|
20180502 |
2,500,000 |
108,348 |
23.07 |
11,000,000 |
213,454 |
|
||
|
20180523 |
5 |
6,000,000 |
- |
- |
- |
17,000,000 |
213,454 |
|
|
20180601 |
|
|
2,000,000 |
74,393 |
26.88 |
15,000,000 |
287,847 |
|
|
20180611 |
|
|
3,000,000 |
101,165 |
29.65 |
12,000,000 |
389,012 |
|
|
20180629 |
|
|
- |
- |
- |
12,000,000 |
- |
389,012 |
|
20180712 |
|
|
2,000,000 |
69,808 |
28.65 |
10,000,000 |
69,808 |
|
|
20180727 |
|
|
2,000,000 |
69,622 |
28.73 |
8,000,000 |
139,430 |
|
|
20180823 |
|
|
1,500,000 |
54,555 |
27.50 |
6,500,000 |
193,985 |
|
|
20180824 |
|
|
1,500,000 |
54,555 |
27.50 |
5,000,000 |
248,540 |
|
|
20180828 |
|
|
1,500,000 |
54,555 |
27.50 |
3,500,000 |
303,095 |
|
|
20180911 |
|
|
1,500,000 |
51,163 |
29.32 |
2,000,000 |
354,258 |
|
|
20180912 |
|
|
1,000,000 |
34,070 |
29.35 |
1,000,000 |
388,328 |
|
|
20180928 |
|
|
|
|
|
1,000,000 |
- |
388,328 |
|
20181011 |
|
|
1,000,000 |
36,737 |
27.22 |
- |
36,737 |
|
|
20181022 |
6 |
6,000,000 |
|
|
|
6,000,000 |
36,737 |
|
|
20181024 |
|
|
1,000,000 |
36,276 |
27.57 |
5,000,000 |
73,013 |
|
|
20181106 |
|
|
2,000,000 |
74,711 |
26.77 |
3,000,000 |
147,724 |
|
|
20181114 |
|
|
2,000,000 |
72,336 |
27.65 |
1,000,000 |
220,060 |
|
|
20181127 |
7 |
6,000,000 |
|
|
|
7,000,000 |
220,060 |
|
|
20181128 |
|
|
2,000,000 |
75,656 |
26.44 |
5,000,000 |
295,716 |
|
|
20181210 |
|
|
2,500,000 |
96,916 |
25.80 |
2,500,000 |
392,632 |
|
|
20181217 |
|
|
2,500,000 |
97,106 |
25.75 |
- |
489,738 |
|
|
20181228 |
8 |
6,000,000 |
|
|
|
6,000,000 |
- |
489,738 |
|
20190104 |
|
|
2,000,000 |
69,184 |
28.91 |
4,000,000 |
69,184 |
|
|
20190107 |
|
|
2,000,000 |
69,184 |
28.91 |
2,000,000 |
138,368 |
|
|
20190109 |
|
|
2,000,000 |
69,184 |
28.91 |
- |
207,552 |
|
|
20190131 |
9 |
6,000,000 |
|
|
|
6,000,000 |
207,552 |
|
|
20190211 |
|
|
1,000,000 |
36,432 |
27.45 |
5,000,000 |
243,984 |
|
|
20190218 |
|
|
2,000,000 |
73,820 |
27.09 |
3,000,000 |
317,804 |
|
|
20190222 |
|
|
1,000,000 |
38,713 |
25.83 |
2,000,000 |
356,517 |
|
|
20190227 |
|
|
1,000,000 |
39,957 |
25.03 |
1,000,000 |
396,474 |
|
|
20190228 |
10 |
6,000,000 |
|
|
|
7,000,000 |
396,474 |
|
|
20190304 |
|
|
2,000,000 |
79,914 |
25.03 |
5,000,000 |
476,388 |
|
|
20190313 |
|
|
3,000,000 |
121,679 |
24.66 |
2,000,000 |
598,067 |
|
|
20190322 |
11 |
6,000,000 |
|
|
|
8,000,000 |
598,067 |
|
|
20190329 |
|
|
|
|
|
8,000,000 |
- |
598,067 |
|
20190404 |
|
|
1,000,000 |
39,706 |
25.19 |
7,000,000 |
39,706 |
|
|
20190411 |
|
|
1,000,000 |
41,054 |
24.36 |
6,000,000 |
80,760 |
|
|
20190412 |
12 |
6,000,000 |
|
|
|
12,000,000 |
80,760 |
|
|
20190417 |
|
|
1,000,000 |
41,381 |
24.17 |
11,000,000 |
122,141 |
|
|
Total/Average |
72,000,000 |
61,000,000 |
2,282,101 |
26.73 |
11,000,000 |
122,141 |
2,159,960 |