Today, GreenMobility A/S (“GreenMobility” or the “Company”) is present with 950 electric vehicles in eight cities across five countries. GreenMobility’s business is based on a strong operation including a lowered cost base, and GreenMobility has reached operational profitability in Copenhagen. GreenMobility’s
defined 2025 aspirations of being in 35 cities with +10,000 electric vehicles by 2025 remain unchanged. With this rights issue, GreenMobility will capitalize the Company for its growth plan with a longer financial run rate, which is expected to fund the Company into early 2023, depending on acceleration of city launches.
Highlights of Rights Issue
GreenMobility has initiated a rights issue with pre-emptive subscription rights for GreenMobility’s existing shareholders allowing for subscription of up to 1,474,025 new shares with a nominal value of DKK 0.40 each at a subscription price of DKK 100 per new share.
The offering is fully guaranteed and committed meaning that GreenMobility has received advanced pre-subscription commitments from existing shareholders that wish to exercise their pre-emptive rights, and guarantee commitments from guarantors that have guaranteed to subscribe for any remaining shares not subscribed for by exercise of pre-emptive rights which together correspond to the maximum amount of new shares expected to be issued as part of the offering, raising gross proceeds of DKK 147.4 million.
The offering is made at a subscription ratio of 2:1, meaning that each of GreenMobility’s existing shareholders (registered as a shareholder with VP Securities on 8 September 2021 at 5:59 pm CET) will be allocated one (1) pre-emptive right per existing share held, and that two (2) pre-emptive rights are required to subscribe for one (1) new share at the subscription price of DKK 100 per new share.
The offering is expected to raise gross proceeds to GreenMobility of approximately DKK 147.4 million with net proceeds expected to be approximately DKK 141.3 million after deduction of costs and expenses payable by GreenMobility in relation to the offering. GreenMobility expects to apply net proceeds from the offering for the following purposes and with the following expected distribution and priority:
|Funding of expansion to new cities||45-70 %|
|Funding of operating existing cities which are not yet profitable||15-35 %|
|Development costs including relating to headquarters||0-5 %|
|Partial payment on new EV’s (majority financed)||5-15 %|
|Other / general working capital purposes||0-5 %|
As such, the net proceeds from the Offering will primarily be used for expansion into new markets as well as funding the existing cities that are not yet profitable. Generally, GreenMobility contemplates to continuously seek growth opportunities and raise additional capital to pursue such opportunities where additional financing is needed as the GreenMobility prioritizes growth and expanding to new cities. GreenMobility expects to ensure a longer financial run rate, which is expected to fund GreenMobility into early 2023, depending on acceleration of city launches. GreenMobility will likely seek to raise further capital within a few years in order to accelerate its international expansion and growth.
Benefit for exisiting shareholders
Existing shareholders receive pre-emptive rights in a ratio of 1:1. If you have 100 shares, you get 100 preemptive rights.
DKK 100 per share
The subscription price will be DKK 100 per share. Note that you will need two pre-emptive rights to subscribe for one new share.
Deadline: 20th of September
You use your pre-emptive rights and buy new shares through your bank or where your current shares are held. They will inform you on how to do this.
Join in on one of the following webinars, to learn more about GreenMobility and the Rights Issue. You will be able to ask questions as well. Participation is naturally free – just sign up via the link on the webinar time you prefer, and all shareholders are more than welcome. The topic of all webinars will be the same.
|The timetable for main events relating to the rights issue is as follows:|
|Publication of Prospectus||3rd of September, 2021|
|Last trading day in Existing Shares including Pre-emptive Rights||6th of September, 2021 5:00 p.m. CET|
|First day of trading in Existing Shares excluding Pre-emptive Rights||7th of September, 2021|
|Rights Trading Period commences||7th of September, 2021|
|Allocation Time of Pre-emptive Rights||8th of September, 2021 at 5:59 p.m. CET|
|Subscription Period for New Shares commences||9th of September, 2021|
|Rights Trading Period closes||20th of September, 2021|
|Subscription Period for the New Shares closes||22nd of September, at 5:00 p.m. CET|
|Expected publication of result of the Offering||27th of September, 2021|
|Allocation of New Shares not subscribed for by Existing Shareholders (the Remaining Shares)||27th of September, 2021|
|Completion of the Offering, including settlement of the Remaining Shares||29th of September, 2021|
|Registration of the share capital increase regarding the New Shares with the Danish Business Authority||29th of September, 2021|
|First day of trading and official listing of the New Shares on Nasdaq Copenhagen under the ISIN code of the Existing Shares||30th of September, 2021|
Application form for Remaining Shares
Applications for subscription and purchase of remaining shares should be made to the investor’s own account holding bank either electronically through online banking or by submitting this application form.
The information contained on this website does not constitute a prospectus as defined by Regulation (EU) No. 2017/1129 of 14 June 2017 and nothing herein contains an offering of securities. No one should purchase or subscribe for any securities in GreenMobility A/S (the “Company”), except on the basis of information in the prospectus published by the Company in connection with the rights issue and admission of such securities to trading and official listing on Nasdaq Copenhagen A/S. Copies of the prospectus are available at this website of the Company.
This information contained on this website is not an offer to sell or a solicitation of any offer to buy any securities issued by the Company in any jurisdiction where such offer or sale would be unlawful and this webpage and the information contained herein are not for distribution or release, directly or indirectly, in or into such jurisdictions.
The information contained on this website regarding the rights issue is not for distribution in or into the United States of America (including its territories and possessions, any state of the United States of America and the District of Columbia) (the “United States”). The information contained on this website regarding the rights issue does not constitute, or form part of, an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. The securities of GreenMobility A/S have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make any offering of the securities in the United States.
In any member state of the European Economic Area (“EEA Member State”), other than Denmark, this the information contained on this website regarding the rights issue is only addressed to, and is only directed at, investors in that EEA Member State who fulfill the criteria for exemption from the obligation to publish a prospectus, including qualified investors, within the meaning of Regulation (EU) No. 2017/1129 of 14 June 2017.
This webpage is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) “qualified investors” (as defined in the UK Prospectus Regulation) who are (a) investment professionals falling within Article 19(5) of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (b) high net worth entities falling within Article 49(2)(a) – (d) of the Order (the persons described in (i) and (ii) above together being referred to as “relevant persons”). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged
in only with, relevant persons. Any person who is not a relevant person should not act or rely on this webpage or any of its contents. The “UK Prospectus Regulation” means Regulation (EU) 2017/1129 as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018.