On October 17th 2022, Kim Baden-Kristensen, CEO & Co-founder of Brain+ A/S (“Brain+) and members of the board of Brain+, Lars Terney, Vice Chairman, and Hanne Leth Hillman, Chair of the Audit Committee (collectively “the Investors”), chose to exercise all of their warrants of series TO 1 (BRAINP TO, ISIN: DK0061670551), to subscribe for newly issued shares in Brain+ A/S.
- In connection with Brain+’s IPO in October 2021, the company issued 4.8m publicly traded warrants, which can be exercised to subscribe for new shares in Brain+ A/S between October 17thand October 31st 2022, at an exercise price of DKK 1.638 per share.
- The Investors have collectively subscribed to 311.238 newly issued Brain+ shares (BRAINP, ISIN: DK0061670205) via exercise of their entire warrant holdings, at the exercise price of DKK 1.638 per share, for a total consideration of DKK 509.808.
- The collective market value of shares acquired to date by the Investors, including these newly subscribed shares, is DKK 8.5m based on the share price as of October 14th Prior to exercise of these warrants, the investors collectively held ~29% of Brain+ shares outstanding.
Lars Terney has exercised 188.548 warrants, via investment of DKK 308.842. This brings his combined shareholdings in Brain+, including beneficial ownership, to 1.055.402 shares.
Hanne Leth Hillman has exercised 69.425 warrants, via investment of DKK 113.718. This brings her combined shareholdings in Brain+, including beneficial ownership, to 87.000 shares.
Kim Baden-Kristensen has exercised 53.265 warrants, via investment of DKK 87.248. This brings his combined shareholdings in Brain+, including beneficial ownership, to 2.630.416 shares.
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