Nanexa: First Part of Investment Agreement Completed
Redeye Research Note
In accordance with the investment agreement announced in December, Nanexa announced yesterday that it has finalized the directed issue of USD 1 million (SEK 8.2 million) to Applied Ventures. The subscription price was set to SEK 11.99 (5% discount of the VWAP between December 22 and January 11) and 686 492 shares were issued, corresponding to a dilution of 3%. Per the terms, Nanexa also issued 3 558 278 warrants allowing Applied Ventures to invest an additional USD 2 Million during 2021. Our view is that the terms are fair and we keep our base case of SEK 12 for now.
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