Re:NewCell AB’s (“Renewcell” or the “Company”) Chief Executive Officer, Patrik Lundström, has today exercised 3,494 warrants of series 2019/2023 in the Company for subscription of 227,110 new shares in the Company at a subscription price of SEK 48.43 per share. The proceeds from the exercise amounts to approximately SEK 11 million.
Due to the exercise of the warrants, the number of shares and votes in the Company will increase by 227,110, from 40,699,549 to 40,926,659, which entails a dilution of approximately 0.55 percent of the number of shares and votes in the Company. The share capital will increase by SEK 5,796.40, from SEK 1,038,751.47 to SEK 1,044,547.87.
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Founded by innovators from Stockholm’s KTH Royal Institute of Technology in 2012, Renewcell is a multi-award-winning sustaintech company based in Sweden. The company’s vision is to make fashion circular.
Through its patented process, Renewcell is able to recycle cellulosic textile waste, such as worn-out cotton clothes and production scraps, transforming it into a pristine new material called CIRCULOSE®. Fast Company named Renewcell one of the World’s Most Innovative Companies in 2021 and CIRCULOSE® was also included on TIME Magazine’s list of the 100 Best Inventions 2020.
Renewcell is a publicly listed company with shares traded on Nasdaq First North Premier Growth Market with the ticker name RENEW and ISIN code SE0014960431. FNCA Sweden AB is Certified Adviser, +46(0)8-528 00 399, email@example.com.