Tellusgruppen terminates the ongoing rights offering
Published: February 20, 2024
IR - Regulatory
NOT FOR RELEASE, DISTRIBUTION, OR PUBLICATION, EITHER DIRECTLY OR INDIRECTLY, WITHIN OR TO THE UNITED STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, OR IN ANY OTHER JURISDICTION WHERE THE RELEASE, DISTRIBUTION, OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE ADDITIONAL REGISTRATION OR OTHER MEASURES.
Tellusgruppen AB (publ) (“Tellusgruppen” or “the Company”) has assessed the conditions for carrying out a rights offering, consisting of shares and Series TO2 warrants, as resolved by the Board of Directors on January 25, 2024 (“the Rights Offering”). The Board of Directors has today decided to suspend the ongoing Rights Offering due to unfavorable market conditions.
In accordance with the terms of the information memorandum published by the Company on January 26, 2024, all subscriptions received will be disregarded, and any subscription proceeds paid will be refunded.
On February 14, 2024, the Annual General Meeting approved the Board of Directors’ resolution of January 25, 2024, to carry out a private placement of 1,427,594 Series TO2 warrants to the Company, which will then transfer these to shareholders free of charge in proportion to the number of shares held as of the record date February 20, 2024 (“the TO Issuance”). The TO Issuance will be carried out as planned.
For more information
Bijan Fahimi, CEO of Tellusgruppen AB
bijan.fahimi@tellusgruppen.se
+46 707 167 453
MAR
This information is information that Tellusgruppen AB (publ) is required to disclose under the EU Market Abuse Regulation. The information was submitted for publication on February 20, 2024, at 8:30 a.m. CET, through the contact person listed above.
Certified Adviser
The company's Certified Adviser is Mangold Fondkommission AB.
About Tellusgruppen AB (publ)
Tellusgruppen is a long-term owner of well-managed companies in the education and child care sectors. The Group currently operates 28 preschools and seven elementary schools, and also provides child care and educational services.
Tellusgruppen was established in 2012 as the parent company of Tellusbarn (Tellusbarn was founded in 2007) and as a platform for future expansion in the education and child care sectors.
Tellusgruppen's Our business concept is to establish, operate, and develop profitable and growing subsidiaries that offer high-quality, innovative, and in-demand services in their respective fields.
Important Information
The information in this press release does not constitute an offer to acquire, subscribe for, or otherwise trade in shares or other securities of the Company. No steps have been taken, nor will any be taken, to permit a public offering in any jurisdictions other than Sweden. The invitation to eligible persons to subscribe for units in the Company has been made solely through the information memorandum that the Company published on January 26, 2024.
The information in this press release may not be disclosed, published, or distributed, directly or indirectly, within or to the United States, Canada, Australia, Japan, Hong Kong, Switzerland, New Zealand, Singapore, South Africa, or any other jurisdiction where such action would be unlawful, subject to legal restrictions, or require measures other than those required under Swedish law. Any action contrary to this instruction may constitute a violation of applicable securities laws.
No shares or other securities of the Company have been registered, and no shares or other securities will be registered, under the United States Securities Act of 1933, as amended (“U.S. Securities Act”) or the securities laws of any state or other jurisdiction in the United States, and may not be offered, sold, or otherwise transferred, directly or indirectly, in or into the United States, except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Nor is the offering directed at persons domiciled in Australia, Hong Kong, Japan, Canada, New Zealand, South Africa, Switzerland, Singapore, the United States, or any other jurisdiction where participation would require additional prospectuses, registration, or other measures beyond those required under Swedish law.