Hexicon AB (publ) (the "Company") today initiated the process for an early repayment of the SEK 82,500,000 convertible loans of series 2022:1 and 2022:2, respectively, issued by the Company (the "Convertible Loans"). The payment will take place on 25 August 2023.
Today, the Company has sent an unconditional notice for early repayment to each convertible holder recorded in the Company’s central securities depository register on 25 July 2023. The notice has also been published on the Company’s website.
Pursuant to the terms of the Convertible Loans, the Company may carry out an early repayment of the loans, plus a premium of two (2.00) per cent of the nominal convertible loan amount (the “Premium”), and accrued interest, each ninetieth day after 28 November 2022 (T), being the nearest banking day after T+90, T+180 and T+270. The Convertible Loans will be repaid in full, together with the Premium and accrued interest (the “Early Repayment”), at the next possible occasion in accordance with the terms of the Convertible Bonds, which is 25 August 2023 (T+270) (the "Early Repayment Date"). The Early Repayment will be disbursed by Euroclear to any party who, on the record date for payment is recorded as a convertible holder or is otherwise entitled to receive interest and loan amounts in the Company’s central securities depository register. The record date for payment is 18 August 2023, i.e. five (5) business days prior to the Early Repayment Date.
As stated in the terms of the Convertible Loans, the convertible holder has a right to choose shares in the Company instead of cash in case the Company has given notice of an early repayment. Upon choosing shares, the convertible holder shall inform the Company of such choice no later than 10 banking days before the date of the early repayment (i.e. 11 August 2023).