- Swvl ( NASDAQ: SWVL ) entered into a definitive agreement with a single U.S. institutional investor for the purchase and sale of 12.1M of its shares together with series A warrants and series B warrants at a combined purchase price of $1.65/share leading to total gross proceeds of ~$20M.
- The series A warrants may purchase up to 12.1M shares and series B warrants may purchase up to 6.07M shares; series A warrants and series B warrants will each have an exercise price of $1.65/share and will be exercisable immediately on issuance and will expire five and two years from issuance date respectively.
- If all warrants have been exercised, the company will receive an additional $30M in gross proceeds.
- Private placement is expected to occur on or about Aug.12.
For further details see:
Swvl to raise $20M in stock and warrants offering