Icelandair Group hf. : Exercise of warrants ICEAIRW130821
Icelandair Group (the “Company”) has issued warrants to all investors who received shares in connection with the offering of shares of the Company which ended on September 17, 2020. The warrants consist of three distinct categories, each with a different ticker symbol and exercise period, as described in the prospectus, dated October 8, 2020 (the “Prospectus”).
The holders of warrants bearing the stock symbol ICEAIRW130821 and ISIN IS0000032266 (the “Class of warrants”) have now exercised their subscription rights.
Icelandair Group will issue, in accordance with Article 15.2 of the Articles of Association, new shares corresponding to the total of warrants exercised, in the amount of ISK 1,861,676,632 par value, thus bringing the Company’s share capital to 35,958. Face value ISK 431,755. The exercise price is ISK 1.13 per share, therefore the Company’s proceeds amount to USD 16.4 million.
The share capital increase will be registered by the Icelandic Tax and Customs Business Register and issued by the Nasdaq CSD. Delivery of the new shares as well as admission to trading on the Nasdaq Iceland regulated market is expected to take place no later than Tuesday, August 31, 2021.
Landsbankinn Corporate Finance is the Icelandair group’s advisor with respect to warrants and the issuance of new shares.
For more information concerning the warrants, reference is made to the full Prospectus and to an earlier version of the shares. July 20, 2021 exchange press release.