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23rd of September 2021

Azelio raises SEK 16 million through warrant exercise

Holders of warrants in Azelio’s warrant program TO 27 have exercised their warrants, whereby 448,000 shares will be issued raising just over SEK 16 million to the company.

Holders of warrants in the warrant program TO 27, including the company’s principal owner Kent Janér via Blue Marlin, exercise their warrants in accordance with the terms of the agreement. Ahead of the exercise, Kent Janér has acquired warrants from other holders to enable their exercise.

The warrant program was introduced in 2019 and gives its holders the right to subscribe for 1.12 new shares for each warrant at a subscription price of SEK 35.80 per share. The program expires on September 30, 2021.

Exercise results in an increase in Azelio’s share capital by SEK 224,000 from SEK 57,714,592.17 to SEK 57,938,592.17 and the number of shares in the company by SEK 448,000, from 115,429,181 to 115,877,181 shares.

For further information, contact
Jonas Eklind – CEO
Email: jonas.eklind@azelio.com
Tel: +46 709 40 35 80            

About Azelio
Azelio specializes in energy storage with electricity and heat production. The technology is revolutionary in that the energy becomes dispatchable, making renewable energy available around the clock. The energy is stored in recycled aluminium from which it is converted into electricity and heat with a total efficiency of up to 90 percent. The solution is scalable, sustainable, and cost-efficient from 0.1 MW up to 100 MW. Azelio has approx. 170 employees with headquarters in Gothenburg, production in Uddevalla (Sweden) and development centers in Gothenburg and Åmål (Sweden), as well as presence in Stockholm, Beijing, Madrid and Ouarzazate (Morocco). Azelio is listed on Nasdaq Stockholm First North Growth Market with FNCA Sweden AB as Certified Adviser: +46(0)8-528 00 399, info@fnca.se. More about Azelio: www.azelio.com