SWVL sells shares for total value of $20 million in a private placement deal

SWVL sells shares for total value of $20 million in a private placement deal

Swvl Holdings, provider of transformative tech-enabled mass transit solutions, announced that it has entered into a definitive agreement with a single U.S. institutional investor for the purchase and sale of 12.1 million of its shares for almost $20 million.

The agreement entails ordinary shares together with series A warrants and series B for $1.65 per share according to their press release.

“If, during their terms, all the warrants are exercised for cash, Swvl will receive an additional $30 million in gross proceeds based on the exercise price of $1.65 per share,” the statement also said.

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