Scandinavian Enviro Systems has tapped its financing agreement with Alumni Capital Limited once again, pulling down roughly SEK 2.5 million through a fresh directed share issue. The move signals continued reliance on the equity-based facility established earlier this year.
The Gothenburg-based tire recycling technology firm will issue 22,222,222 new shares at SEK 0.11439 apiece. That price reflects 90 percent of the lowest daily volume-weighted average recorded across the five trading days before the drawdown closed.
Alongside the share placement, Enviro has also issued 1,769,887 warrants to Alumni Capital at no cost. Each warrant carries the right to purchase one new share at SEK 0.22, exercisable until 22 May 2030.
The parties renegotiated terms on 26 August 2026, raising the commitment ceiling by SEK 30 million. That amendment included a technical recalculation affecting how many warrants accompany each drawdown. As a result, the warrant-to-capital ratio climbed relative to amounts drawn, though the overall cap of 80 million warrants remains untouched. The revised maximum per drawdown now stands at 3,829,419 warrants.
Consequently, Enviro’s total share count expands from 1,203,830,893 to 1,226,053,115. Existing shareholders face dilution of roughly 1.81 percent. Full exercise of the newly issued warrants would add another 0.14 percent dilution.
The board justified bypassing shareholders’ preferential rights by citing speed and cost efficiency. A traditional rights issue would have demanded more time, underwriting commitments from a guarantee consortium, and likely a steeper discount on the subscription price. Given the modest capital amount, the board determined the directed issue served shareholder interests better.
The new shares will list on Nasdaq First North Growth Market once registered with Swedish authorities. The warrants, however, will not trade on any marketplace.
Fredrik Aaben, Enviro’s CEO, can provide additional details. The company’s patented process recovers carbon black and other materials from scrap tires, cutting carbon dioxide emissions by up to 93 percent compared to virgin production methods.
