ADS-TEC Energy filed an amended report to explain changes to investor warrants issued alongside its previously disclosed financing. Under a May 1, 2025 Securities Purchase Agreement, the company issued senior secured convertible notes with an aggregate original principal amount of $53,763,441 and warrants to purchase up to 1,116,072 Ordinary Shares, all under an effective shelf registration.
As required by the warrant terms, the company adjusted the exercise price on the Adjustment Date calculation. The exercise price was reduced from $16.88 per share to $10.31 per share, reflecting the defined market price trigger. At the same time, the number of Ordinary Shares underlying the warrants increased by 711,212, from 1,116,072 to 1,827,284 Ordinary Shares. The report also incorporates this information by reference into several existing registration statements.
ADS-TEC Energy PLC reports an automatic adjustment to the exercise price of certain previously issued warrants tied to its May 1, 2025 financing. Under a Securities Purchase Agreement with institutional investors, the company issued senior secured convertible notes with an aggregate original principal amount of $53,763,441 and warrants to purchase up to 1,116,072 ordinary shares, all under its effective Form F-3 shelf registration.
The warrant terms provide that, on the seventy-fifth trading day after May 1, 2025, the exercise price is reset if it is higher than 95% of the lowest volume-weighted average price over a specified 10-trading-day period. Based on this formula, ADS-TEC Energy notified warrant holders on August 20, 2025 that the exercise price was reduced from $16.88 per share to $10.31 per share.