Linkfire A/S secures debt financing of DKK 37.3 million (approx. EUR 5 million) on an improved interest basis to strengthen cash preparedness
Kurs & Likviditet
Prenumeration
Beskrivning
| Land | Danmark |
|---|---|
| Lista | First North Stockholm |
| Sektor | Informationsteknik |
| Industri | Programvara |
Linkfire A/S (“Linkfire” or the "Company") announces that it has secured debt financing of DKK 37.3 million from Kuok Meng Ru, shareholder of Linkfire and Group CEO & Founder of Caldecott Music Group (“CMG”), as an expression of his commitment to and belief in the Company’s potential.
The terms of the financing agreement are similar to the terms previously announced (see the corporate announcement from 9 May 2023), whereas the financing is structured as a drawdown facility and carries a reduced annual interest rate of 17 percent compared to 18 percent previously, accruing on each draw of the facility and paid quarterly. The board assesses the interest level to reflect current market terms.
The facility has a duration of 2.5 years. It is repayable in whole or in part in the interim in case of future equity or debt raises during the term of the loan.
The loan will be deployed to repay part of Linkfire's existing loans under the previously announced credit facility, contribute to financing the Company’s operations until cash flow break-even expected in 2024, and allow Linkfire to continue various avenues in its pursuit of maximizing shareholder value. The expected net proceeds from the loan is approximately DKK 20 million and will be utilized for the Company's operations.
The debt financing is a testament to Kuok Meng Ru’s continued belief in the Company’s potential and unique market position.
Copenhagen, 22 November 2023
Board of Directors of Linkfire
For further information, please contact:
Tobias Demuth, CFO
Telephone: +45 27 84 44 68
E-mail: investors@linkfire.com