Bifogade filer
Lumito refinances loan of SEK 12.5 million
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Nordic SME Sweden |
| Sektor | HÀlsovÄrd |
| Industri | Medicinteknik |
The board of directors of Lumito AB ("Lumito" or the "Company") has decided to refinance parts of existing loan of SEK 20 million excluding interest from Fenja Capital II A/S (the âExisting Loanâ) through a new loan of SEK 12.5 million (the âLoanâ) from Fenja Capital II A/S (formerly Formue Nord Fokus A/S, the âLenderâ). Thus, Lumito repays SEK 7.5 million of the Existing Loan excluding interest to the Lender and refinances the remainder of SEK 12.5 million. Together with the Loan the board of directors have decided to issue warrants of series 2024/2029 (the âWarrantsâ) to the Lender free of charge as a part of the agreement. The Loan is procured with the aim of accelerating the commercialization of the Company's product portfolio.
In order to accelerate the commercialization of Lumito's product SCIZYS with associated reagent fluids, the Company intends to strengthen its financial resources through the Loan. The Loan is intended to refinance parts of the Existing Loan procured during the fourth quarter of 2023 with a maturity date of December 9, 2024. Lumito will repay SEK 7.5 million of the Existing Loan excluding interest to the Lender and refinance the remainder of SEK 12.5 million.
Summary of the Loan and the Warrarnts
- The Loan amounts to a total of SEK 12.5 million with a maturity of 12 months from November 30, 2024.
- At the inception of the Loan, 21,500,000 warrants are also issued to the Lender free of charge. The Warrants can be exercised for subscription of the corresponding number of shares in the Company from the date of registration of the Warrants with the Swedish Companies Registration Office up to and including November 30, 2029, at a subscription price of SEK 0.638 per share.
- The loan has a set-up fee of 4 percent and carries an interest rate of 1.25 percent per each commenced 30-day period.
- The Company has the option to repay the Loan at any time during the term.
- Upon full exercise of the Warrants during or after the term of the Loan, the number of shares and the share capital will increase, resulting in a dilution of approximately 7.48 percent for existing shareholders.
Terms of the Loan and the Warrants
The Loan of SEK 12.5 million has been procured from Fenja Capital II A/S, with a maturity of 12 months from November 30, 2024. In connection with the Loan, 21,500,000 warrants will also be issued to the Lenders free of charge. The Warrants are not intended to be admitted to trading on NGM Nordic SME after final registration with the Swedish Companies Registration Office. The Warrants can be exercised for subscription of the corresponding number of shares in the Company from the date of registration of the Warrants with the Swedish Companies Registration Office up to and including November 30, 2029, at a subscription price of SEK 0.638 per share, which corresponds to 140 percent of Lumitoâs share price at close on November 27, 2024. The board of directors has decided to issue the Warrants based on the authorization of the annual general meeting from 7 May 2024.
The Loan has a set-up fee of 4 percent of the total loan amount and carries an interest rate of 1.25 percent per each commenced 30-day period. The Company has the option to repay the Loan at any time during the term.
If all warrants are exercised, the number of shares in the Company will increase by 21,500,000 and the share capital by SEK 537,500.00, which corresponds to a dilution of approximately 7.48 percent.
Advisers
Mangold Fondkommission AB is financial adviser and Advokatfirman Lindahl KB is legal advisor Lumito in connection with the Loan and the Warrants.