Bifogade filer
Quant AB (publ) announces extension of lock-up agreement
Prenumeration
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933) OR IN OR INTO ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW
As the Company previously announced by way of press releases on 5 December 2024 and 11 December 2024, the Company has achieved the necessary majority consents from holders of its outstanding senior secured floating rate bonds due 2025 with ISIN SE0010663260 (the “Existing Bonds”) for proceeding with the implementation of the recapitalisation transaction (the “Recapitalisation Transaction”) that was proposed and described in the written procedure initiated on 14 November 2024. Despite achieving the necessary majority consents and the progress already made, it has been necessary to update the timeline for finally implementing the Recapitalisation Transaction due to technical difficulties relating to the structuring.
To facilitate the continued implementation of the Recapitalisation Transaction, the Company has entered into an amendment agreement concerning the lock-up agreement (the “Lock-Up Agreement”) with its owners and holders of Existing Bonds representing more than 70 per cent. of the outstanding amount. Under the amended Lock-Up Agreement, the parties have agreed to extend the implementation period for the Recapitalisation Transaction to on or before 10 February 2025. Additionally, the following actions have been completed to further facilitate the implementation:
(i) the maturity date of the existing super senior revolving credit facility with Nordea Bank Abp, filial i Sverige has been extended to 31 January 2025; and
(ii) the long-stop date under the escrow pledge agreement for the Company’s senior secured notes (ISIN: SE0023314299) (the “SSNs”) has been extended by Nordic Trustee to 10 February 2025 in accordance with instructions received from 100 per cent. of the holders of the SSNs.
The Company continues to work with its advisors on the necessary revisions to the structure of the Recapitalisation Transaction and will provide a further update on relevant changes and dates (including any changes to the record date for holders of the Existing Bonds to be eligible to participate in the Recapitalisation Transaction) as soon as possible to ensure that its shareholders and relevant stakeholders are informed.