Bifogade filer
Quant AB (publ) announces updated timeline for implementation of the Recapitalisation Transaction
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 release on 5 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 the substantial progress already made on the Recapitalisation Transaction, including the issuance of the initial senior secured bonds with ISIN SE0023314299 on 6 December 2024, certain technical difficulties relating to the structuring have arisen which necessitate an update of the timeline for finally implementing the Recapitalisation Transaction.
The Company is working with its advisers to confirm 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.
In the meantime the Company is in ongoing and constructive discussions with Nordea Bank Abp, filial i Sverige (“Nordea”) and is working together with Nordea and its advisers to further extend the maturity of the existing super senior revolving credit facility in the coming days.