Quant announces completion of the Recapitalization Transaction
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Quant AB (publ) (the “Company”) is pleased to announce that it has today successfully completed a transformative recapitalization transaction that extends its debt maturities, reduces leverage and enhances its liquidity position.
As announced on 5 December 2024, the Company’s creditors approved a proposed recapitalization transaction (the “Recapitalization Transaction”) in respect of its debt capital structure, including an exchange of its senior secured floating rate bonds due 2025 with ISIN SE0010663260 (the “Original Bonds”).
The Company confirms that on the date hereof it has successfully completed the Recapitalization Transaction and as a result thereof, the Original Bonds have been redeemed in full by way of an exchange for new senior secured notes issued by the Company under ISIN SE0023314299 and new senior secured participating debentures issued by the immediate parent company of the Company, Quibot Topco AB (publ), under ISIN SE0023314307. The Recapitalization Transaction further included a transfer of ownership from the Company’s current shareholders to the holders of the Original Bonds and a new guarantee facility. This marks the formal completion of the Recapitalization Transaction.
Tomas Rönn, Quant CEO, declared: “With the completion of the recapitalization of the company, Quant is now positioned with a more sustainable level of debt. This strengthened financial foundation will enable Quant to continue delivering outstanding value to its customers and stakeholders, and to develop our operations under new ownership. We would like to thank all of our stakeholders for their constructive approach, support and cooperation throughout the process.”
Madelene Kärvin, Quant CFO, declared: “This transaction marks a key milestone in the development of Quant. The recapitalization not only provides a more sustainable level of debt but also extends the maturity of the facilities providing a stable platform from which to grow the business. We look forward to working closely with our new owners.”
Deloitte Statsautoriseret Revisionspartnerselskab acted as financial adviser on the Recapitalization Transaction, with White & Case Advokat AB representing the Company as legal advisor. Advokatfirman Hammarskiöld & Co AB acted as legal advisors to Nordic Trustee & Agency AB (publ) in its role as agent.
For further details on the Recapitalization Transaction, please refer to the notice of Written Procedure and the Company’s press releases from 14 November 2024, 5 December 2024, 11 December 2024, 23 December 2024 and 17 January 2025 all of which are available on the Company’s website.