Valuno Group announces new agreement with Paysecure regarding previous contract
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Nordic SME Sweden |
| Sektor | Finans |
| Industri | Övriga finansiella tjänster |
Valuno Group announces that an agreement has been reached with Paysecure (Netgraph) regarding the parties’ previous contract. The agreement stipulates that no shares will be issued to Paysecure, and that Valuno will repay the loan of €0.5 million along with a market-based interest component.
In September 2023, Valuno entered into a collaboration with Paysecure, where Paysecure committed to using its platform to drive traffic and users to Valuno. This partnership was expanded in November 2023 to include an agreement granting Paysecure the right to subscribe for newly issued shares in Valuno at a discounted price, provided that certain commercial conditions were met. The maximum dilution that could have resulted from this agreement was 10% of Valuno’s outstanding shares. Furthermore, in February 2024, Valuno announced that it had secured a loan of €0.5 million from Paysecure, with the intention of converting the loan into shares in a new share issue once the commercial targets were achieved.
However, the commercial partnership never materialized. Instead, Valuno has achieved high growth through other collaborations. Valuno’s financial position has significantly improved since the agreements were originally signed, leading the company to initiate renegotiations. Today, Valuno is pleased to announce that these negotiations have now been concluded, resulting in a new agreement.
Under the new agreement, all contracts between Valuno and Paysecure will be terminated with immediate effect, no new share issuance will take place, and Valuno will repay the €0.5 million loan along with a market-based interest component. As a result, no dilution of shares will occur under these agreements.
At the same time, both parties have left the door open for future collaborations and investments, which would be based on new agreements and updated conditions.
"We are very pleased to have reached this solution and would like to thank Paysecure for their flexibility in these negotiations. Valuno is in a much stronger position today than when we originally negotiated with Paysecure in the fall of 2023. Once again, this demonstrates the importance of choosing the right business partners. A long-term belief in the company has driven all parties to seek a new agreement that aligns with Valuno’s much faster recovery than we initially thought possible in late 2023. We view future collaboration opportunities positively. For Valuno, this is a very favorable outcome. We are pleased to inform our shareholders that no dilution will take place as a result of the previous agreements with Paysecure," says Daniel Sonesson, CEO of Valuno Group.
For further information, please contact:
Daniel Sonesson, CEO
+46 (0)10-2045431
ir@quickbit.com
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Valuno Group is a Swedish fintech company founded in 2016, with the goal of making the integration of cryptocurrencies into the everyday lives of people and companies smoother. Today, Valuno offers safe and easy-to-use products for e-merchants as well as customers. With a transaction volume to date in excess of €1 billion, Valuno has already enabled and empowered individuals around the world, through the use of cryptocurrencies. Valuno has been listed on NGM Nordic SME since July 2019. For more information, please visit www.investor.valuno.com.