Artificial Solutions closes SEK 250 million credit facility

Today Artificial Solutions International AB (“Artificial Solutions” or the “Company” and together with its subsidiaries the “Group”) closed a 5-year credit facility of SEK 250 million, carrying an interest margin of 9.5% and with a PIK (payment in kind) interest by Capital Four’s fund, Capital Four Private Debt IV Fund. Capital Four is one of the largest independent credit asset management companies in the Nordics with a total of EUR 15 billion in assets under management.

The Company announced the signing of the term sheet for the credit facility already on October 5, 2021 and the transaction is now closed, and Artificial Solutions has received the proceeds from the new credit facility.

The proceeds have partially been used for refinancing the Group´s debt and convertible debt. Following repayment of the debt on December 22, 2021 and the related estimated transactional fees, approximately SEK 105 million in cash is available for supporting the Company’s continued growth and execution of the new SaaS model strategy built on the offering LUIS^Teneo.

Artificial Solutions CEO Per Ottosson comments: “Following the refinancing we also receive cash to support our continued growth from a reputable investor such as Capital Four. This is a sign of trust in our technology, people and new SaaS strategy. We welcome Capital Four as a long-term financing partner.”