As stated in Company Announcement no. 81, 29 November 2023, LED iBond International A/S ("LED iBond") successfully reached agreements for DKK 10 million in new funding. The first step was completed in December 2023 by issuance of 12,857,141 new shares, raising DKK 4.5 million. The second step is to raise the remaining DKK 5.5 million through issuance of two tranches of convertible loans, conditional to two sequential milestone deliveries. LED iBond has successfully reached the first milestone, leading to a payout of DKK 2.75 million.

Martin Løbel, CEO of LED iBond international comments:

We have successfully delivered on a number of commercial, operational, and technical objectives, and thereby obtained the first predefined milestone, triggering a payout of DKK 2.75 million. The second milestone, regarding the remaining DKK 2.75 million, is due in November 2024".