"In the two years since the acquisition, the cooperation with the minority owners, who are actively involved in our Latam operations, has been very positive and we are happy to have secured continued collaboration and commitment to our joint vision for the years to come. The integration of Gosocket is proceeding according to plan and we are realizing synergies. As a result of acquiring the leading Latin American vendor, we are very well positioned for global market leadership", says Bengt Nilsson, CEO at Pagero.

"Since joining forces with the Pagero team in 2021, we have made significant progress to further develop the business in Latam to position us well for the needs of international companies in the complex and highly regulated e-invoicing environment in Latam. The last two years, we have built a very synergetic relationship with Pagero, reinforcing our partnership and our will to further extend our collaboration. We see tremendous opportunity in the joint proposition to the global market and are excited about continuing this journey together", says Alan Guzowski, representative of the minority shareholders.

The remaining cash of the SEK 150 million loan will allow for increased flexibility as the company executes its business plan and continues on its path towards the 2025 financial goals of SEK 1,500 million in ARR and a 20% EBITA margin. With the loan, the company has exercised SEK 450 million of the available SEK 1,500 million under the existing financing arrangement with Ture Invest which the company entered on 9 May 2022.

Simultaneously, Pagero and the minority owners of Gosocket have agreed to move the beginning of exercise periods of the put option, from 30 June 2024 to 1 Jan 2026 and the call option, from 30 Jue 2025 to 1 Jan 2027. This will allow the parties to continue working together on their expansion plans and other collaboration projects around the world.

In June 2021, Pagero invested in Gosocket and acquired a majority stake in the Latin American e-invoicing leader hence strengthening Pagero's international expansion strategy.

The Board has used its authorisation from the AGM, held on 11 May 2023, to issue new shares. The share issue of 2,775,223 shares, at a price of 15.87 SEK per share, results in a dilution of 1.7%.

For more information

Bengt Nilsson, CEO
Bengt.nilsson@pagero.com

Jan-Olof Ohlsson, CFO
Jan-olof.ohlsson@pagero.com

Certified adviser

Erik Penser Bank is Certified Adviser

This information is information that Pagero Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-09-28 at 22:10 CET.

About Pagero

Pagero provides a Smart Business Network that connects buyers and sellers for automated, compliant, and secure exchange of orders, invoices, payment instructions and other business documents. With an open network and a wide range of value-added apps, Pagero helps businesses streamline their order-to-cash and purchase-to-pay processes while unlocking the full potential of accurate and reliable business data. All of this, regardless of location, industry, size or systems. 

Pagero's share is traded on Nasdaq First North Growth Market under ticker PAGERO and ISIN SE0016830517.

Find out more on www.pagero.com
 

About Gosocket

Gosocket, is the leading platform in Latin America for the electronic exchange of documents based on digital signature, developed according to the regulations established by the tax administration of each country.

Thanks to its more than 20 years of experience in electronic invoicing and presence in 15 regulated countries, Gosocket has acquired the leadership in proving a standardized and compliant solution across the region facilitating engagement and transactions between suppliers and buyers centred in invoice management.

Gosocket envisions an open and secure business network, recognizing the value and power of the economy integration and digitalization.

For more information visit www.gosocket.net