Brief: Coala-Life Group Secures Liquidity Of About SEK 27.3 Mln
01/02/2024 13:48
Feb 1 (Reuters) - Coala-Life Group AB (publ) COALA.ST :
* COALA-LIFE GROUP AB SECURES LIQUIDITY OF APPROX SEK 27,3 M
THROUGH CONVERSION AND PARTIAL EXTENSION OF BRIDGE LOANS AS WELL
AS NEW LOAN FINANCING WITH SET-OFF COMMITMENTS. THE COMPANY ALSO
PROVIDES AN UPDATE
* SETTLEMENT INITIALLY SECURES LIQUIDITY FOR COMPANY
AMOUNTING TO
ABOUT SEK 27.3 MILLION, WHICH COMPANY DEEMS SUFFICIENT FOR
COMPANY'S OPERATIONS UNTIL EXERCISE PERIOD OF WARRANT OF SERIES
3 IN JUNE 2024
* COST SAVINGS ANNOUNCED BY COMPANY IN SEPTEMBER AND
DECEMBER
2023, RESPECTIVELY, MEAN THAT COMPANY WILL REACH AN OPERATIONAL
COST BASE OF APPROXIMATELY SEK 6.5 MILLION PER MONTH DURING Q1
OF 2024
* INTENDS TO UTILIZE SET-OFF UNDERTAKINGS RECEIVED AND
RESOLVE ON
A NEW ISSUE OF SHARES
* NEW SHARES WILL BE ISSUED AT A PRICE OF SEK 0.063 PER
SHARE
* REMAINING OUTSTANDING BRIDGE LOAN OF APPROXIMATELY SEK 2.0
MILLION WILL BE PARTIALLY EXTENDED UNTIL 30 JUNE 2025, WHEN
AMORTIZATION WILL TAKE PLACE
Source text for Eikon: ID:nMFN8lKD52
Further company coverage: COALA.ST
(Gdansk Newsroom)
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