Brief: InCoax Networks Secures Bridge Financing Of SEK 15 Mln In Total

InCoax Networks AB

15/05/2020 15:51

May 15 (Reuters) - InCoax Networks AB  INCOAX.ST :
    * BRIDGE FINANCING OF 15 MSEK IN TOTAL SECURED WITH THE
THREE
LARGEST SHAREHOLDERS IN INCOAX
    * ENTERED LOAN AGREEMENTS WITH THREE LARGEST SHAREHOLDERS AS
BRIDGE FINANCING
    * LOANS ARE AT MARKET TERMS WITH AN INTEREST RATE OF 8% (ON
AN
ANNUAL BASIS)
    * TERM OF LOANS IS JUNE 15, 2020 - SEPTEMBER 15, 2020
    * TO ENSURE INCOAX'S SHORT-TERM NEED FOR WORKING CAPITAL,
BOARD
AND MANAGEMENT HAVE DECIDED TO RAISE A LOAN OF SEK 15 MILLION

Source text for Eikon:  ID:nWkr2hdH4j 
Further company coverage:  INCOAX.ST 

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