Brief: Kollect On Demand Holding: Change To Previously Announced Debt Financing Raise

Mashup Ireland AB

23/03/2021 14:21

March 23 (Reuters) - Kollect on Demand Holding AB (publ)
 KOLL.ST :
    * KOLLECT ON DEMAND HOLDING (PUBL) ANNOUNCES A CHANGE TO
PREVIOUSLY ANNOUNCED DEBT FINANCING RAISE
    * IT HAS NOT BEEN POSSIBLE TO COMPLETE SHAREHOLDER'S LOAN
FROM
JOHN O'CONNOR FOR TECHNICAL REASONS
    * KOLLECT HAS AGREED WITH FORMUE NORD FOKUS A/S ("FORMUE
NORD") TO
FURTHER INCREASE BRIDGE LOAN FACILITY ANNOUNCED ON AUGUST 26,
2020 BY SEK 1.6 MILLION FROM SEK 4.9 MILLION TO A TOTAL OF SEK
6.5 MILLION
    * NET PROCEEDS OF THIS ADDITIONAL LOAN WILL BE USED FOR
WORKING
CAPITAL PURPOSES
    * TERMS OF BRIDGE LOAN FACILITY, WHICH IS PROCURED AT MARKET
CONDITIONS AND IN LINE WITH PREVIOUS BORROWINGS FROM FORMUE
NORD, REMAIN UNCHANGED, EXCEPT THAT THERE WILL BE NO ISSUE OF
NEW WARRANTS TO FORMUE NORD
    * DUE TO INCREASED BRIDGE LOAN FACILITY WITH FORMUE NORD,
SHAREHOLDER'S LOAN PREVIOUSLY AGREED WITH CEO, JOHN O'CONNOR,
HAS BEEN TERMINATED, WITHOUT FUNDS BEING DRAWN DOWN

Source text for Eikon:  ID:nMFN4vlnPn 
Further company coverage:  KOLL.ST 

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