Brief: Neodynamics Updates On Financial Situation

Neodynamics AB (publ)

29/11/2023 13:40

Nov 29 (Reuters) - Neodynamics AB  NEOD.ST :
    * SAID ON WEDNESDAY COST REDUCTION PLAN WILL NOT HAVE
CASH-EFFECT
UNTIL END OF FIRST QUARTER OF 2024
    * THIS MEANS CO'S SHORT-TERM CASH RESERVES ARE STRESSED
    * BOARD AND MANAGEMENT THEREFORE WORKING TO SECURE
SHORT-TERM
FINANCING BY MEANS OF BRIDGE LOAN
    * BOARD AND MANAGEMENT PURSUING LONG-TERM SOLUTION FOR
SUFFICIENT
CAPITAL TO CONTINUE COMMERCIALISATION OF NEONAVIA IN EUROPE, US
    * THIS INCLUDES EARLY DISCUSSIONS ABOUT POTENTIAL SALE OF CO
    * THERE ARE NO GUARANTIES THAT EFFORTS TO SECURE SHORT OR
LONG-TERM FINANCING WILL BE SUCCESSFUL

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nMFN4dlSlw
 Further company coverage:  NEOD.ST  

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