Enzymatica AB: Enzymatica secures funding for operations
June 07 2018 - 2:30AM
Press release
June 7, 2018
Enzymatica secures funding for
operations
Enzymatica has received a bridge
loan of total SEK 30 million from three of its principle owners to
fund the business for 2018. At the same time, the Board of
Directors is working with financial advisers to ensure the
long-term financing of the company's international
expansion.
As Enzymatica stated in its Q1 report, the Board
of Directors and the management have planned to secure funding to
meet the company's needs. Since there is now a need to strengthen
liquidity and to raise working capital, three of the principal
owners, Mats Andersson, Håkan Roos and Björn Algkvist, have granted
a bridge loan of SEK 30 million to fund operations for the rest of
2018. The loan carries an annual interest rate of 6.95% plus a loan
fee of 1.50%, which is considered to correspond to market-like
conditions. The loan shall be repaid when the long-term financing
has been secured, however, not later than December 20, 2018.
In addition to these added funds , there is an
unutilized credit facility with a maximum amount of SEK 9.8 million
via factoring in the parent company.
In addition to the bridge loan, the Board is
working with financial advisers to financially ensure
implementation of Enzymatica's international expansion plan.
"We
are pleased to have strong long-term shareholders who are willing
to put up capital at this stage of expansion, which the company is
now undergoing. We will now have the breathing room we need to
continue working on strengthening the documentation for ColdZyme,
marketing the product and concluding international distributor
agreements," says Fredrik Lindberg, CEO of Enzymatica.
The information in this press release is
information that Enzymatica is obliged to make public pursuant to
the EU Market Abuse Regulation. The information was submitted for
publication, through the agency of the contact person set out
above, at 08.30 a.m. CET on June 7 2018.
For
more information, please contact:
Fredrik Lindberg, CEO, Enzymatica AB
Tel: +46 (0)708-86 53 70 | Email:
fredrik.lindberg@enzymatica.com
About Enzymatica AB
Enzymatica AB is a Swedish life science company that develops and
sells medical devices for infection-related diseases. The products
are based on a barrier technology that includes marine enzymes. The
company's first product is ColdZyme® Mouth Spray, which can prevent
colds and reduce the duration of disease. The product has been
launched in about ten markets. The strategy is to continue to grow
by strengthening the Company's position in existing markets and
expanding into new geographic markets through established partners.
The company has its headquarters in Lund and is listed on Nasdaq
First North. For more information,
visit: www.enzymatica.com.
Enzymatica's certified advisor is Erik Penser
Bank.För mer information, kontakta:
Fredrik Lindberg, VD Enzymatica AB
Tel: 0708-86 53 70 | E-post:
fredrik.lindberg@enzymatica.com
Om Enzymatica AB
Enzymatica AB är ett life science-bolag som
utvecklar och säljer medicintekniska produkter mot
infektionsrelaterade sjukdomar. Produkterna är baserade på en
barriärteknologi, som inkluderar marina enzymer. Bolagets första
produkt är ColdZyme® Munspray som kan förhindra förkylning, och kan
förkorta sjukdomsperioden. Produkten har lanserats på ett tiotal
marknader. Strategin är att fortsätta växa genom att stärka
positionen på befintliga marknader och expandera till fler
geografiska marknader via etablerade partners. Bolaget har
huvudkontor i Lund och är listat på Nasdaq First North. För mer
information, besök: www.enzymatica.se.
Enzymaticas Certified Adviser är Erik Penser
Bank.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Enzymatica AB via Globenewswire
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