Artificial Solutions secures extension of existing EUR 11 million credit facility to support growth and issues warrants
Artificial Solutions® International AB (publ) (“Artificial Solutions”) (SSME:ASAI) the leading specialist in enterprise-strength conversational AI, has entered into an agreement with creditors to extend current credit facilities of EUR 11 million from March 31, 2021 to March 31, 2023. In addition, warrants were issued to the creditors, granting them the right to subscribe for EUR 5 million of new shares in Artificial Solutions before March 31, 2023, at a strike price of SEK 32 per share. The extension is intended to support the company’s continued growth.
“The extension of our credit facility will support the company’s continued efforts for growth globally and the warrant agreement with a strike price of SEK 32 per share is a clear signal of our creditor’s strong belief in Artificial Solutions’ growth prospects”, said Lawrence Flynn, CEO of Artificial Solutions. The 1,562,500 warrants were issued for no consideration under the current authorization of the AGM. If all warrants are exercised the dilutive effect is 3.2% for a cash contribution of approximately EUR 5 million (SEK 50 million).
For further information:
Lawrence Flynn, CEO, Artificial Solutions
Tel: +44 (0)1635 523267
This information is such that Artificial Solutions International AB (publ) 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 below, at 9:40 p.m. CET on 4 October, 2020.
Artificial Solutions International AB (publ) is listed on Nasdaq First North Growth Market in Stockholm with short name ASAI. Erik Penser Bank is the Company’s Certified Adviser (www.penser.se, tfn +46 (0) 8-463 83 00, e-mail firstname.lastname@example.org).