Artificial Solutions closes SEK 250 million credit facility
Today Artificial Solutions International AB (“Artificial Solutions” or the “Company” and together with its subsidiaries the “Group”) closed a 5-year credit facility of SEK 250 million, carrying an interest margin of 9.5% and with a PIK (payment in kind) interest by Capital Four’s fund, Capital Four Private Debt IV Fund. Capital Four is one of the largest independent credit asset management companies in the Nordics with a total of EUR 15 billion in assets under management.
The Company announced the signing of the term sheet for the credit facility already on October 5, 2021 and the transaction is now closed, and Artificial Solutions has received the proceeds from the new credit facility.
The proceeds have partially been used for refinancing the Group´s debt and convertible debt. Following repayment of the debt on December 22, 2021 and the related estimated transactional fees, approximately SEK 105 million in cash is available for supporting the Company’s continued growth and execution of the new SaaS model strategy built on the offering LUIS^Teneo.
Artificial Solutions CEO Per Ottosson comments: “Following the refinancing we also receive cash to support our continued growth from a reputable investor such as Capital Four. This is a sign of trust in our technology, people and new SaaS strategy. We welcome Capital Four as a long-term financing partner.”
This disclosure contains information that Artificial Solutions International AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 22-12-2021 16:54 CET.
For further information, please contact:
Fredrik Törgren, CFO, Artificial Solutions
Telephone: +46 (0)70 355 08 29
About Artificial Solutions
Artificial Solutions® (SSME:ASAI) is the leading specialist in Conversational AI. We enable communication with applications, websites and devices in everyday, humanlike natural language via voice, text, touch or gesture input.
Artificial Solutions’ advanced conversational AI Teneo®, allows business users and developers to create sophisticated, highly intelligent applications that run across 86 languages and dialects, multiple platforms and channels in record time. The ability to analyse and make use of the enormous quantities of conversational data is fully integrated within Teneo, delivering unprecedented levels of data insight that reveal what customers are truly thinking.
Artificial Solutions’ conversational AI technology makes it easy to implement a wide range of natural language applications such as virtual assistants, conversational bots, speech-based conversational UIs for smart devices and more. It is already used daily by millions of people across hundreds of private and public sector deployments worldwide.
Artificial Solutions International 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-post firstname.lastname@example.org).
For more information, please visit www.artificial-solutions.com.