Artificial Solutions signs binding renegotiated credit facility agreement
Artificial Solutions International AB (publ) (“Artificial Solutions” or the “Company”) today announces that a binding amendment and restatement agreement in relation to the renegotiated credit agreement with the lender Capital Four-Private Debt IV Fund DMS QIAIF PLATFORM ICAV ("Capital Four") has been signed.
On December 23, 2022, the Company announced that the board of directors of Artificial Solutions resolved on a partially guaranteed rights issue of approximately SEK 145 million conditional on the approval of the extraordinary general meeting to be held on January 30, 2023 and that the Company and Capital Four had agreed on certain amendments to the credit agreement regarding the Company's debt to Capital Four. The agreement with Capital Four was conditional on that a binding amendment and restatement agreement regarding the renegotiated credit agreement was entered into prior to the extraordinary general meeting to be held on January 30, 2023, as well as the completion of the rights issue.
The Company and Capital Four have today signed a binding amendment and restatement agreement regarding the renegotiated credit agreement. According to the new terms for the credit agreement, all accrued interest, corresponding to approximately SEK 28 million, will be written off and the yearly interest rate onwards is adjusted down to 4.00 percent. These amendments to the credit agreement will result in a debt reduction at the maturity of the credit agreement corresponding to approximately SEK 145 million in total. It is a condition for the renegotiated credit agreement to become effective that, amongst others, the rights issue is carried out.
For further information:
Per Ottosson, CEO, Artificial Solutions
Email: per.ottosson@artificial-solutions.com
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 certifiedadviser@penser.se).
For more information, please visit www.artificial-solutions.com.