Avidly Plc has agreed on drawing down the latter loan tranche of EUR 1.0 million from the previously announced EUR 2.5 million debt financing arrangement

Avidly Plc has agreed on drawing down the latter loan tranche of EUR 1.0 million from the previously announced EUR 2.5 million debt financing arrangement

Avidly Plc, company announcement, 30 November 2020 at  3.00 pm EET

Avidly Plc (“Company”) has agreed on drawing down the latter installment of EUR 1.0 million from the debt financing arrangement totaling EUR 2.5 million announced in June  2020 after the terms set for the Company’s EBITDA development were met. The loan will be drawn down by the end of 2020.

In June 2020, Avidly Plc agreed together with its bank and two domestic insurance companies on EUR 2.5 million long-term debt financing to strengthen the Company’s liquidity and to support its growth. The first tranche of the financing arrangement, totaling EUR 1.5 million, was drawn down at the end of June 2020.

Further information on the arrangement can be found in the company announcement issued on 30 June 2020.

AVIDLY PLC

Board of Directors

Additional information:

Hans Parvikoski, CFO tel. +358 40 586 6154

Oaklins Merasco Oy acts as Avidly Plc’s Certified Advisor, tel. +358 9 6129 670

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