Avidly Plc has agreed on EUR 2.5 million debt financing

Avidly Plc, company announcement, 30 June 2020 at  2:35 pm EET

Avidly Plc (“Company”) has 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 financing arrangements includes a guarantee issued by a third party.

The first tranche of the financing arrangement, totaling EUR 1.5 million, will be drawn down immediately. The withdrawal of the remaining EUR 1.0 million is conditional on the terms set by the financiers for the Avidly Group's EBITDA in January–September 2020 and on the Company management’s estimate of full year 2020 EBITDA. The second tranche will be drawn if the terms are met on 30 November at the latest. The financing agreement also includes other terms customary for financing agreements, such as a covenant on equity ratio.

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

Information on Avidly Plc

Avidly is Finland’s leading marketing and communications service provider and a leading marketing automation company in the Nordics, listed on the Nasdaq First North Growth marketplace in Helsinki. We create an atmosphere for growth to take our customers forward. We are a team of around 230 navigators and explorers, makers and shakers in 16 locations in Finland, Sweden, Norway, Denmark and Germany. Read more: investors.avidlyagency.com/en

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