Brighter files for bankruptcy
Brighter AB (Publ.) (“The Company”) In light of the district court's decision on November 21, 2022 that the corporate restructuring must cease, the board of Brighter AB has decided that the company will file for bankruptcy. The application has been sent to Solna District Court.
During the past 1.5 years, the new board and management have worked intensively to activate a long-term business strategy to create profitable growth, but the work has been characterized by challenging pandemic effects in combination with the changed macroeconomic situation.
Brighter was granted corporate restructuring on 2 November to gain time to implement operational and organizational changes in order to adapt the financial conditions for success. A very extensive work has been carried out to prepare and start implementing the reconstruction plan and the company has had ongoing dialogues with various potential stakeholders regarding financing throughout the period.
The company believes that a continued reconstruction would have been a better solution for both the company, suppliers and shareholders. However, the district court's decision that the corporate restructuring must end has resulted in Brighter now filing for bankruptcy.
The company has submitted that the district court shall appoint Mikael Kubu at Ackordscentralen AB as bankruptcy administrator.
For more information, please contact:
Investor Relations
IR@brighter.se
Certified Adviser
Brighter’s Certified Adviser is Mangold Fondkommission AB, www.mangold.se
About Brighter
Brighter is a health-tech company from Sweden with a vision of a world where managing chronic diseases is no longer a struggle. We believe a data-centric approach is key to providing smarter care for chronic conditions. Our daily-care solutions are designed with a vision to facilitate the flow of real-life treatment data between chronic-disease patients, their loved ones and their care providers – aiming to improve quality of life, easing the burden on healthcare systems, and opening new opportunities for data-driven research. Brighter's quality management system is ISO13485 certified. In 2019 the Company won the Swecare Rising Stars Award. The Company's shares are listed on Nasdaq First North Growth Market/BRIG.For more information, please visit our website at www.brighter.se.
This information is information that Brighter AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on 23 November at 13:45 CEST