Brighter terminates its financing arrangement with Unwrap Finance and intends to streamline operations
The Board of Directors of Brighter AB (publ) has decided to terminate its financing arrangement with Unwrap Finance, which has been one of the cornerstones in the financing of the Company's operations and is referred to in the financial reporting, and to focus instead on other financing solutions.
“The company is always evaluating available financing options. Building pre-payments into financial agreements with major customers/distributors at the contract stage is currently part of our primary strategy. Other priority options include traditional bank finance, loan finance, contract finance and export finance models. The rights issue announced 29 January is a first step in bringing about this change,” says Christer Trägårdh, interim CEO at Brighter AB.
Moreover, the Board has decided to streamline its operations to focus on Brighter's core business of data-driven and mobile-connected diabetes care. As a result, the company is exploring new ways of financing its subsidiaries Camanio and Nectarine Health, which could considerably reduce overall capital requirements.
For further information, please contact:
Christer Trägårdh, Acting CEO
Brighter’s Certified Adviser is Eminova Fondkommission AB, +46 (0)8 – 684 211 10, email@example.com, www.eminova.se.
About Brighter AB (publ)
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 provide 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 is certified under ISO 13485. In 2019 the company won the Swecare Rising Stars Award. The Company's shares are listed on Nasdaq First North Growth Market/BRIG.
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, at 15:25 CET on January 29, 2021.