Camanio Care receives funding of 3 million SEK and thereby prolongs cash liquidity until end of June, and terminates agreement with ESGO
Camanio Care has today received funding through a new short-term loan of 3 million SEK. Through this action, the company has enough cash to finance operations until the end of June. Previously a rights issue was planned for April, but the rights issue is now planned to take place during June. Camanio Care has also terminated the agreement with the European Select Growth Opportunities Fund (ESGO).
The loan is from a financial actor and runs with 8 percent annual interest rate.
Camanio Care have previously had the possibility of financing by issuing convertible debt instruments to the ESGO. However, this has not been used since December 6, 2017. On July 25th, 2018, Camanio Care communicated that both parties agreed that the financial model according to the agreement was not favorable for Camanio Care. The agreement was despite this left intact as an option, but the financing has not been used since that time, and the agreement has now been terminated. ESGO today has no outstanding convertibles or warrants to exercise in Camanio Care.
Camanio Care postpones the annual meeting of shareholders until June 4thand will thereby publish the annual report four weeks before the meeting, eg May 7th. The reason for the changed date is the company’s ongoing activities within financing.
For more information, please contact:
Catharina Borgenstierna, CEO
Telephone: +46 733-93 00 07
About Camanio Care
Camanio Care is a care technology company developing smart solutions for digital home care with the individual in focus. The company offers digital service platforms, products and services, such as Vital Smart Care, ICE, BikeAround, Bestic and Giraff. Through optimizing the mix of physical and digital care, Camanio Care works to support the basic needs of individuals and increasing the freedom, efficiency and quality of care. Camanio Care has its headquarters in Stockholm, the subsidiary Camanio Care Inc. in the U.S., and distributors in Asia, Middle East, Hongkong, Australia and tens of European countries.
Visit our website and subscribe to our newsletter, www.camanio.com.
This information is information that Camanio Care is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, on March 27, 2019.