CybAero signs market loan of 34 million SEK
CybAero has raised a loan of 34 million SEK (4,25 MUSD) with a maturity of one year and an interest rate of 12 %.
Lenders are a consortium of institutional and qualified investors, including Erik Penser Bank and lenders arranged by Redeye AB. The Board of CybAero is of the opinion, based on the current business plan, that the loan together with expected customer payments will cover the company's capital needs for the coming twelve months.
Claes Drougge, CybAero’s Chairman commented, “Over the last year we have clearly disappointed the market and our shareholders. It is this Board’s belief that the market wants to see CybAero delivering product, signing new customers and rationalizing costs and it is this Board’s belief that the Company is now well positioned to do so.”
For more information, please contact:
Mikael Hult, CEO CybAero AB, tel: +46 (0)13-465 29 00
CybAero develops and manufactures Remotely Piloted Aircraft Systems (RPAS) for safer and more effective aerial operations in various environments, including those hazardous in nature. The company has made a great international impact with its APID One helicopter, which can be adapted for both military and civilian applications such as coastal and border surveillance, search and rescue missions, and mapping. CybAero’s head office is located in the Mjärdevi Science Park in Linköping, Sweden. The company has around 55 employees and has been listed on the Nasdaq First North since 2007. FNCA Sweden AB is the company's certified adviser.
Web: www.cybaero.se Videos: www.youtube.com/cybaero