MyFirstApp Sweden AB (Publ) secures a credit of 500 TSEK from an related party

Stockholm - February 29, 2024

MyFirstApp has today secured a credit of 500,000 SEK from a related lender to strengthen its working capital. The credit can be utilized as needed, up to a limit of 500,000 SEK. Initially, the credit will run until December 31, 2024.

The company has today entered into a credit facility with Iron Branch Invest AB for 500,000 SEK, which carries market-rate terms of 8% annual interest + STIBOR, due on December 31, 2024. Final payment will be made at 108% of the debt on the due date.

This is a related party transaction since Jesper Nord is the CEO of both the creditor and the debtor.

MyFirstApp Sweden AB (Publ) aims to repay the debt, including accrued interest, to the lender from its own cash flow during the period.

This is information that MyFirstApp Sweden AB (Publ) is obliged to make public according to the EU Market Abuse Regulation (MAR). The information was made publicly available by the Company’s contact person set out below on 29 February 2024.

For further information, please contact:
Jesper Nord, CEO MyFirstApp Sweden AB (publ)
Mobile: +4673 329 13 29
Email: jesper@myfirstapp.com

MyFirstApp Sweden AB (publ)
The MyFirstApp group is an edtech company that offers a wide range of educational games and applications through our brands Evolear, 10Monkeys, TalesTime, and MyFirstApp worldwide. Our commitment is to promote children's learning and development in areas such as mathematics, language, and cognitive skills by providing fun and interactive tools adapted for various ages and stages of development