Eyeonid terminates financing agreement with ESGO
Eyeonid Group AB (publ) (”Eyeonid” or ”The Company”) has decided not to call for additional tranches connected to the financing agreement entered into January 30, 2018, and has decided to terminate the agreement.
Eyeonid entered an agreement with European Select Growth Opportunities Fund (”ESGO” or the ”Investor”) on January 30, 2018, whereas the Company would issue notes convertible into shares for up to SEK 100m in several tranches. The agreement also provided the issuance of warrants to ESGO as well as to all other shareholders, at the time of each tranche. Such warrants have been admitted to trading on Nordic MTF.
The board of directors of Eyeonid has decided not to call for additional tranches according to the financing agreement, whereby the agreement has been terminated in its entirety.
According to the original agreement and the termination agreement, ESGO remain in its right to convert any outstanding convertible notes into shares according to the terms specified in the written terms for the convertible notes. Within the termination agreement, ESGO has accepted to renounce to the TO4 warrants that should have been issued under the tranche of SEK 3 million called for May 3, 2019, except if Eyeonid, for any reason, would issue additional warrants for the warrant series TO4, in which case Eyeonid will issue the corresponding amount of warrants (625,000 warrants TO4) to ESGO.
“The cooperation with ESGO has worked very well as it provided important financial resources for the company. However, the board of directors has chosen not to call for any additional tranches, whereby the agreement has been terminated in good faith between the parties.” says Henrik Sundewall, chairman of the board of directors, Eyeonid Group AB (publ).
For more information, please contact
Henrik Sundewall, chairman of the board of directors, Eyeonid Group AB (publ)
Phone: +46 76 877 00 00
Eyeonid was founded in 2014 and has since its inception developed a technically complex and advanced platform for proactive ID protection services. The company's service monitors and alerts customers when sensitive, private and corporate digital information, such as login credentials, credit card numbers and social security numbers, are found at unauthorized sites on the internet, whereupon the customer can act and protect himself.
This information is information that Eyeonid Group AB (publ) is obliged to disclose under the EU Market Abuse Regulation. The information was provided, through the contact of the above contact person, for publication on the 27th of May 2019.