First milestone under the previously announced DKK 10 million funding has been achieved, leading to a payout of DKK 2.75 million
COMPANY ANNOUNCEMENT NO. 100
As stated in Company Announcement no. 81, 29 November 2023, LED iBond International A/S (“LED iBond”) successfully reached agreements for DKK 10 million in new funding. The first step was completed in December 2023 by issuance of 12,857,141 new shares, raising DKK 4.5 million. The second step is to raise the remaining DKK 5.5 million through issuance of two tranches of convertible loans, conditional to two sequential milestone deliveries. LED iBond has successfully reached the first milestone, leading to a payout of DKK 2.75 million.
Martin Løbel, CEO of LED iBond international comments:
We have successfully delivered on a number of commercial, operational, and technical objectives, and thereby obtained the first predefined milestone, triggering a payout of DKK 2.75 million. The second milestone, regarding the remaining DKK 2.75 million, is due in November 2024”.
Further Information
Martin Løbel, CEO
Mobile: +45 2722 6237
Email: mlo@ledibond.com
Company contact
LED iBond International A/S
Agern Allé 5A
2970 Hørsholm
Denmark
CVR 36041609
+45 7070 7855
info@ledibond.com
www.ledibond.com
Certified advisor
Västra Hamnen Corporate Finance
Stortorget 13A
211 22 Malmö
Sweden
Telephone: +46 40 200 250
Email: ca@vhcorp.se
About LED iBond International A/S
Founded in 2014, LED iBond International offers innovative lighting solutions, based on years of development and deep knowledge of modern LED technology combined with advanced packaging and assembly technology. Our patented technology platform includes a very thin formfactor of only 6 mm for the light panels, offering a unique value proposition based on high design flexibility, robustness, IoT integration, and low total costs of ownership due to market leading energy efficiency and superior cooling properties. The technology platform also reduces the installation cost due to a modular design with a limited need for traditional electrical wiring.
LED iBond’s technology has been installed in many projects, ranging from intelligent shelf lighting to numerous large scale illumination projects such as various parking facilities and as the indoor installation of 3.2 kilometres of TRACY®, the company’s innovative flagship product, at the Technical University of Denmark. LED iBond’s has also developed software-based advanced light management systems for control of lighting solutions.
LED iBond is focusing on three key business lines: Smart Building (Industry & Home), Indoor and Vertical Farming, and UV Disinfection, all projected to show significant growth in the years to come. For Indoor and Vertical Farming segments, LED iBond’s roadmap includes lighting solutions which incorporate advanced IT management with monitoring using sensors, cameras, and plant analysis.
Manufacturing takes place in Denmark in LED iBond’s own production facility with highly automated assembly lines.
LED iBond International A/S is admitted to trading on Nasdaq First North Growth Market Denmark (ticker: LEDIBOND).