Loudspring increases ownership in Eagle Filters, respirators pass requirements for first CE-certifications
Loudspring Oyj
Company release, insider information
23.12.2020, 14:00 (EET)
Loudspring has entered into financing agreement with Eagle Filters and its founder Mr. Juha Kariluoto. The agreement includes capital investments, loan conversions as well as purchase options of existing shares.
After the arrangement Loudspring has invested 2,5 million EUR more capital into Eagle Filters during 2020. In addition, Loudspring converts 1 million EUR previously existing loans to Eagle Filters into equity.
As part of the transaction, Loudspring has also agreed on a purchase option to purchase all remaining shares in Eagle Filters. The purchase option is exercisable in trances, valid until the end of 2025 and the total purchase price is based on the future performance of the company.
After the completion of the capital investments and loan conversion Loudspring ownership will increase to 85%. Further, Loudspring has the option to purchase the remaining shares and increase its ownership up to 100% of Eagle Filters.
Eagle Filters has today received information from the certification laboratory that its respirators have passed all required tests for CE certification in FFP2 class. Actual certification will be received immediately after the holidays. CE certification process is still ongoing for FFP3 class and certification laboratory estimates certification process to be completed during January 2021.
This disclosure contains information that Loudspring is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person, on 23 December 2020 at 14.00 (EET).
Contact information:
Jarkko Joki-Tokola, CEO, Loudspring Oyj. Tel. +358 40 637 0501, jarkko@loudspring.earth
Erik Penser Bank AB, Certified Adviser. Tel. +46 8 463 83 00, certifiedadviser@penser.se
Loudspring in brief
Loudspring is an investment company focused on saving natural resources. We own and operate Nordic growth businesses that are fighting climate change and making a big environmental impact. We have a diversified business portfolio with technologies that save energy, water and materials in industry, real estate and in everyday life.
The company group is listed on First North Growth Market Finland under the ticker LOUD and on First North Growth Market Stockholm under the ticker LOUDS.
LinkedIn: https://www.linkedin.com/company/loudspring/
Twitter: @loudspring
FB: @loudspringco