Loudspring signed 2,5M€ convertible loan agreement with NEFCO
Loudspring has signed a convertible loan agreement with the Nordic Environment Finance Corporation (NEFCO). The total amount is up to 2,5M€. NEFCO has the right to convert the amount drawn down of the loan in part or in full at a 1,00€ per share conversion price. The conversion period starts 24 months after and ends 30 months after signing. The loan duration is up to 7 years. The convertible loan is subject to an authorization of 2 500 000 so called special rights (options) for NEFCO by an extraordinary general meeting, to be convened separately.
NEFCO is an International Financial Institution (IFI) established in 1990 by the five Nordic countries – Denmark, Finland, Iceland, Norway and Sweden – with the specific purpose of promoting green growth, climate change mitigation and sustainable development.
Loudspring may use the loan in instalments and the proceeds will be used to accelerate growth of selected portfolio companies active in the areas of energy and resource efficiency. These companies operate in different technology areas and are now looking for growth in new markets outside Europe.
Magnus Rystedt, CEO of NEFCO sees many opportunities for investing in several companies through Loudspring: “Through this investment we can achieve a greater environmental impact while reducing the financial risks. As the selected companies plan to expand, this project also fits well with NEFCO’s strategy to promote the growth of Nordic green companies on global markets. ”
Lassi Noponen, CEO, Loudspring: "Loudspring saves natural resources globally with Nordic technologies. We are therefore pleased to start cooperation with NEFCO, a prestigious Nordic International Financial Institution and a key financier for Nordic environmental technologies. We look forward to deploying growth capital to our core businesses and accelerating their growth, and believe that the agreed financing will also be beneficial for Loudspring shareholders.”
NEFCO is an International Financial Institution (IFI) established in 1990 by the five Nordic countries – Denmark, Finland, Iceland, Norway and Sweden – with the specific purpose of promoting green growth, climate change mitigation and sustainable development. NEFCO has financed more than 700 small and medium-sized private and public projects across various different sectors in 60 countries, with a strong focus on Eastern Europe, the Baltic Sea, and the Arctic and Barents Region. NEFCO’s headquarters are located in Helsinki, Finland. NEFCO also has an office in Kiev, Ukraine, and is represented through long-term engaged consultants in St Petersburg, Russia. Read more at www.nefco.org.
Lassi Noponen, CEO Loudspring Plc. Tel. +358 40 501 5127, email@example.com
Thomas Bengtsson, Executive Chairman of Loudspring Plc. Tel. +46 70 515 40 40, firstname.lastname@example.org
Access Partners Oy, Certified Advisor. Tel. +358 9 682 9500
Loudspring in brief
Loudspring is an industrial group focused on saving natural resources. We own and operate Nordic growth businesses that are making a big environmental impact. We have a diversified business portfolio in order to balance out the fluctuations of individual companies’ performance. Our technologies save energy, water and materials in industry, real estate and in everyday life. Our business consists of two branches: Loudspring Industry – majority owned businesses, and Loudspring Ventures – minority ownerships.
The company group is listed on First North Finland under the ticker LOUD and on First North Stockholm under the ticker LOUDS.