S2Medical AB Secures New Loan Agreement and Aims to be Debt-Free by July 2024
S2Medical AB (publ) ("S2Medical") is proud to announce the signing of a new loan agreement. This agreement replaces the previous one, which expired in December 2022. With this new financing structure, it is the Company's intention that, after an initial repayment, a remaining loan debt of approximately SEK 8.1 million will be retained.
The loan carries a monthly interest rate of 3% until December 2023 and will be reduced to 1.5% thereafter. The agreement stipulates that a portion of the original loan will be repaid using funds from the cash received from the rights issue that the company is currently undertaking. The remaining part of the loan will be repaid through the cash from the subscription options that are due in 6, 12, and 18 months. The Company is expected to be debt-free by no later than the end of July 2024.
The CEO of S2Medical comments: "We are pleased to have secured this new financing arrangement that will support our continued growth and development. We look forward to continuing to work with our lenders and shareholders to deliver on our long-term strategy."
This disclosure contains information that S2Medical AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 04-07-2023 10:21 CET.
Contact Details
Petter Sivlér – CEO, S2Medical AB (publ)
Telephone: +46 (0)8-70 000 50
E-mail: petter.sivler@s2m.se
Certified Adviser
Vator Securities AB
Telephone +46 (0)8-580 065 99
Website: www.vatorsec.se
E-mail: ca@vatorsec.se
About S2Medical
S2Medical AB (publ) is a medical technology company that develops and sells innovative wound healing products for the entire wound healing process, with a focus on burns and chronic wounds. The company has developed eiratex®, a new cellulose-based material for healing severe burns and chronic wounds. The material heals wounds effectively and thereby reduces both suffering for patients and costs for health care.
Share's ticker: S2M
Share's ISIN-code: SE0011725084