Safeture signs agreement for SEK10m working capital facility
Safeture AB (publ) today announced it has signed an agreement with the investment company Adma Förvaltnings AB, Safeture’s largest shareholder, for a credit facility of up to SEK 10 million. The financing will be used to pursue Safeture’s aggressive growth strategy.
"Safeture’s employee-safety platform is gaining momentum globaly as companies continue to understand their corporate duty to care for all of their employees wherever they are,” said Magnus Hultman, CEO of Safeture.
“This extra financing will give us an extra boost as we scale our business as we continue to see opportunities in the market.”
The board continuously evaluates suitable financing alternatives with the aim of securing Safeture's long-term financing in an optimal way. This loan is a step, with a view to meeting the capital requirements that arise in the development of the Safeture's products.
- The loan amount is for a maximum of SEK 10 million. The lender will lend SEK 5 million after the agreement is signed and the remaining SEK 5 million no later than five bank days after the borrower requests the funds
- Interest on the loan is based on STIBOR 3 months + 600 basis points
- The loan is due for payment on December 31, 2020
- The borrower is entitled to repay the loan together with accrued interest in advance without any obligation to pay compensation to the lender for a difference in interest.
For additional information, visit www.safeture.com or contact:
Safeture CEO Magnus Hultman: +46 706 00 81 66. Magnus.firstname.lastname@example.org
About Safeture AB
Safeture (founded in 2009) is a Software as a Service (SaaS) company based in Sweden.
The company offers a complete cloud-based platform designed to manage employee safety and risk/crisis management. Through world-leading technology and innovative solutions, Safeture help companies and organizations to protect what matters most – their employees.
Safeture Enterprise gives larger corporations the ability to effectively automate safety and security while seamlessly integrating the software to become a natural part of their internal processes.
The Safeture share is listed on NASDAQ First North Growth Market Stockholm (ticker: SFTR). Erik Penser Bank AB is the Certified Adviser. Ph: +46 8-463 83 00 E-mail: email@example.com.
This press release is information that Safeture AB 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 set out above, at 08:00 am CET on 2020-02-28.