Ayima Secures Additional Funding to Maintain Growth Strategy

Ayima Group AB has today signed an agreement with a small group of investors for a loan instrument to provide 8.5Msek in additional working capital funding. The lenders are Göran Månsson (3MSek), Gerhard Dal (3Msek) and Ayima Employee Benefit Trust (2.5Msek).

The terms of the loans are as follows:

• Term of 12 months
• Interest of 12% payable quarterly
• Loan is convertible to equity after 30 days in full or in part for not less than 1.0Msek
• Any conversion into shares will be at 15% discount of weighted average price from previous 10 trading days
• 90 days’ notice if lender will decide to call in loan at the end of the term

The reason for the loan is that the board recognised a need for additional working capital due to the recent robust growth in customer acquisition and associated staff recruitment. It was decided that a loan was the best method of achieving this funding due to the relatively short-term nature of the requirement and the lower cost compared with a share issue.

The conversion pricing discount of 15% was decided due to the extreme volatility that the share price has been experiencing in recent months and was required to secure the loan. The board is comfortable that the funding achieved through the loan agreements will be sufficient to provide Ayima with working capital to continue to focus on its stated growth strategy for the foreseeable future.

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For further Information:
CEO/VD Michael Jacobson
+44-20 7148 5974
press(at)ayima.com
www.ayima.com

About Ayima 

Originally founded in 2007, Ayima is a digital marketing agency with around 145 employees across its offices in London, New York, San Francisco and Vancouver. Ayima have created a number of market-leading software tools that are used in by clients and agencies around the world, including ‘Updatable’, ‘Redirect Path’, ‘Page Insights’, ‘Pulse’ and ‘Appotate’.

This information is insider information that Ayima Group 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, on February 5, 2018.