Almost 90 % of the convertible loan with due date December 30, 2020 will be converted into shares at a share price of SEK 3,07
SpectrumOne AB has received commitments amounting to SEK 15.1 million constituting 89 % of the total convertible debt 2019/2020 (ISIN code SE0012193290). The convertible debt was issued during the first quarter of 2019 and provided the Company with approximately SEK 17 million. Until December 15, 2020, a convertible holder can convert all or part of their convertible receivable into shares in SpectrumOne AB at a conversion price of SEK 3.07 per share (the initial price was SEK 3.25 but has been recalculated in accordance with the terms and conditions of the convertible loan).
The holders of convertible loan that have committed to convert into shares are Trention AB (SEK 7,000,000), Formue Nord Marknadsneutral A/S (SEK 3,485,866), Dividend Sweden AB (SEK 2,600,000), Qualcon AB (SEK 1,249,998.75) and Crafoord Capital Partners AB (SEK 820,000). The conversion will significantly improve SpectrumOne’s financial position as the nominal amount to be repaid at maturity decreases from SEK 17 million to approximately SEK 2 million.
- It is very gratifying that our largest convertible holders show great confidence in the company's development and are now converting their convertible loan into shares at a price of SEK 3.07 , says SpectrumOne’s CEO Hosni Teque-Omeirat.
For further information contact:
Hosni Teque-Omeirat
CEO
+46 70 225 18 77
hosni@spectrumone.com
Certified Adviser:
Mangold Fondkommission AB (556585-1267)
Box 55 691 102 15 Stockholm
Telefon: +46 8 503 015 50
ca@mangold.se
www.mangold.se
SpectrumOne AB (publ) is obligated to publish this information under the EU Market Abuse Regulation. The information was provided by the above contact person's auspices, for publication on November 15, 2020 at 08.40 a.m. CET.
About SpectrumOne AB
SpectrumOne is a leading technology company delivering an advanced Data Management, Analytics & Communications platform suite. Offered in a SaaS online service shipping with rich market data from various professional providers, SpectrumOne provides a unique solution to many leading actors across industry segments in various countries. Enabling clients with fast and easy access to data insight and visualization coupled with powerful search, segmentation, and mapping features. SpectrumOne allows data to be quickly enabled and operationalized, driving activities from customer communication to data science supporting business analysis, strategy, and growth. All of which can be enabled the same day with immediate results. SpectrumOne´s headquarter is based in Stockholm, Sweden, responsible for Nordic sales and strategy, with additional sales and business development located in Oslo, Norway. SpectrumOne is listed on Nasdaq First North Growth Market in Stockholm. www.spectrumone.com