Talkpool receives convertible loan
Talkpool has received the 2 million Euros convertible loan, as press released on the 1st of November 2019, from a Swiss private investor with very extensive experience within the global ICT industry. The loan carries zero percentage interest during the first two years and ten percent interest during the third and final year. The lender and the borrower have communicated an intention to exercise the conversion option within the next 12 months. The loan gives both the lender and the borrower the right to trigger a conversion as Talkpool’s traded share reach SEK 20 over 10 trading days.
The received convertible loan allows Talkpool to accelerate its IoT development. The cash will be used partly to develop own IoT solutions and partly to strengthen the sales and delivery capacity in Europe and the Middle East. An increasing part of Talkpool’s IoT spending is directed to software development. 600’000 Euros have been forwarded to Talkpool AB for investments in IoT development and strengthening of the organisation in Sweden.
Talkpool’s board is planning to strengthen the company’s balance sheet by converting loans and attracting additional investments during this year.
For more information, please contact:
Erik Strömstedt, CEO Talkpool
Tel: +41 81 250 2020
erik.stromstedt@talkpool.com
Talkpool provides IoT solutions and telecommunication network services globally. Through its cutting-edge technical expertise, long experience and agile business model, Talkpool offers global telecom vendors and operators high-quality services on short notice no matter the location. Talkpool offers end-to-end IoT solutions for smart buildings and cities with focus on environmental control, energy saving and damage prevention For more information, visit www.talkpool.com.