The Board of Directors of RightBridge Ventures Group AB ("RightBridge" or the "Company") has decided to procure a credit facility for a total of c. SEK 5M to enable a faster process of scale-up and transformation in both existing and new acquired portfolio companies.
The Board continuously evaluates suitable financing options in order to secure the Company's strategy in a shareholder-advantageous manner and at the same time increase and accelerate the synergies and scale-up opportunities identified within the portfolio. Overall, the Board of Directors has made the assessment that the terms of a credit facility are market-based.
Conditions
- Loan agreements with Venzo Holding A/S and NEBBEGÅRD INVEST A/S, current shareholders of the Company, of SEK5 million are at the Company's disposal as of 01.12.2022.
- A credit up to approx. MSEK 3.7 runs until September 1, 2023, with an annual interest rate of 5%. Furthermore ca. MSEK1.3 are available to the Company with a maturity date of 30 September 2024 and an annual interest rate of 15%. No other costs or securityare associated with the facilities.
- In the event that RightBridge carries out an issue of shares during the term of the loan, it is possible for the lender to offset all or part of the loan on the same terms as for the other subscribers in such issue.
"We are reluctant to slow down the pace right now in our portfolio companies' transformation processes to profitable growth. With this financing arrangement, we create better flexibility and give us a better exit to evaluate possible acquisitions", says Carlos Barrios, CEO of RightBridge Ventures Group AB.
This information is information that RightBridge Ventures Group AB (publ) 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 28.11.2022.
For further questions, please contact:
Carlos Barrios - CEO RightBridge Ventures Group AB
Telefon: +46 705 112579
E-post: carlos.barrios@rightbridge.se
RightBridge Ventures is a compounder and investment company based in Stockholm (Sweden) dedicated to investing in companies that shape the future of esports and gaming as part of the digital media and entertainment industry. For more information visit www.rightbridge.se or get updates by following us on Twitter on Instagram and LinkedIn.
RightBridge Ventures Group AB (publ)'s shares are traded on the Nasdaq First North Growth Market and Amudova AB is a Certified Adviser.
