Enersize obtains a bridge loan to continue the implementation of the new SaaS business model

EnersizeOyj (“Enersize“or “the Company”) today entered into an agreement for a bridge loan in the total amount of 5 million Swedish crowns of two existing shareholders. The bridge financing gives the Board the opportunity to actively evaluate various alternatives for the long-term financing of the Company and allows the continued establishment and sale of the new business model.

Enersize has entered into a bridge financing agreement whereby the lenders, consisting of two shareholders of the Company, have agreed to provide loans and a credit facility totaling 5 million Swedish crowns. The bridge financing ensures the continued establishment and sale of the new business model and provides the Board with the opportunity to actively evaluate various alternatives for the long-term financing and optimal capital structure of the Company.

The Company has entered into bridge loan agreements for 5 million Swedish crowns with two shareholders in the Company; Staffansgården i Trää AB and Torsion Invest AB. The loans carry a monthly interest rate of 1% and the loans are due on October 31, 2022. Enersize has the right to repay loans plus interest in advance, in cash or in shares of the Company.

The respective lenders may require the Company to repay all or part of the loan plus interest with shares of the Company. This conversion will be effected by a directed issue of shares at a subscription price per share corresponding to a discount of 30% compared to the volume-weighted average price of the Company’s shares during a period of 10 days before conversion. In addition, the lenders benefit from a preferential right to act as guarantor for any issues that the Company may announce during the term of the loan.

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