Sivers Semiconductors AB (STO: SIVE), (the "Company"), a leading supplier of integrated chips and modules for the most advanced communications and sensor solutions, has, according to previous communication in connection with the 2023 fourth-quarter report, agreed to entered into a loan agreement with Formue Nord and partners extending the previous SEK 75 million facility. The new SEK 50 million loan facility includes a SEK 35 million convertible loan at a fixed conversion rate of 4.86 SEK, corresponding to 125% of the closing price for the Company's ordinary shares on Nasdaq Stockholm on 8 March 2023. The Company anticipates this financing, and its own cash flow will fully address funding for at least 2024, without the need for any further capital contributions from shareholders
The Company anticipates this financing, and its own cash flow will fully address funding for at least 2024, without the need for any further capital contributions from shareholders
Borrowings under the old and the new loan facility are due for repayment at the maturity date on 30 May 2025 and carry an interest rate of STIBOR 3M + 10%. The Company has the right to prepay the loan at any time.

Source prnewswire