Stockholm, Sweden– 17th May 2021 – Cyber Security 1 AB (publ) (the “Company”) (“CYBER1”) (Nasdaq First North: CYB1) announces that it today has secured operating capital towards the ongoing restructuring process.
The loan, of in total €500,000, to the Company is undertaken by existing shareholders, Marlo Finance B.V., KAV Invest Holding AG, JFG Capital B.V. and Ramphastos Participaties Coöperatief U.A. at a fixed interest rate of 10%.
The loan amount and interest is to be repaid by the Company in full within ninety calendar days. The lenders shall have the right, instead of cash repayments, to set off the loan claims against new shares and warrants on terms equal to the planned rights issue broadly outlined in a press release on 11th May 2021, where the rights issue is subject to certain developments around the composition filing and shareholders’ approval at an extraordinary shareholders’ meeting.
The loan will constitute general rights of priority (Sw. allmän förmånsrätt) according to the Rights of Priority Act (Sw.förmånsrättslagen). Administrator Marcus Wenner, of the corporate restructuring proceedings, has approved the taking on of the loan by the Company.