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Conversion outcome of outstanding convertibles KV1 in Fuud AB

STOCKHOLM, 20 sep, 2021 14.00 CEST

On 1 Sep 2021, the possibility was opened for the holders of Fuud's convertible KV1 to convert held convertibles at the conversion rate of SEK 0.70, according to the terms communicated by the company on 22 April 2021. Of the company's outstanding convertible loan of SEK 84,999,993, a total nominal amount of SEK 81,499,993 has been reported for conversion, which corresponds to approximately 96% of the outstanding convertible loan.

Convertible loans and interest

After the conversion has been registered, the outstanding convertible loan will amount to SEK 3,500,000. The total accrued interest for convertibles reported for conversion during the period so far amounts to approximately SEK 2,000,383 and all holders have announced that they want to set off this accrued interest to shares. The accrued interest is converted into shares with a subscription price of SEK 1.32, corresponding to the volume-weighted average price for Frill's shares on Nasdaq First North Growth Market during September 13-17, 2021.

Shares and share capital

Through conversion of the nominal value of notified convertibles, 116,428,561 new shares will be issued. Furthermore, 1,515,442 shares will be issued by offsetting accrued interest. After rounding, the total number of shares in the company increases by 117,944,006 shares. Fuud's share capital increases by SEK 5,897,200.3 to SEK 18,565,558.9.

After registration of conversion has been completed and issue of new shares has been registered, the total number of shares in the company amounts to 371,311,178.

The annual interest cost for the company's convertible loans decreases by SEK 4,890,000 from approximately SEK 5,100,000 to SEK 210,000.

Remaining convertibles and conversion period

The remaining part of the outstanding convertible loan amounts to SEK 3,500,000 and falls due for payment on May 15, 2024, whereby it must be paid out by the company unless conversion has previously taken place. Holders of Fuud's KV1 have the right to demand conversion on an ongoing basis until the loan falls due for payment.

For further information, please contact:

Peter Blom, CEO Fuud AB

Tel: +46 706 555 698

Email: peter.blom@fuudunited.com

About the Fuud Group

With the vision of being the Nordic market leader in 2025, Fuud brings together a number of exciting Swedish brands within Functional Foods under one roof, in order to jointly challenge the existing players in one of the food industry's fastest growing categories.

Fuud is growing through a combination of organic growth and acquisitions with a strong focus on high-quality content, exciting innovations and attractive design. Fuud's goal is to offer new and better alternatives than those already on the market, and at the same time contribute to both better health and increased quality of life for the Nordic population.

With a naturally built-in forward-thinking spirit, a strong and motivated sales force and a number of experienced key players in management and the board, Fuud has created a balance between muscle, drive and experience. The Fuud Group currently has the following brands: iQ Fuel, Homie, Beijing8, Juica, Juice Culture, Bacoccoli, Frill, Nathalie's, Barfly and Bezzt of Nature.

The company is based in Stockholm and is listed on the Nasdaq First North Growth Market, short name Fuud. FNCA Sweden AB is the company's Certified Adviser. Tel. +46 (0) 8 528 00 399, email info@fnca.se

Source: Cision
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