Ortivus announces intended allocation of proceeds from the proposed rights issue following agreement with the main shareholder on a new credit facility
2025-09-09 08:30
Ortivus announced in a press release on 25 August 2025 that the Board of Directors had resolved to propose to an upcoming Extraordinary General Meeting the implementation of a fully guaranteed rights issue of approximately SEK 54 million, with Ortivus’ main shareholder, Ponderus Invest AB, as guarantor. On the same day, the Board also convened an Extraordinary General Meeting to be held on 19 September 2025 to resolve on the rights issue. The purpose of the rights issue is to strengthen the balance sheet and equity ratio, reduce financial costs, and provide the Company with additional working capital to support operations and product development.
Furthermore, Ortivus announced in a press release on 26 August 2025 that the credit facility provided by Ponderus Invest to the Company had been increased to SEK 57.5 million following an agreement with Ponderus Invest. As of 26 August 2025, a total of SEK 47.5 million had been drawn under the facility.
Ortivus has now reached an agreement with Ponderus Invest regarding a new credit facility of SEK 20 million, conditional upon the completion of the proposed rights issue. Under this agreement, Ortivus will allocate part of the rights issue proceeds to repay the loan from Ponderus Invest to the extent necessary for the remaining debt to fall within the new SEK 20 million credit facility. Based on current assessments, Ortivus estimates that of the total net proceeds of approximately SEK 52 million, after deduction of transaction costs, SEK 37 million will be used to amortise the loan from Ponderus Invest. The remaining proceeds are expected to be allocated to working capital (SEK 7 million), further product development (SEK 4 million), and market initiatives within the e-health segment (SEK 4 million).