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| Land | Sverige |
|---|---|
| Lista | Small Cap Stockholm |
| Sektor | Hälsovård |
| Industri | Medicinteknik |
Stockholm, Sweden (August 3, 2023) - IRRAS AB ("IRRAS" or the "Company") today announced an extension of its short-term financing agreement with Bacara Holdings, its second largest shareholder, which is led by Marios Fotiadis, the Company's Chairman of the Board of Directors. The total loan facility has been increased from SEK 40 million to SEK 60 million with the added amount paid immediately in a tranche of MSEK 20, and will continue to carry an interest rate in the amount of 6.00% on an annual basis.
The loan will fall due on 15 September 2023. Repayment of the loan will be secured by a pledge over the company's patents and the shares of the company's United States subsidiary, IRRAS Inc. In addition, IRRAS Inc. shall guarantee all obligations of IRRAS AB under the loan agreement, and IRRAS AB shall enter into a license agreement with IRRAS Inc. (which such agreement shall be collaterally assigned to the lender) under which IRRAS AB grants IRRAS Inc. an exclusive, royalty-free, fully-paid, irrevocable, perpetual license to all of IRRAS's intellectual property everywhere in the world other than Sweden, Denmark Norwayand Finland.
This disclosure contains information that IRRAS is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 04-08-2023 07:45 CET.