Acroud AB (publ) ("Acroud" or the "Company") has, following a book building process, successfully placed SEK 225 million of senior secured floating rate bonds to investors in the Nordics and continental Europe (the "New Bonds").
The New Bonds will have a tenor of 3 years, carry a floating rate coupon of 3m STIBOR (floored at 50 bps) + 950 bps per annum and were issued at 95.00 per cent of par. Proceeds from the transaction will be used to repay the Company's outstanding SEK 300 million bond (ISIN: SE0010297572) (the "Existing Bonds") and for general corporate purposes. As of this press release date, the Company owns SEK 115.5 million out of the total SEK 300 million Existing Bonds.
Acroud also initiates early redemption of the Existing Bonds and will send a redemption notice on 21 June 2022 to all directly registered owners and registered authorised nominees in the debt register for the Existing Bonds kept by Euroclear Sweden as of 20 June 2022. In accordance with the terms and conditions for the Existing Bonds, the Existing Bonds will be redeemed at an amount equal to 103.00 per cent of the outstanding nominal amount plus accrued but unpaid interest on the redemption date which is set to 18 July 2022. The redemption amount will be paid to each person who is registered as an owner of Existing Bonds in the debt register maintained by Euroclear Sweden at the end of business day on 11 July 2022 (the record date). In connection with the redemption, the Existing Bonds will be delisted from Nasdaq Stockholm.
The settlement of the New Bonds will take place on 5 July 2022. The New Bonds are expected to be admitted to trading on Nasdaq Stockholm within 6 months after the issue date and on any regulated market or MTF as soon as practicable.
"We are very pleased to have placed a new bond issue in a period with very uncertain market conditions and would like to express our gratitude to both our existing as well as new bondholders taking part in the transaction. With this financing in place, we are now able to keep delivering on Acroud's strategic agenda and are excited about the Company's journey ahead", comments Robert Andersson, CEO of Acroud.
Pareto Securities acted as lead manager and sole bookrunner, and Gernandt & Danielsson acted as legal advisor in connection with the issuance of the New Bonds.
This information constitutes inside information that Acroud AB (publ) is required to disclose under the EU Market Abuse Regulation 596/2014. The information in this press release has been published through the agency of the contact persons below, at the time specified by Acroud AB’s (publ) news distributor Cision for publication of this press release. The persons below may also be contacted for further information.
For further information, please contact:
Robert Andersson, President and CEO
+356 9999 8017
Roderick Attard, CFO
ACROUD AB (publ)
From August 2021 (Q221 Report) report Acroud has changed reporting and company language to English. This means that onwards press releases will only be communicated in English. However, Interim Reports and the correlated press releases will be issued in both English and Swedish, with the English version superseding the Swedish version.
About ACROUD AB
ACROUD is a fast-moving challenger in the space of iGaming Affiliation and B2B SaaS Solutions. Along with its core affiliate business, which contains 30+ comparison and news sites under strong digital brands in multiple verticals, Acroud develops and offers SaaS (Software as a Service) solutions within the affiliate industry. The company also provides streaming services and runs the innovative gaming event – The Festival Series. Following a number of mergers in 2020 and 2021, many talented industry experts have joined Acroud's journey, leading the organization towards a Software-Based Affiliation company. Driven by the sustainable growth and profitability of our partners, our mission is to connect People, Content Creators (Youtubers, Streamers, Affiliates) and Businesses. Acroud has been listed on the Nasdaq First North Growth Market under the ticker symbol ACROUD since June 2018. The appointed Certified Adviser is FNCA Sweden AB, [email protected], +46 8 528 00 399.