Acroud initiates a written procedure under its outstanding bond loan

Acroud AB (publ) (the “Company” or “Acroud”) announces that it has initiated a written procedure for the purpose of requesting a waiver for the mandatory prepayment to be made on 5 July 2024 under its outstanding bond loan 2022/2025 with ISIN SE0017562481 (the “Bonds”).

Acroud announces today that it has initiated a written procedure (the “Written Procedure”) among the bondholders under the terms and conditions of the Bonds (the “Terms and Conditions”), to request the bondholders’ consent for the Waiver (as defined below), by instructing Nordic Trustee & Agency AB (publ) (the “Agent”), in its capacity of agent under the Bonds, to send a notice of Written Procedure including voting instructions to the direct registered owners and registered authorised nominees of the Bonds in the Company’s debt ledger held with Euroclear Sweden as per 27 May 2024. All capitalised terms used herein and not otherwise defined shall have the meaning assigned to them in the Terms and Conditions.

Acroud is requesting in the Written Procedure that the bondholders approve a waiver for the Company’s obligation to repay ten (10) per cent. of the Initial Nominal Amount on the second anniversary of the Issue Date (being 5 July 2024) pursuant to Clause 11.4 (Mandatory Partial prepayment) of the Terms and Conditions (the “Waiver”). In exchange for the bondholders’ consent to provide the Waiver, the Company shall instead repay only five (5) per cent. of the Initial Nominal Amount (the “2024 Partial Prepayment”).

For more information regarding the Written Procedure and a more detailed description of the Waiver, please see the notice of Written Procedure on the Company’s website and the Agent’s website.

Furthermore, if the Written Procedure is successfully concluded, the Company shall pay a consent fee amounting to seventy-five (75) basis points of the Nominal Amount to all bondholders following the conclusion of the Written Procedure (the “Consent Fee”).

The outcome of the Written Procedure and, if the Written Procedure is successfully concluded, the relevant payment dates and record dates for the 2024 Partial Prepayment and the Consent Fee will be announced by way of a press release in connection with the termination of the Written Procedure. The voting record date is 4 June 2024 and the last day for voting in the Written Procedure is 17 Junes 2024. The Written Procedure may however be terminated before the expiry of the time period for replies if a requisite majority has been obtained.

Bondholders representing approx. 51.21 per cent. of the outstanding Adjusted Nominal Amount under the Bonds have agreed to vote in favour of the proposal in the Written Procedure.

For questions to the Agent regarding the administration of the Written Procedure, please contact the Agent at [email protected] or +46 8 783 79 00.

Responsible parties

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 person 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

 

Andrzej Mieszkowicz, CFO

+35699112090

 

ACROUD AB (publ)

Telephone: +356 2132 3750/1

E-mail: [email protected]

Website: www.acroud.com

Certified Adviser: FNCA Sweden AB, [email protected]

 

From May 2024 (Q1 Report) Acroud has changed reporting and company language to English. This means that Interim Reports and the correlated press releases will be issued in English only.

 

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.