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Chordate Medical Holding AB's (publ) ("Chordate") has today procured bridge loans of SEK 7,125 million, in five different agreements, from the main owners Magnus Brandberg, Hawoc Invest AB, Sifonen AB, Bevaclean AB and related board member Tommy Hedberg. The purpose of the bridge loans is to strengthen the company's liquidity and working capital for the upcoming redemption period of warrant TO7. The loans can be offset against TO7, which is due to be redeemed in October 2021, but has a maturity of 12 months and is admitted at market rate.
"We have chosen to take advantage of a standing offer of support before the TO7 redemption period and believe that the time is now appropriate to strengthen our cash holdings. We are incredibly grateful for the support shown by the long-term owners - which is important in this type of enterprise," says Anders Weilandt, CEO of Chordate.
Information: This disclosure contains information that Chordate Medical Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person below, on September 7, 2021 at 08:15 a.m. CET.
Anders Weilandt, CEO email@example.com Telefon: +46 (0) 733 87 42 77
About Chordate Chordate Medical Holding AB (publ) is a medical technology company that for over ten years has developed, patented and CE-marked a new neuromodulation treatment technology for chronic nasal congestion (rhinitis) and chronic migraine. The company offers its product via distributors to clinics and hospitals in selected European markets, Israel and Saudi Arabia. Chordate Medical's share is listed on the Nordic Growth Market NGM - SME (ticker: CMH). Read more athttps://www.chordate.com/en/
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We are a Swedish medical technology company listed on NGM Nordic SME.
Chordate has spent more than 10 years developing the Kinetic Oscillation Stimulation, K.O.S, a technique for treating rhinitis and migraine. We have a patent on K.O.S in the EU and the United States, as well as many other countries.
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