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TargetEveryone to achieve positive cash flow by loan agreement amounting to 10 million SEK with largest shareholder
Targeteveryone has signed loan agreement with largest shareholder Jörns Bullmarknad amounting to 10 million SEK in order to achieve positive cash flow. The yearly interest rate is 10 % and the loan will be paid out in instalments until March 31, 2020. In connection with the final disbursement, the loan will be set off against a directed issue of convertibles totalling 10 million SEK plus accrued interest. The convertible bonds carry a 10 % annual interest rate and can until March 31, 2022, be converted into shares in TargetEveryone AB at the price of 1 SEK per share. This loan replaces the loan from the Norwegian financial institute the company announced it would have raised.
“We are pleased to get this financing on attractive terms from our largest shareholder, which shows a strong belief in TargetEveryone’s future. This is a major step for us becoming strong enough to really execute our plan. It gives us the foresight needed to take every strategic step to grow, partner with the best and thus become number one Martech company in Europe. We already had the solution to do so, now we also have the financial capabilities to act towards it. This gives us the potential to fund the current operating plan and achieve a positive cash flow during next year” says CEO Hosni Teque-Omeirat.
For further information contact:
+46 70 225 18 77
Mangold Fondkommission AB (556585-1267)
Box 55 691 102 15 Stockholm
Telefon: +46 8 503 015 50
TargetEveryone AB (publ) is obligated to publish this information under the EU Market Abuse Regulation. The information was provided by the above contact person's auspices, for publication on December 19, 2019 at 12.25 a.m. CET.
TargetEveryone is a MARTECH company, enabling our clients to streamline their 1-1 digital marketing, content and experiences within one SaaS online platform. Our unique solution makes marketeers able to easily target exactly the customers they want, and communicate with them in the channels they prefer, to maximize ROI. Our clients can easily segment their customers based on CRM data, market data and transactional data. Further, they can use a campaign editor to quickly build campaigns, and distribute these through our multichannel distribution system either by Email, SMS or SMS landing pages. TargetEveryone´s headquarter is in Oslo, with branch offices in Sweden, Holland and USA. TargetEveryone is listed on Nasdaq First North Growth Market in Stockholm and Merkur Market in Oslo.