Workflow
Anoto Group AB has entered into a Convertible Loan Agreement to raise USD 750,000.
Globenewswireยท2025-04-29 06:30

Group 1 - Anoto Group AB has entered into a convertible loan agreement with two major shareholders, securing a loan of USD 750,000 to support the launch and marketing of its new digital pen and software platform "INQ" [1][2] - The loan will be repaid in twelve equal monthly installments starting from October 22, 2025, with a final maturity date of October 22, 2026, and will accrue interest at a rate of 10.00% per annum [1][3] - Lenders have the right to convert the loan amount, including accrued interest, into ordinary shares at a fixed conversion price of SEK 0.15 per share, which is a 66.67% premium to quota value [2][3] Group 2 - The loan is secured by a first-ranking floating charge of SEK 20 million over Anoto AB's assets and a share pledge over its shares in KAIT Knowledge AI Holdings Pte. Ltd. [3] - Anoto Group AB is a publicly held Swedish technology company known for its digital pen and dot pattern technology, focusing on intelligent pens, paper, and software that connect handwritten input to the digital world [5] - The company's core business includes 'inq' and 'Livescribe' retail products, as well as enterprise workflow solutions, aimed at enhancing productivity and creativity for users globally [5]