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Anoto Group AB enters into USD 400,000 bridge loan agreement to accelerate growth of the INQ brand
GlobeNewswire News Room· 2025-08-21 06:00
Core Viewpoint - Anoto Group AB has secured a bridge loan of USD 400,000 from Achilles Capital AB to support working capital and accelerate the global expansion of its inq smartpen brand following a successful market release [1][3]. Financing Details - The bridge loan is structured as a promissory note that may convert into a convertible loan if Anoto secures at least USD 600,000 in new financing by September 14, 2025 [2]. - The loan carries an annual interest rate of 8%, accruing from the disbursement date until repayment or conversion [2]. - If the financing is not secured, the principal and interest will become immediately due [2]. Growth Strategy - The bridge loan is part of a structured financing roadmap aimed at supporting Anoto's near-term growth and broader funding initiatives [3]. - The funds will facilitate rapid scaling of production, distribution, and marketing for the inq smartpen line, which has garnered strong customer feedback [3]. - The CEO of Anoto highlighted the positive market reception of the inq brand, indicating a significant growth opportunity for the company [3]. Company Overview - Anoto Group AB is a publicly held Swedish technology company known for its digital pen and dot pattern technology [5]. - The company develops intelligent pens, paper, and software that connect handwritten input with the digital world, serving students, professionals, and organizations globally [5]. - Anoto focuses on high-quality design, software innovation, and customer experience to drive the next generation of digital writing [5].
Anoto Group AB has entered into a Convertible Loan Agreement to raise USD 750,000.
Globenewswire· 2025-04-29 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]