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Anoto Group AB enters secured convertible loan agreement totaling USD 2.4 million to support execution of business plan
Globenewswireยท 2025-10-10 17:00
Core Points - Anoto Group AB has entered into a secured convertible loan agreement totaling approximately USD 2.4 million with a group of investors to support its business plan [1][2] - The loan will be disbursed in three tranches during October and November 2025, bearing an interest rate of 8% per annum and maturing on 1 October 2027 [2] - Lenders can convert the loan principal and accrued interest into shares at a fixed conversion price of SEK 0.06, with mandatory conversion upon a qualified equity financing of at least USD 3 million [3] Financial Terms - The loan is secured by a first ranking floating charge over Anoto AB amounting to SEK 20 million and a share pledge over Anoto AB's shares in KAIT Knowledge AI Holdings Pte. Ltd [4] - The agreement includes negative pledge and indebtedness restrictions, with certain portions of existing convertible investments and bridge loans set off against the new loan [4] Company Overview - 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 [6] - The company's core business lines include 'inq' and 'Livescribe' retail products, as well as enterprise workflow solutions, aimed at enhancing productivity and data capture [6] - Anoto is committed to high-quality design, software innovation, and customer experience to drive the next generation of digital writing [6]