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Anoto Group AB has raised USD 250,000 pursuant to a second tranche under existing convertible loan agreement
Globenewswireยท 2025-06-20 20:00
Core Points - Anoto Group AB has announced the advancement of a second tranche of USD 250,000 under an existing convertible loan agreement [1] - The loan will be repaid in twelve equal monthly installments starting from October 28, 2025, with a final maturity date of October 28, 2026, and will accrue interest at a rate of 10.00% per annum [2] - The lender has the right to convert the outstanding 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 [3] - 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. [4] Company Overview - Anoto Group AB is a publicly held Swedish technology company known for inventing digital pen and dot pattern technology [6] - The company develops intelligent pens, paper, and software that integrate handwritten input with the digital world, focusing on products like 'inq' and 'Livescribe' [6] - Anoto's smartpens are utilized globally by various users, including students and professionals, to enhance productivity and data capture [6]