Fuud AB (publ) announced that entered into an agreement to raise convertible loans through the issue of two convertibles with principal amounts of SEK 5.5 million and SEK 17.5 million, respectively, with maturities up to and including December 15, 2022 and January 15, 2024, respectively, on July 12, 2022. The transaction included participation from Formue Nord Fokus A/S, a fund managed by Formue Nord A/S. For the convertibles, Formue Nord Fokus A/S will purchase securities at a discount of 5% for SEK 5,225,000 and SEK 16,625,000, respectively for gross proceeds of SEK 21,850,000. Conversion can take place during the term of the loan at a conversion price of SEK 0.38 per share.

The issue shall take place no later than July 15, 2022.