Hoylu AB (publ) announced that it has received gross proceeds of SEK 7,100,000 in convertible loan notes on May 2, 2022. The transaction included participation from existing investors Alden AS, Camelback Holding As, other investors Bimo Kapital AS, Torsen Tankers & Towers As, Onetwo3 AS, Norse Partners As, Erling Johnsen AS, Frenisa AS, KES AS and returning investor Helling Invest AS. The convertible loan matures on October 31, 2022 and bears an annual interest rate of 6%.

The conversion price is set at SEK 1 per share. The transaction has been approved by board of directors and annual general meeting of the company.