Nordic Unmanned informed that the company has now completed its announced strategic review through a refinancing with its lenders in combination with a Private Placement of NOK 70 Million in new equity, resulting in a sustainable financial solution for the company, visibility and flexibility. The agreement with the lenders includes a 5 year term for the bank debt, amortization holiday till mid-September 2025, interest accumulation till June 2024 and a margin reduction from 5% to 3.5%. Nordic Unmanned has been through a very challenging period with regards to liquidity and lower operating margins than expected.

Following the refinancing and recapitalization, the company is well placed to move forward with its focused strategy, continued improvement efforts, competent organization, multi-year contract portfolio, well positioned niche technologies and quality clients and partners. Through the equity raise, the company welcomes Tjelta Eiendom as a new investor and majority owner.