S2Medical AB (publ) announced the signing of a new loan agreement. This agreement replaces the previous one, which expired in December 2022. With this new financing structure, it is the company's intention that, after an initial repayment, a remaining loan debt of approximately SEK 8.1 million will be retained.

The loan carries a monthly interest rate of 3% until December 2023 and will be reduced to 1.5% thereafter. The agreement stipulates that a portion of the original loan will be repaid using funds from the cash received from the rights issue that the company is currently undertaking. The remaining part of the loan will be repaid through the cash from the subscription options that are due in 6, 12, and 18 months.

The company is expected to be debt-free by no later than the end of July 2024.