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Hoylu AB (publ) carries out a SEK 7.1 million convertible loan notes issue and enters into loan agreement with Baklid Invest AS

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The Board of Directors of Hoylu AB (publ) (“Hoylu” or the “Company”) has, with support of authorization granted by the annual general meeting on 21 May 2021, carried out a directed issue of convertible loan notes corresponding to a value of SEK 7.1 million. Further, the Board of Directors has resolved to raise a loan from Baklid Invest AS amounting to SEK 3,000,000 with a 6 per cent interest per annum.

The convertible loan notes have been subscribed by Alden AS, Bimo Kapital AS, Helling Invest AS, Torsen Tankers & Towers AS, Camelback Holding AS, OneTwo3 AS, Norse Partners AS, Norse AS, Erling Johnsen A/S, Frenisa AS, and KES AS (the “Investors”). The reasons for the deviation from shareholders’ preemption rights are to raise capital in a cost and time effective manner on terms and conditions that are beneficial for the Company and its shareholders. The proceeds from the directed issue will be used to increase the Company’s working capital to enable continued operations and growth. The directed issue to the Investors has been carried out with support of the authorization granted at the annual general meeting on 21 May 2021.

The convertible loan notes mature on October 31, 2022 and carries an annual interest rate of six (6) per cent. The conversion price for new shares is set at SEK 1.00 and the holder of the convertible instrument has the right to ask for conversion of whole or part of its claim to new shares in the Company commencing on the date of the registration of the issue and up until October 31, 2022. Terms of the convertible loan notes issue, including the conversion price, have been determined following arms lengths negotiations with the subscribers. As a result, the board of directors of the Company considers that the terms of the convertible loan notes issue are in line with market conditions.

Upon on full conversion of the convertible loan notes in the directed issue to Investors (excluding accrued interest) the share capital will increase by approximately SEK 585,724 by issue of 7,104,934 new shares. The dilution for existing shareholders amounts to a maximum of approximately 7.2 per cent.

Short-term loan

The Board of Directors has resolved to raise a short-term loan from Baklid Invest AS (controlled by the CEO, Truls Baklid) amounting to SEK 3,000,000. The maturity date is set to October 31, 2022 and runs with a 6 per cent interest per annum.

For more information, please contact:
Truls Baklid, CEO, +47 924 38 900 Email: tob@hoylu.com
Karl Wiersholm, CFO at Hoylu +1 425 829 2316 Email: kw@hoylu.com

About Hoylu

Hoylu's Adaptive Workspace opens up a new way for teams to plan, build and engage --so they get the impact they want no matter the industry, department or time. Whatever your management or planning style, Hoylu fits the way you structure your team and integrates all the productivity tools you're already using. So, you easily plan and complete any project. And when it comes to the work itself, Hoylu gives your team the freedom to drag and drop anything from documents to presentations, and even video conferences. So, anyone can easily share and embed live files for the entire team to work on --all from anywhere, on any device.

For more information: www.hoylu.com

Try Hoylu for free: https://app.hoylu.com/

Ticker symbol: Hoylu
Marketplace: Nasdaq First North Growth Market
Certified Adviser: Mangold Fondkommission AB +46 (0) 8 50 301 550, ca@mangold.se

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This information is information that Hoylu AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:35 CET on May 02, 2022.


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