- The company has entered a conditional loan agreement corresponding to
SEK 30 million from the Company’s major shareholder, which ensures the company's short-term liquidity. The loan constitutes a subscription commitment in the upcoming rights issue. As security for the loan,Azelio will pledge certain patents and patent applications. The loan is subject to approval by an extraordinary general meeting. Azelio 's Board of Directors intends to resolve on a rights issue of approximatelySEK 80 million to further strengthen the company's financial position. The rights issue is partly secured through the loan to the amount stated above.- The financing strengthens the Company's financial position and enables the Company to conclude negotiations on a strategic partnership that may include a significant commercial order as well as commercial and industrial cooperation.
Azelio continues the work to adapt its cost structure through, among other things, staff reductions. The measures, when fully implemented, are expected to reduce the Company's costs by approximately SEK 100 million on an annualized basis.- An extraordinary general meeting is intended to be held on
June 2, 2023 , to decide on approving the above-mentioned loan, amendment of the articles of association and reduction of the share capital in order to enable the board to make a decision on a rights issue. Notice of the extraordinary general meeting will be published separately.
The loan secures the company's short-term liquidity and is obtained through the issuance of collateral in the company's intellectual property rights. The loan constitutes a subscription and guarantee commitment in the rights issue and repayment will be made of the part of the loan, if any, that cannot be used for settlement in the upcoming rights issue. Guarantor compensation is not issued. The lender is the Company’s major shareholder, also board member, Kent Janér. The loan runs until
The strategic partnership is expected to include a significant order as well as both commercial and industrial cooperation. The strategic partner is an international major player with extensive ambitions in renewable energy. The negotiations on a long-term strategic partnership will take place in two stages where the parties share a common ambition to reach a declaration of intent during the summer and a final agreement in the autumn of this year.
At the same time
"To enable
An extraordinary general meeting is intended to be held on
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