Audientes: focused strategy and initial funding in place
Company Announcement 18-2023
May 31, 2023
Audientes A/S (CVR 36047631) today announces that it has secured a new convertible loan of DKK 750,000 from existing lenders as part of its strategy focused largely on the Indian market.
Focused strategy: Audientes has formulated and have begun to execute on a highly focused strategy with its new exclusive partner Earkart in India as focal point. This translates to an opportunity to reach break-even in operations with total financing of less than DKK 5 million due to a cost-optimized operational approach. With this, Audientes will be fully focused on the creation of a successful partnership with Earkart that can become a formula for replication and growth in other interesting markets.
Funding in steps: As the first leg in its capitalization plan towards break-even, Audientes today announces that it has secured immediate funding represented by a new convertible loan of DKK 750,000 from existing lenders. The loan runs until September 30, 2023, with preferential (senior) status relating to prior debt. The loan carries an interest rate of 1 percent per month and is intended to be either set off for shares in a future capitalization, or to be repaid in cash.
For further information, please contact:
Steen Thygesen, CEO, Audientes A/S
Phone: +45 77 34 16 80
Email: [email protected]
Troels Torp, CFO, Audientes A/S
Phone: +45 77 34 16 80
Email: [email protected]
About Audientes A/S
Audientes A/S is a Danish hearing health company specializing in smart, self-fitting and affordable hearing aids and advanced hearables. Audientes’ unique hearing aid solution, Ven™ by Audientes, is available for purchase in the Indian and Nepalese markets. Companion by Audientes is an advanced hearable consumer electronics product that is commercially available in Europe.
Audientes’ mission is to make high-quality hearing aids and hearables for hearing improvement or hearing enhancement accessible to everyone who needs them globally. Audientes is listed on Spotlight Stock Market Denmark (AUDNTS) and headquartered in Copenhagen, Denmark with a subsidiary in Hyderabad, India.
For additional information please refer to the company’s websites, www.audientes.com, www.audientes.eu, or www.audientes.in.
This disclosure contains information that Audientes is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 31-05-2023 10:30 CET.