Hoylu secures short term financing and evaluates the possibility to carry out a private placement of equity or convertible debt
Stockholm, Sweden, September 14, 2021 – Hoylu has secured a loan of SEK 5 million and evaluates the possibility to carry out a private placement of SEK 20 million of equity or convertible debt with the objective of closing in October 2021. The Company intends to use the proceeds from the Private Placement to strengthen its working capital as well as finance its continuing operations. The terms of the SEK 5 million loan are in line with market; an establishment fee of 4% and an interest rate of 9% compounded annually.
Hoylu has in the past year continued to develop its collaboration board platform with specialized modules for agile work, pull planning and project management and integrated with broadly used tools like Jira and Agility. These product upgrades have been well received and validated by Hoylu`s enterprise customers. Hoylu has therefore decided to focus its sales and marketing resources towards construction and engineering where the momentum is increasing, and sales cycles are getting shorter.
For more information, please contact:
Stein Revelsby, CEO at Hoylu +1 213 440 2499 Email: [email protected]
Karl Wiersholm, CFO at Hoylu +1 425 829 2316 Email: [email protected]
About Hoylu
Hoylu’s visual collaboration technology empowers distributed teams to translate ideas into actions. Large enterprises as well as small and medium companies rely on Hoylu to run projects, programs, and initiatives across time zones and continents as seamlessly as when working in the same room.
For more information: www.hoylu.com
Try Hoylu for free: https://www.hoylu.com/signup/
Ticker symbol: Hoylu
Marketplace: Nasdaq First North Growth Market
Certified Adviser: Mangold Fondkommission AB +46 (0) 8 50 301 550, [email protected]
Publication
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 08:42 CEST on September 14, 2021.
