Learning to Sleep raises new capital

The digital sleep clinic Learning 2 Sleep L2S AB (publ) strengthens raises new capital through a convertible loan, where SEK 2 million is guaranteed from two of the major owners. The loan, which runs for 18 months, can be converted into shares after 12 months at the strike price of 1.60, which corresponds to 200 percent of the current market price.

In connection with the organizational change carried out at the Company, the board has also decided to strengthen financials through a convertible loan aimed at the current owners. The loan runs in 18 months with an interest rate of 8 percent and the option to convert to shares after 12 months at a predetermined rate of SEK 1.60 or alternatively participate in any future issues with a 30 percent discount. The company currently has binding commitments from 2 major owners for a total of SEK 2 million, with the ambition to bring in a few million more.
"We are very happy that some of our major owners believe in the Company," says CEO Micael Gustafsson. The funds we receive through the loan, in combination with the previously announced savings package, means that we now look positively at the future, even if many challenges remain. Now the full focus is on the Swedish market and achieving cash flow neutrality, which right now feels like the right way to go."

Datum 2022-08-17, kl 08:30
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