Q-Linea

The Company's main owner Nexttobe AB ("Nexttobe") has offered a loan facility as set out below, subject to approval at the Annual General Meeting on 28 June 2024. The Company and Nexttobe are considered related parties since Nexttobe own approximately 53.52 percent of the shares in the Company, which means that the rules in Swedish Company Act (the “SCA”) chap. 16a if related party transactions need to be considered when using the loan facility.

• The loan facility amounts to maximum SEK 60,000,000, plus the loans that have been taken and are outstanding under the existing facility that was approved by the annual general meeting 2023 (see below).
• The interest is variable and charged with Swestr 3M + 4 percentage points. However, interest will not in any case be lower than 6%. The interest is calculated and paid quarterly in arrears.
• The facility shall be used as secondary financing where priority will be given, for example, to share issues, investments, asset sales, etc.
• Loan draw-downs can be made until 31 March 2025.
• Loans run until 30 June 2026, when they shall be repaid. The loans are amortization-free during the loan period. However, the Company has the right to amortize any amount during the term. If the loan is repaid early, accrued interest at the time of repayment shall also be paid by the Company.

At the Annual General Meeting on 13 June 2023, a loan facility from Nexttobe amounting to SEK 200,000,000, expiring on 30 June 2024, was approved. At the beginning of the financial year, SEK 41,500,000 remained to be used from existing facility. As of the date of this press release, loans of SEK 15,000,000 are outstanding under the existing facility (if additional loans are paid out during the notice period, this will be disclosed no later than at the Annual General Meeting). Remaining amount in the existing loan facility thus amounts to SEK 26,500,000. The loans that are outstanding under the Existing Facility as of the date of the Annual General Meeting are proposed to be transferred to the newly-proposed facility, which means that the proposed facility may exceed SEK 60,000,000.

Stuart Gander, President & CEO of Q-linea Group, said: “We are grateful that our main shareholder continues to support our business by providing us with the capital needed for our commercial ramp-up in pursuit of our overall goal of saving lives and slowing growth of antibiotic resistance.”