Amniotics receives loan of SEK 15 million to finance continued development and the start of a clinical trial
May 4, 2022
Amniotics AB (publ) has agreed to a loan agreement of SEK 15 million. The proceeds from the loan will be used to continue the development, and the existing operations in accordance with existing business plan until the end of 2022. The Company sees a short-term loan as the best financing alternative during current market conditions. Amniotics means to choose the path for the Company’s long-term financing at a later moment and they evaluate several suitable options.
The loans are issued from Modelio Equity AB (publ), and the larger shareholder Christer Fåhraeus, through Fårö Capital AB.
Summary of the loan terms:
- Loan from Modelio Equity AB (publ) of SEK 10 million, and from Fårö Capital AB of SEK 5 million.
- SEK 5 million from Modelio Equity AB (publ), and SEK 5 million from Fårö Capital AB will be paid out 15 June 2022 at latest. SEK 5 million from Modelio Equity AB (publ) to be paid out 15 July 2022 at latest.
- The loan from Modelio Equity AB (publ) matures 31 December 2022, and the loan from Fårö Capital AB matures 2 May 2023.
- A start-up fee of 5 percent and a monthly fee of 1.5 percent will be the compensation for the loans.
“Amniotics will enter an exciting period with the start of our clinical trial with PulmoStem™ in hospitalized Covid-19/ARDS patients where we hope show positive results from the study. This is our first clinical Phase I/II study in humans. To ease the clinical trial and to start as soon as possible, we have chosen to procure loans. We are delighted for the confidence from both an external part and from Christer Fåhraeus, who choose to loan capital to Amniotics.”
– Kåre Engkilde, CEO
Arctic Securities AS, filial Sverige is financial advisor and Setterwalls Advokatbyrå AB is legal advisor to Amniotics in connection with the loans.