MIDAQ AB (publ) initiates a written procedure under its outstanding bond loan 2021/2026 with ISIN SE0017085319

MIDAQ AB (publ) (the ”Company”) announces that it initiates a written procedure (the “Written Procedure”) under its outstanding bond loan 2021/2026 with ISIN SE0017085319 (the “Bonds”) to, among other things, request the bondholders’ consent to extend the maturity date of the Bonds, removal of interest, removal or amendment of certain financial covenants as well as certain further amendments the terms and conditions of the Bonds, all as set out in the notice of Written Procedure. Furthermore, and as set out in the notice of Written Procedure, the Company contemplates to issue super senior bonds in an amount of SEK 40 million (the “Super Senior Bonds”) to be offered all holders of Bonds pro rata to their holdings of Bonds. The Super Senior Bonds will share the same security as the Bonds pursuant to an intercreditor agreement to be entered into between, amongst others, the Company and Nordic Trustee & Agency AB (publ). Super Senior Bonds in an amount of SEK 20 million will be used towards repurchase and roll-over of the Bonds. A condition for the amendments to become effective, will be that an equity injection in the amount of SEK 15 million is made to the Company by its shareholders.

The Company has today instructed Nordic Trustee & Agency AB (publ) (the “Agent”), in its capacity as agent under the Bonds, to send a notice of Written Procedure including voting instructions to the direct registered owners and registered authorised nominees of the Bonds in the Company’s debt ledger held with Euroclear Sweden as per 2 December 2024. The notice of Written Procedure is available on Company’s website.

The Company has received voting indications in favour of the request in the Written Procedure by holders representing in excess of 66 2/3 of the outstanding nominal amount under the Bonds.

The outcome of the Written Procedure will be announced by way of press release in connection with the expiration of the Written Procedure. The record date for voting in the Written Procedure falls on 5 December 2024 and the deadline for voting is 15:00 (CEST) on 20 December 2024. The Written Procedure may be terminated before the expiry of the deadline if quorum is reached and a requisite majority has been obtained, or if the Written Procedure has been withdrawn by the Company.

For further information, please contact: 

Stefan Engdahl VD/CEO
 +46 70 269 10 80
stefan.engdahl@midaq.se

Madelene Blom CFO
+46 70 923 45 31
madelene.blom@midaq.se

This information is information that MIDAQ AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on 3 December 2024 at 17.50 CEST.