Sivers Semiconductors Enters Into A Loan Facility Agreement
Sivers Semiconductors AB has entered into a loan facilityagreement of up to SEK 100 million, of which SEK 50 million is paid out inOctober 2022.
The loan facility shall be used to strengthen the company'sliquidity reserve and for general corporate purposes which may include workingcapital and investments to promote continued organic growth. Outstandingamounts under the loan facility is due for payment September 29, 2023 andcarries a monthly interest rate of one percent. The company has the right torepay the loan early at any time.
“With this loan facility, we now see opportunities tocontinue building the company in major growth areas that we presented at thecapital market day this week, such as satellite communications and SiliconPhotonics. With a strengthened liquidity reserve, we can now actively addressthese very interesting markets, where there is a total addressable market ofapproximately SEK 10 billion over the next 7 years." says Anders Storm,President and CEO of Sivers Semiconductors.
Lenders are Modelio Equity AB and Exelity AB.