Linkfire A/S secures debt facility of up to DKK 22.5 million and waives second tranche of previously announced directed share issue

Linkfire A/S (“Linkfire” or the "Company") announces that it has secured a debt facility of up to DKK 22.5 million from Egor Romanyuk, managing partner of Maverick Capital Limited (“Maverick”). The Company therefore waives the second tranche of the previously announced directed share issue to Maverick, and thus Tranche 2 will not result in any further shareholder dilution, which has been a priority to the Company.

On 21 October 2022, Linkfire resolved to carry out a directed share issue to Maverick, ICS Investment Management LLC, and Kuok Meng Ru, Group CEO & Founder of Caldecott Music Group of 110,913,930 shares at a determined subscription price of DKK 0.4057 (approximately SEK 0.60) per share (the “Share Issue”). The proceeds of the Share Issue amounted to DKK 45 million securing the Company’s path to breakeven in 2023. The Share Issue is divided into two tranches of equal size, where Linkfire has the right to waive the second tranche if the Company is able to obtain financing at more favorable terms. Linkfire closed the first tranche on 12 December 2022 and has since then been working to clarify whether or not it would be possible to raise the second tranche on better terms.

Today, Linkfire announces that it has secured a debt facility from Egor Romanyuk, managing partner of Maverick, of up to DKK 22.5 million (equal to approximately SEK 34 million) with a monthly interest rate of 1.5 percent accruing on each draw of the facility, which the Company considers more attractive than a draw of Tranche 2. As a result, the Company waives the second tranche of the Share Issue. This financing results from a diligent process exploring both equity and debt options, and the Company is convinced that the best possible deal has been obtained.

The facility has a duration of 5 years. It is repayable in whole or in part in the interim in case of future equity or debt raises during the term of the loan.

Copenhagen, 9 May 2023
Board of Directors of Linkfire

For further information, please contact:
Tobias Demuth, CFO
Telephone: +45 27 84 44 68
E-mail: investors@linkfire.com

About Linkfire – Empowering Entertainment Discovery Everywhere

Linkfire makes entertainment marketing easy. We optimize impact, drive streams, increase ticket sales and recommend audio content to billions of fans and listeners on a global scale. Our SaaS marketing platform transformed music marketing and we are now building a global recommendation network for audio entertainment discovery to connect even more fans and listeners to the content they love. Linkfire’s customers and partners include most artists on Billboard’s annual Hot 100, all major music labels, global audio and music streaming services, social media apps and media publishers.

In 2022, Linkfire enabled 2.1 billion consumer connections and the company’s revenue amounted to DKK 52.6M, an annual growth of 56 per cent. Co-founded in 2014 and headquartered in Copenhagen, Linkfire today employs a global team with offices in New York and Los Angeles. Linkfire’s share (LINKFI) is listed on Nasdaq’s First North Premier Growth Market in Stockholm. Learn more about us on about.linkfire.com and more about our offering on linkfire.com. To keep up with our latest news, follow @Linkfire on LinkedIn and @getlinkfire on Twitter and Instagram.

Related documents