Linkfire A/S has in December repaid DKK 7.7 million in debt as part of a long term ambition to strengthen Linkfires balance sheet and optimize cash flows. The debt repayment equals 21 percent of the Linkfire Group’s total debt and reduces Linkfire’s financial expenses by DKK 1.4 million on an annual basis.
As stated in the Prospectus in connection with Linkfire’s IPO on Nasdaq First North Premier Growth Market in June 2021, approximately 10 percent of the net proceeds from the offering was intended for repayment of parts of Linkfire’s debt. Linkfire has on December 9, 2021 repaid DKK 7.7 million in debt to the Danish Growth Fund. The debt repayment decreases Linkfire’s financial expenses by DKK 1.4 million, equal to 20% on an annual basis. The reduction in financial cost will be used to amortise on remaining loans.
Tobias Demuth, CFO of Linkfire, comments:
“Linkfire is committed to building a financially sustainable business for the long-term. This debt repayment is part of that ambition, strengthening our balance sheet and optimizing cash flows which gives us more financial flexibility as we continue our growth journey.”
Anders Christian Andersen, Senior Director in Danish Growth Fund’s loan department:
“We have had a strong and long-term partnership with Linkfire the past years. We have worked with Linkfire since its first VC round in 2015 and have seen a continuous maturation of the company since then. We look forward to seeing what the future brings for Linkfire.”
For further information, please contact:
Tobias Demuth, CFO, Linkfire A/S
Telephone: +45 26 88 99 53
About Linkfire A/S
Linkfire is the world’s leading SaaS marketing platform for the music and entertainment industries. Linkfire’s offering consists of two solutions: the Linkfire SaaS Marketing Platform for labels and artists and the Linkfire Discovery Network connecting consumers to music products through apps and partner websites. Linkfire’s platform has over 85,000 users, including the vast majority of the top 100 Billboard artists and largest record labels. In 2020, 1.5 billion consumers were connected through Linkfire and the company’s revenue amounted to DKK 24.7 million, corresponding to a year-on-year growth of 43 percent. Linkfire has more than 80 employees and is headquartered in Copenhagen, with additional offices in New York, Los Angeles, Lisbon and Accra. Linkfire (“LINKFI”) is listed on Nasdaq First North Premier Growth Market, Sweden. For further information, please visit: https://investors.linkfire.com/
Aktieinvest FK AB
Telephone: +46 739 49 62 50