Stockholm, Sweden, September 14, 2021 – Hoylu has secured a SEK 5million loan and is evaluating the possibility of completing a SEK 20million private placement of equity or convertible debt with the goal of closing in October 2021. The Company intends to use the proceeds of the private placement to strengthen its working capital as well as to finance its continuing operations. The terms of the SEK 5 million loan are in line with the market; a start-up fee of 4% and an interest rate of 9% compounded annually.
Over the past year, Hoylu has continued to develop its Collaboration Board platform with specialized modules for Agile Work, Pull Planning and Project Management and integrated with widely used tools like Jira and Agility. These product upgrades have been well received and validated by Hoylu’s corporate customers. Hoylu has therefore decided to focus its sales and marketing resources on construction and engineering where the dynamics are accelerating and sales cycles are shortening.
Hoylu’s visual collaboration technology enables distributed teams to translate ideas into action. Large businesses as well as small to medium-sized businesses rely on Hoylu to run projects, programs, and initiatives across time zones and continents as seamlessly as when working in the same room.
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Ticker Symbol: Hoylu
Market: Nasdaq North First Growth Market
Certified advisor: Mangold Fondkommission AB +46 (0) 8 50 301 550, [email protected]
This information is information that Hoylu AB is obliged to make public in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the contact person indicated above, at 8:42 a.m. CEST on September 14, 2021.