JonDeTech Sensors AB (publ) ("JonDeTech" or the "Company") has today entered into an amendment agreement (the "Amendment Agreement") to the financing agreement with Nordic Growth Opportunities 1 (the "Investor"), announced on 29 April 2023. As a result of the Amendment Agreement, JonDeTech secures a continued access to financing from Nordic Growth Opportunities 1.
As stated in the Company's press release of 29 April 2023, days when the Investor has traded for more than 20 percent of the daily volume of the Company's shares traded on Nasdaq First North Growth market are excluded from the calculation in determining the subscription price for shares issued under the financing agreement. By the Amendment Agreement, the 20 per cent threshold is increased to 25 per cent. No other changes have been made. Short selling is prohibited.
The Amendment is the result of negotiations at arm's length between the parties. The Amendment enables the Company to still access financing under the agreement even though some of the Investor's conditions under the financing agreement are not formally met.
As further detailed in the announcement dated 29 April 2023, JonDeTech has committed to call tranches for a minimum of SEK 6 million under the financing agreement. To date, SEK 4 million of that commitment has been utilised.
For more information, please contact:
Dean Tosic, CEO JonDeTech, phone: +46 73 994 85 70, mail: email@example.com
JonDeTech is a supplier of sensor technology. The company markets a portfolio of IR sensor elements based on proprietary nanotechnology and silicon MEMS. The nanoelements are extremely thin, built-in flexible plastic, and can be manufactured in high volumes at a low cost, which opens up for a variety of applications, such as temperature and heat flow measurements, presence detection, and gas detection. The company is listed on Nasdaq First North Growth Market. Redeye is the company's Certified Adviser. Read more at www.jondetech.se or see how the IR sensor works at www.youtube.com/watch?v=2vEc3dRsDq8.
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