Clavister holds talks with EIB for EUR 20 mln financing, plans to issue warrants

Thursday 9 November 2017 | 12:20 CET | News

Network security provider Clavister said it is in negotiations with the European Investment Bank (EIB) over a potential financing agreement of up to EUR 20 million in several tranches. If successful, this would give Clavister the funding to pursue its development of what it called "innovative" cyber-security products and platforms.

As a part of the loan agreement, it is foreseen that Clavister will issue warrants, in addition to interest payments, to the EIB. The company is aiming to finalise the negotiations prior to the Extraordinary General Meeting on 11 December.

The agreement is subject to approvals being obtained by both parties and successful financial negotiations. Upon completion of the deal, Clavister would realise its comprehensive financing package, which includes recent financing by Tagehus Holding. Together, these two financing organisations create a complementary and synergistic investment of up to SEK 250 million, said Clavister.

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