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Capital/Financing Update • Jun 15, 2022
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Capital/Financing Update
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Ad-hoc | 15 June 2022 12:00
Allterco JSCo provides American subsidiary Allterco Robotics U.S. with additional financing
Allterco JSCo / Key word(s): Financing
Allterco JSCo provides American subsidiary Allterco Robotics U.S. with additional financing
15-Jun-2022 / 12:00 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Publication of inside information according to Article 17 MAR
Allterco JSCo provides American subsidiary Allterco Robotics U.S. with additional financing
Sofia / Munich, 15 June 2022 – Allterco JSCo ( ticker A4L / ISIN: BG1100003166 ) (“Allterco” / “the Company”), a provider of IoT and smart home products based in Sofia, Bulgaria, announces the provision of additional financing (“the financing”) to its American subsidiary Allterco Robotics U.S. in the amount of USD 1.5 million. The Board of Directors has resolved to provide the financing partly as a capital increase against cash contribution in the amount of USD 0.5 million and partly as an additional cash contribution in the amount of USD 1.0 million, to be provided for a period of one year at an annual interest rate of 1.0%.
The financing will be used to expand the subsidiary’s U.S. sales force and to cover temporary cash requirements and additional working capital for the development of the business in the North American market.
The capital increase is subject to registration procedure according to the local applicable law.
For further information, please visit allterco.com .
Investor Relations contact
CROSS ALLIANCE communication GmbH
Sven Pauly
Phone: +49 (0) 89-1250903-31
Mail: [email protected]
15-Jun-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | Allterco JSCo |
| 103 Cherny Vrah Bldv | |
| 1407 Sofia | |
| Bulgaria | |
| E-mail: | [email protected] |
| Internet: | www.allterco.com |
| ISIN: | BG1100003166 |
| WKN: | A2DGX9 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin |
| EQS News ID: | 1375947 |
| End of Announcement | DGAP News Service |