Konsolidator secures a binding long-term loan offer of DKK 15.5 million and finalizes total financing of DKK 34 million (inside information)

Company announcement no. 12-2023

Copenhagen, June 1, 2023

Konsolidator secures a binding long-term loan offer of DKK 15.5 million and finalizes total financing of DKK 34 million

Today, Konsolidator received a binding long-term loan offer of DKK 15.5 million, fulfilling the conditions for the DKK 18.5 million in private placement. With the DKK 15.5 million and the private placement, Konsolidator has reached total financing of DKK 34 million. DKK 4 million more than expected. The board of directors has approved, that the loan agreement is accepted.

Konsolidator announced on March 29, 2023 (see company announcement no 8-2023) the commitment of DKK 18.5 million, contingent upon fulfilling the condition of reaching minimum financing of DKK 30 million. With DKK 34 million, the requirements have been met for the private placement to be finalized. With 4 million more than the DKK 30 million announced, improving the capital base even further. With the net proceeds from the total financing of DKK 34 million, Konsolidator will have sufficient funds to repay the loan from Formue Nord and finance the operations during 2023.

The long-term loan of DKK 15.5 million is divided with DKK 8 million coming from 2L Kapital A/S and DKK 7.5 million coming from Denmark’s Export and Investment Fund (EIFO) formerly Vækstfonden. The loan is set to be repaid over 6 years, with the first two years exempt from repayment. Interest payments are paid quarterly. The interest rate is CIBOR3 plus 10.5 %. The loan providers will receive a company charge of DKK 15.5 million from Konsolidator as collateral for the loan. Further, Konsolidator will issue 482.565 warrants to the loan providers The final conditions on the warrants such as strike, will be informed when warrants are issued.

CEO Claus Finderup Grove comments, "We are pleased to have reached a sustainable agreement with 2L Kapital A/S and EIFO. With 2L Kapital A/S we have a partner that can provide know-how to Konsolidator's continuous global growth journey. With EIFO we get a stable partner that understands SaaS growth companies and we look forward to a fruitful cooperation with both the loan providers and the new equity investors.

Contacts

• CEO: Claus Finderup Grove, mobile [phone], [e-mail]
• CFO: Jack Skov, mobile, [phone], [e-mail]

Certified Adviser

• Grant Thornton, Jesper Skaarup Vestergaard, phone [phone], http://www.grantthornton.dk
  
  

About 2L Kapital A/S
2L Kapital, founded in 2023 by 2L Holding and led by CEO/CIO Mads Møller, is a Danish investment company specializing in active ownership through direct investments in Danish small cap companies. The investment strategy centers on identifying and supporting innovative concepts, ideas, and individuals with the capacity to drive transformative change within their respective industries. As highly engaged active owners, we foster close collaboration with our portfolio companies, unlocking their maximum potential in terms of value creation, sustainable growth, and profitability. We have a hands-on approach, merging the patience and long-term perspective of a family office with the drive, professionalism, and integrity of a private equity investor.
Our primary focus is on partnering with Danish small cap companies with revenues ranging from DKK 15-150 million. By providing them with comprehensive support, capital, and expertise, we aim to unlock their full potential.

About Konsolidator
Konsolidator A/S is a financial consolidation software company whose primary objective is to make Group CFOs around the world better through automated financial consolidation and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a vital part of strategic decision-making. Konsolidator was listed at Nasdaq First North Growth Market Denmark in 2019. Ticker Code: KONSOL

Attachment

• Konsolidator Company announcement no 12-2023