My Beat has completed the first tranche in the financing agreement with Loft Capital. Tranche 1 comprises an interest-free convertible loan of SEK 1.9 million, of which SEK 1.75 million is paid in cash and SEK 150,000 is offset against agent fees.The company will use SEK 1.1 million for supplier payments, which according to My Beat entails debt write-downs of SEK 1.25 million. Additional debts of more than SEK 2.2 million are later planned to be converted into shares. The agreement allows for three additional tranches totaling SEK 3.75 million.Loft Capital has also been allotted 4.5 million collateral shares and thereafter owns 29.85 percent of My Beat. The ownership changes also mean that Olav Kalves' ownership stake has decreased from approximately 22.5 to 15.8 percent. After earlier market sales, Ida Selliseth Bakken's and Steffen Kalve's holdings amount to 4.82 and 1.59 percent, respectively, of the shares and voting rights.The collateral shares resulted in dilution of 29.85 percent. Upon full exercise of all warrants, the total dilution may amount to approximately 69.85 percent.