Press release from Companies

Publicerat: 2023-08-31 13:30:00

Audientes A/S: Audientes A/S prolongs bridge loan which, subject to authorization from the coming EGM, will be refinanced to a convertible loan, with no interest and instalments due for 12 months

Company announcement no. 28-2023
August 31, 2023


Audientes ("Audientes" or the "Company"), CVR 36047631, has reached an agreement to prolong the existing bridge loan originally secured in Q1-2022, which will amount to DKK 5.77 million incl. accrued interest at the end of September 2023.


The loan is expected to be further prolonged until the end of September 2023, with the current terms and interest of 2% per month. Audientes will at the forthcoming extraordinary general meeting (EGM) to be held on September 14, 2023 seek the necessary authorization for agreeing to the refinancing of the current loans whereby it is expected to be prolonged until end September 2024 as a convertible loan, with no interest and no instalments due in this period.


The options for the lenders to convert the loan to equity at certain times will be included in the new loan agreements and is expected to take place in conjunction with:-


(1) the publishing of Audientes' quarterly and annual reports. The conversion rate will be calculated using the Volume-Weighted Average Price method (known as VWAP) over 10 trading days starting from the day following publication;


(2) with emissions to others (directed and rights issues). 


The refinancing of the bridge loan is expected to be agreed to with the existing lenders immediately after the EGM to be held on September 14, 2023.


For further information, please contact:


Steen Thygesen, CEO, Audientes A/S

Phone: ‭+45 77 34 16 80‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬

Email: st@audientes.com


Troels Torp, CFO, Audientes A/S

Phone: ‭+45 77 34 16 80‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬

Email: tto@audientes.com


About Audientes A/S

Audientes A/S is a Danish hearing health company specializing in smart, self-fitting and affordable hearing aids and advanced hearables. Audientes’ unique hearing aid solution, Ven™ by Audientes, is available for purchase in the Indian market. Companion by Audientes is an advanced hearable consumer electronics product.


Audientes’ mission is to make high-quality hearing aids and hearables for hearing improvement or hearing enhancement accessible to everyone who needs them globally. Audientes is listed on Spotlight Stock Market Denmark (AUDNTS) and headquartered in Copenhagen, Denmark with a subsidiary in Hyderabad, India.


For additional information please refer to the company’s websites, www.audientes.com, www.audientes.eu or www.audientes.in.


This disclosure contains information that Audientes is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 31-08-2023 13:30 CET.

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