COPENHAGEN, DENMARK /ACCESSWIRE/February 22, 2022/ Linkfire (STO:LINKFI)
Linkfire A/S repaid DKK 7.7 million of debt in December as part of a long-term ambition to strengthen Linkfire’s balance sheet and optimize cash flow. The debt repayment is equivalent to 21% of the Linkfire Group’s total debt and reduces Linkfire’s financial expenses by DKK 1.4 million on an annual basis.
As disclosed in the Prospectus in connection with Linkfire’s initial public offering on the Nasdaq First North Premier Growth Market in June 2021, approximately 10% of the net proceeds of the offering were intended to repay a portion of Linkfire’s debt. Linkfire. Linkfire repaid on December 9, 2021 a debt of DKK 7.7 million to the Danish Growth Fund. The debt repayment reduces Linkfire’s financial charges by DKK 1.4 million or 20% on an annual basis. The reduction in the finance cost will be used to amortize the remaining borrowings.
Tobias Demuth, CFO of Linkfire, comments:
“Linkfire is committed to building a financially sustainable business for the long term. This debt repayment is part of that ambition, strengthening our balance sheet and optimizing cash flow, giving us more financial flexibility as we continue our growth journey.
Anders Christian Andersen, senior director of the Danish Growth Fund’s loan department:
“We have had a strong, long-term partnership with Linkfire over the past few years. We have worked with Linkfire since its first venture capital round in 2015 and have seen continued maturation of the business since then. We look forward to seeing what the future holds for Linkfire.”
For more information, please contact:
Tobias Demuth, CFO, Linkfire A/S
Telephone: +45 26 88 99 53
E-mail: [email protected]
About Linkfire A/S
Linkfire is the world’s leading SaaS marketing platform for the music and entertainment industries. Linkfire’s offering consists of two solutions: the Linkfire SaaS marketing platform for labels and artists and the Linkfire Discovery network that connects consumers to music products through partner apps and websites. Linkfire’s platform has over 85,000 users, including the vast majority of Billboard’s Top 100 artists and major record labels. In 2020, 1.5 billion consumers were connected via Linkfire and the company’s revenue was DKK 24.7 million, corresponding to an annual growth of 43%. Linkfire has over 80 employees and is headquartered in Copenhagen, with additional offices in New York, Los Angeles, Lisbon and Accra. Linkfire (“LINKFI”) is listed on the Nasdaq First North Premier Growth Market, Sweden. For more information, please visit: https://investors.linkfire.com/
Aktieinvest FK AB
Telephone: +46 739 49 62 50
E-mail: [email protected]
THE SOURCE: Linkfire
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