Consolidator enters into a convertible loan agreement with Formue

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Company announcement # 8-2021

Söborg, 21 July 2021

Consolidator included cconvertible loan agreement with Formue Nord will provide funding for future growth

On March 15, Konsolidator A / S (KONSOL.CO) announced that additional capital is required to accelerate its current go-to-market strategy and develop new sales channels. Consolidator today signed a conditional convertible loan agreement with Formue Nord Fokus A / S to finance the future growth of Consolidator and Development Department.

Konsolidator A / S (the “Consolidator” or “Company”) intends to use the proceeds to expand its sales group. In addition, part of the proceeds will go to development, the main themes of which are scalability and improved user experience, including the expansion of the development team in Poland. The loan agreement includes a convertible loan with a principal amount of DKK 25 million from Formue Nord to the Consolidator. The loan will be repaid in a lump sum and will be available to the Consolidator on September 1.st 2021. A commitment fee of 5.5% will be paid to Formue Nord, resulting in net revenue of DKK 23.6 million for the company. The interest rate is 8% per annum, payable quarterly. The Consolidator has the right to repay the loan at any time with 14 days’ notice. In this case, Formue Nord can choose to receive a cash payment or convert into shares. The loan matures on September 1.st 2023 g.

The loan grants Formue Nord the right, but not the obligation, to convert, in whole or in part, the loan into shares of the Consolidator at a price of DKK 25.00 per share. Consequently, if the total loan amount of DKK 25 million is converted into shares of the Consolidator at this share price, 1 million new shares will be issued, which corresponds to a par value of DKK 40,000. Should the Consolidator issue shares at a lower price prior to loan maturity or conversion, the share price at which Formue Nord can convert the loan into shares will be reduced accordingly.

The issue of a convertible loan is subject to approval at the general meeting of the Consolidator.

Following this announcement, the Consolidator’s board of directors will convene an extraordinary general meeting in August proposing to authorize the board of directors to issue a convertible loan.

Rasmus Wiggers, Investment Director and Partner at Formue Nord, commented: “We continue to see strong potential for value creation in the Consolidator’s strategy and plans for international growth. We are pleased to support this mission and are confident in the company’s ability to fulfill it. “

“We’re glad again get funding on an attractive level like us continue see increased demand in Consolidator software solution, which requires capital growth… With the launch of the Audit Consolidator® we expect additional strong growth in the audit segment in addition to growth to groups– concludes the CEO of the Consolidator Klaus Grove.

ABOUT Formue North

Formue Nord is an independent asset management company specializing in providing structured and customized finance solutions for small and mid-cap companies.

About Consolidator
Konsolidator A / S is a financial consolidation software company focused on improving the work of Group CFOs around the world through automated financial consolidation and reporting in the cloud. The consolidator, built by CFOs and auditors and powered by innovative technologies, removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data that become a vital part of strategic decision-making.

For more information: CEO Klaus Finderup Grove, mob. +45 2095 2988, email: cfg@konsolidator.com

Consolidator A / S
Vandtårnsvej 38A
2860 Søborg
www.konsolidator.com

Certified advisor
Grant Thornton
Stockholmsgade 45
2100 Copenhagen
www.grantthornton.dk



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