Today, AND International Publishers NV is pleased to announce that it has reached a definitive agreement with a group of investors with respect to a convertible loan as communicated in the previous press release dated 27 December 2019.

As a result of increased interest amongst the investors, the amount of the loan has been raised to €1.15 million. The loan bears an interest of 9% p.a. (of which 3% cash and 6% PIK) and is secured by a.o. a pledge on the IP owned by AND as well as a pledge on shares of a subsidiary. Furthermore, the loan has a duration of 2 years and is convertible during this period into ordinary AND shares at a conversion price of €1.85 per share.

With this financing now secured, AND is confident that it will be able to deliver on its strategic objectives.