Risk Intelligence announces that the Company is now fully funded to support the current strategy
Risk Intelligence A/S (“Risk Intelligence” or "the Company") today announces that the Company is fully funded to support the current strategy.
Further to the announcement of 22 May 2019, where the Company announced the Data and AI project and funding of the same. Risk Intelligence have decided not to be funded through “Vækstfonden” (The Danish Growth Fund) and bank facilities, but through a long-term loan totalling DKK 7 million from a group of private lenders, including existing shareholders. The Data and AI project is now funded by equity, through the capital increase finished 18 June 2019 and a consortium of lenders.
Risk Intelligence has now secured working capital in order to work towards set goals, in a cost and time-efficient manner, thereby strengthened the Company's financial position.
The Company’s EBITDA will turn positive in 2020, as promised at the IPO, and the positive impact of the Data and AI project will mean the loan will be paid back fully in two years (2021). In the mean-time interest only payments will be made on a quarterly basis. The non-convertible loan is based on arm’s length commercial principles, 12% interest annually with a guaranteed floating charge (“Virksomhedspant”)
In addition to the directed issues of shares and the loan, the company has a potential cash injection of up to DKK 7.1 million in terms of warrants being exercised during summer 2020. Warrants issued in relation to the directed issue of shares representing a value of DKK 3.4 million and employee warrants representing a value of DKK 3.7 million, all potential depend of the share price during summer 2020. *)
Hans Tino Hansen, CEO of Risk Intelligence says:
“Being funded to fully support our strategy is crucial to the Company. I am very pleased that our lenders have the trust and faith in the Company’s potential and our ability to perform and to execute on the strategy. Choosing not to use “Vækstfonden” is solely a matter of what is best for the company in both a cash and cost perspective. This is the most prudent thing to do and, in the end, what creates most value for our shareholders.”
*) See Press Release regarding share issue of 22 May 2019 and 10 July 2019 regarding employee warrants.
This information is information that Risk Intelligence A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out below, on 23 September 2019.
For further information about Risk Intelligence, please contact:
Hans Tino Hansen, CEO
Jens Krøis, CFO
Telephone: +45 7026 6230
Web page and social media:
Risk Intelligence A/S was founded in 2001 by Hans Tino Hansen. The company has evolved to become a prominent company in security risk management by delivering threat and risk assessments worldwide. Risk Intelligence operates and assists customers and partners from headquarters located north of Copenhagen, the office in Singapore as well as through representatives in Europe, Asia and North America. The business has been designed with international scalability in mind and the company is globally regarded as an expert in its field. Risk Intelligence provides the ‘Risk Intelligence System (MaRisk + PortRisk)’ which is a digital platform that allows clients to monitor global security risks and enables them to plan and implement missions in risk areas. Risk Intelligence is listed on the Spotlight Stock market [RISK]