Ortivus has secured a 10 MSEK credit line agreement with its principal owner

To strengthen its liquidity position, Ortivus has entered into a credit line agreement with its principal owner, Ponderus Invest AB.

The credit line agreement totals 10 MSEK, comprising 5 MSEK in previously provided bridging loans and an additional 5 MSEK in new credit space. Loans under this agreement have a fixed annual interest rate of 8%. Both the credit line and outstanding loans are due for repayment on August 30, 2024, with the option for the company to extend the loan period until December 30, 2024. 

The credit line agreement aims to strengthen Ortivus' liquidity, which was negatively impacted by the criminal cyber-attack in July 2023. Additionally, the agreement is intended to cover costs for short-term ongoing deliveries. 

As previously communicated, the cyberattack targeted one of Ortivus' subcontractors and affected some of the company's customers in the UK. A legal process is underway to recover lost revenue and accrued costs.