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Dignitana AB strengthens financial position with new loan
Dignitana AB, world leader in scalp cooling innovation, announces today that the Company has obtained a new loan provided by Union Business Leasing (UBL) with an amount of $1.5 million USD at market conditions.
“Our longstanding relationship with UBL has been a valuable resource as we navigate the uncertainties stemming from COVID-19, “said William Cronin, CEO Dignitana AB. “We are in the midst of executing on our aggressive growth strategy increasing both our number of installed systems and overall treatment revenue. Being ahead of our rollout plan is the driving force in our ability to obtain this and future funding. We continually monitor our financing options to ensure we are adequately funded. The UBL lending relationship provides us flexibility as we move forward and respond to market demand.
During this pandemic, the Company has undertaken a number of initiatives to reduce our overall operating costs to ensure we maintain maximum liquidity until the ongoing business environment becomes clearer. Facility partners continue to treat existing DigniCap patients and, with very few exceptions, are adding new patients as chemotherapy is essential and non-elective. New system deliveries have slowed however some sites are still accepting units and we are providing training online. To fully support customers remotely we have developed several digital resources. These will be further enhanced moving forward allowing the Company to perform new installations at a faster pace and more efficiently. As the pandemic evolves, we continue to work with our partners to find innovative ways for our mutual patients to access this vital therapy option with minimal disruption to critical workflows.
This announcement contains information that Dignitana AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, by the above contact, for publication at 15:45 CEST on 13 May 2020.
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Dignitana AB is the world leader in clinically superior scalp cooling technology. The company produces The DigniCap® Scalp Cooling System, a patented medical cooling device that offers cancer patients the ability to minimize hair loss during chemotherapy. FDA cleared since 2015, DigniCap provides continuous cooling with high efficacy, safety and patient comfort. Hailed internationally as a life-changing medical advancement for cancer patients, The DigniCap Scalp Cooling System was invented in 1999 by a Swedish Oncology nurse and has been available in Europe since 2001. Dignitana AB is listed on Nasdaq First North Growth Market in Sweden with headquarters in Lund, Sweden and operations based in Dallas, Texas in the United States. Company subsidiaries are Dignitana, Inc. in the United States and Dignitana S.r.l. in Italy. Learn more at www.dignitana.se and www.dignicap.com. Eric Penser Bank AB, Certified Adviser, Box 7405,103 91 Stockholm Phone: +46 8-463 83 00 firstname.lastname@example.org www.penser.se