Hexicon AB (publ) announces three separate agreements that together will strengthen the company's financial position and its strategic development capacity - for both its technology and projects. An extension of the revolving credit facility, an increased loan and new tranche in the Nuveen development loan, and an MoU with Wallstreet Aktiebolag - a company in the Soya Group - for the intention to take an equity stake in the IP company.
Extension of existing credit facility
After a period of discussions with its lenders, Hexicon has successfully extended its revolving credit facility (RCF) by 24 months (30 June 2027). The agreement will continue under updated terms with a monthly PIK interest of 1.38% and additional fees. As part of the agreement, 116 million warrants, which can increase to 158 million warrants if Wallstreet Aktiebolag (Wallstreet) chooses not to convert part of their outstanding loan, will be issued with a strike price of SEK 0.40 per share and have a maturity of 36 months (1 July 2028). An EGM will be called to approve the issuance of warrants.
MoU with Wallstreet Aktiebolag
Hexicon has entered into a Memorandum of Understanding (MoU) with Wallstreet, part of the Soya Group, regarding the intention to convert approximately SEK 28 million of outstanding loans into an equity stake in the IP company Freia Offshore AB, which holds the patents of the Hexicon Group. The loan corresponds to 50% of the loan that Hexicon holds with Wallstreet as part of the credit facility referred to above. Upon conversion, Wallstreet is expected to hold 49% of the shares in the IP company, further strengthening the industrial partnership between the two parties. In relation to this MoU, Göran Öfverström, one of Hexicon's Board Members, will resign from the board to avoid any conflicts of interest.
Nuveen Infrastructure Partners increases loan commitment
Hexicon has secured an additional loan commitment of up to EUR 4.75 million from Nuveen Infrastructure, as an extension of the previously established financing agreement signed in May 2023. The new tranche, tranche E, is intended to finance corporate overhead and the continued development of priority projects. The capital will be made available in tranches, subject to project-related milestones. The terms and conditions remain aligned with the original facility, with a revised maturity date of December 31, 2026. Additionally, Hexicon's CEO, Marcus Thor, will provide a subordinated non-interest-bearing loan of EUR 20,000 to Hexicon. This loan will be repayable at a multiple of 5 or 10 times the principal amount, but only if the loan repayment to Nuveen reaches certain specified thresholds. The purpose of the loan is to incentivize the CEO, and the cost of this incentive will be borne by Nuveen.
These combined measures provide Hexicon with enhanced financial flexibility and reinforce the company's ability to execute its long-term strategy. CEO of Hexicon Marcus Thor, comments: "These agreements mark an important milestone for Hexicon. By securing financing and strengthening our industrial partnerships, we can now focus fully on our core business - the development of floating offshore wind projects. We are pleased with the continued trust from our lenders and partners, and I am confident that these steps will enable us to accelerate our strategy and create long-term value for our shareholders."
For more information, please contact:
Hexicon's Communications Department
communications@hexicongroup.com
About Hexicon
Hexicon is an early project developer in floating wind, opening new markets in deep water areas, and a technology provider with a patented floating wind design - TwinWind. The dual business model supports the world's transition to sustainable energy. Floating wind is an important part of the future energy mix. It can be deployed quickly and at scale, contributing to the electrification of society at large. Hexicon operates in several markets across Europe, Africa and Asia. Hexicon is listed on Nasdaq First North Premier Growth Market (ticker HEXI). Certified Adviser is FNCA Sweden AB.
www.hexicongroup.com
This information is information that Hexicon AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-09-19 18:00 CEST.
