Aiforia Technologies Plc, Inside information, June 15, 2026 09:45 p.m. EEST
Inside information: Aiforia and the European Investment Bank agree upon a non-binding indicative term sheet for an up to EUR 20 million venture debt financing facility
Aiforia Technologies Plc ("Aiforia") and the European Investment Bank ("EIB") have today agreed upon a non-binding indicative term sheet for an up to EUR 20 million venture debt financing facility. Subject to the execution of a binding financing agreement, Aiforia plans to use the facility to expedite its product development initiatives related to existing and new image analysis solutions, as well as to accelerate its commercial operations.
Based on the term sheet, the planned EUR 20 million venture debt financing facility would be divided into three (3) tranches: EUR 5 million for the first tranche, EUR 7 million for the second tranche, and EUR 8 million for the third tranche. Disbursement under the various tranches would be subject to certain revenue and other milestones within predefined availability periods, which are all within 36 months from the signing of the binding financing agreement. Each loan tranche includes a three-year grace period and is amortized thereafter. The interest rates for the tranches are on market terms and comparable to those in similar financing arrangements. Each tranche matures seven years after its respective disbursement. The financing would also be subject to certain customary undertakings and covenants, including a restriction on any distributions of funds before repayment of the loan.
In addition to the pending negotiations and execution of a binding financing agreement, a prerequisite to drawing down the venture debt financing would be that Aiforia enters into a synthetic warrant agreement with the EIB. Synthetic warrants are a financing instrument typical for venture debt arrangements for growth companies, linked to the appreciation of the company's value. The warrants would be settled in cash by Aiforia upon their exercise in connection with certain trigger events, thereby avoiding immediate dilution of shares for shareholders. The term sheet stipulates that the EIB would receive synthetic warrants as consideration for each tranche of the facility. Synthetic warrants would be granted to EIB without cost upon the disbursement of each loan tranche in an amount corresponding to one-half of the loan principal available in the first tranche, forty percent of the loan principal available in the second tranche, and one-third of the loan principal available in the final tranche. In connection with the exercise of the synthetic warrants, the warrant strike price, which corresponds to 95 percent of the market price of the share preceding the time of issuance of each warrant tranche, would be deducted from the cash settlement amount payable by Aiforia.
"We are pleased to have reached this stage in our negotiations with the EIB. This type of venture debt financing would complement other financing options, such as equity investments, while limiting immediate dilution for existing shareholders. Upon its finalization, this facility would support us in advancing our strategic growth plans. It would allow us to accelerate diversifying our portfolio, expand our presence in Europe and other key markets, and further our commitment to revolutionizing patient care," says Jukka Tapaninen, CEO of Aiforia.
The venture debt financing negotiations are ongoing, and there is no assurance that the process will result in the execution of a final and binding financing agreement.
Further inquiries
Jukka Tapaninen, CEO, Aiforia Technologies Plc
tel. +33 61 041 6686
https://investors.aiforia.com/
Certified Adviser
UB Corporate Finance Ltd
ubcf@unitedbankers.fi
About Aiforia
Aiforia is a trusted provider of deep learning artificial intelligence (AI) solutions for pathology. Aiforia delivers advanced software solutions that elevate diagnostic capabilities in image analysis, empowering remarkable medical discoveries both today and in the future. With thousands of AI models developed for research use and several diagnostic solutions deployed, Aiforia is making a significant impact on pathology and healthcare. In Europe, Aiforia is the leading provider of CE-IVD marked AI-powered solutions for digital pathology.
Founded in 2013, Aiforia is a publicly traded company with a global presence and thousands of users worldwide. Headquartered in Helsinki, Finland, the company also operates subsidiaries in the United States and France, and maintains a network of local representatives across Europe and North America. Aiforia's diverse team includes experienced AI and software developers, pathologists, medical scientists, and a dedicated commercial team. Together, they are transforming pathology through AI, enabling better care for every patient.
Find out more at www.aiforia.com
