Intellego reaches a record level of liquidity of SEK 50 million and significantly strengthens the balance sheet
Earlier today, Intellego announced a directed share issue to settle the remaining payment to the Daro Group sellers. Intellego could have covered this payment with its operating cash flow which, as previously communicated, continues to improve and at the time of writing, Intellego has approximately SEK 50 million in short-term liquid assets, consisting of cash in the bank and credit-secured receivables.
The Intellego board together with its bank and financing partner sees strong long-term value and growth opportunities hence the recommendation, in discussions with the Daro sellers, to settle the remaining payments to the Daro sellers via both a directed share issue and cash payments. As a majority of the payment is in Intellego shares we believe it is a strong indication of what the future holds for the group. A combination of settling the remaining payments to the Daro sellers, the directed share issue, the previously announced bank financing deal and improving operating cash flow, will all make Intellego's balance sheet significantly stronger and provide a solid base for the years to come.
In addition to reduced short-term liabilities, Intellego now has around SEK 50 million in liquid assets at its disposal, and the goal is to continue to build on this until the year's end at least.