As was evident from the third-quarter report for 2023, published by Ekobot AB (publ) on November 24, the board of directors and CEO are actively working on measures to secure new financing at the latest by the end of the year to ensure ongoing operations. Against the background of negative feedback from one of the major existing shareholders in the current financing discussions, the board (in consultation with its financial advisor) assesses, however, that the prospects of acquiring new financing have significantly deteriorated, and the likelihood of finding a long-term solution by the year's end has diminished.
Efforts to secure the company's long-term financing and continued operations will persist without interruption. Concurrently, the board has initiated a review of strategic alternatives to traditional financing. Such alternatives may include a sale of the entire or parts of the business and/or the evaluation of structural transactions or strategic partnerships.
The current financial situation may result in the company not achieving the goal communicated in connection with the updated strategy earlier in the year.
