CybAero Under Nasdaq Investigation for Rules Violation

Swedish unmanned systems manufacturer, CybAero is under a Nasdaq investigation for possible violation of rules related to its financing.

CybAero has received the first tranche of SEK 4.5 million of the financing solution between CybAero AB and the European High Growth Opportunities Securitization Fund ("EHGO").

The financing solution was announced on March 28, 2018, and was decided at the 'Extraordinary General Meeting' on April 26, 2018. The financing solution includes an amount of up to SEK 52.5 million in the form of thirteen convertible loans, a CybAero release said today.

The previous two payments of each 1 SEK million, announced on March 28, 2018 and April 11, 2018, are retained as bridge loans over future tranches 2 and 3.

Nasdaq has informed CybAero that an investigation has been initiated due to possible violations of rules.

The outcome of this investigation may lead to the matter is handed over to the Nasdaq Stockholm Disciplinary Board for further decision.