Improved liquidity with latest debt financing

Cereno Scientific has bolstered its liquidity position through a SEK25m loan facility secured from new Danish investors Venusat and SAJ Finans. Concurrently, the company executed an addendum to its November 2024 financing agreement with Fenja Capital and Arena Investors, enabling early access to the SEK50m conditional second tranche, previously contingent on regulatory and financial milestones related to CS1. Additionally, management confirmed that SEK25m of the SEK75m convertible debt from the original facility has been converted into equity, a move we view as positive given the expected reduction in interest expenses and overall debt burden. While we will incorporate revised forecasts in future updates, we note that the SEK50m tranche...