Taptravel Nordic AB (publ) informs on continued liquidity problems, that the company has incurred new debt in breach of the bond terms, and is preparing for a new share issue
Background and current liquidity shortfall
As announced in a press release on 10 July 2026, Taptravel Nordic AB (publ) ("Taptravel" or the "Company", and together with its subsidiaries, the "Group") obtained an advance of SEK 10,000,000 and a bridge loan of SEK 1,300,000, with the aim of covering part of the most critical liquidity shortfall. The Group has since then continued to experience liquidity problems and, following the identification of acute liquidity problems during July this year, has held constructive discussions with certain of the Company's shareholders to find a temporary solution for the Group’s financing and capital structure.
Unlike what was stated in the press release of 30 June 2026, the Company expects that payment of the interest on the super senior bonds (ISIN NO0013699975) that fell due for payment on 3 July 2026 will not be made until September this year, following completion of the planned new share issue (see below). It is also noted that the press release of 30 June 2026 contained incorrect references to the ISIN and the interest payment date. The press release referred to ISIN NO0013326041, whereas the correct ISIN is NO0013699975, and to 2 July 2026 as the interest payment date, whereas the correct interest payment date is 3 July 2026.
New share issue and bridge loan
The Company continues to review the options for raising new capital and is preparing for a new share issue, which is planned to take place during September this year. The detailed terms of the new share issue will be announced separately.
One of the Company's major shareholders has provided the Company with SEK 8,000,000 as an advance, with the aim of covering part of the most critical liquidity shortfall. The advance entered into today is in breach of the terms and conditions of the bonds but has been essential for financing certain critical payments (including overdue claims) and to ensure that the Company can continue to operate on a solvent basis. The advance is free of interest and fees.
The advance may be increased, if necessary, up to the date of the planned new share issue, and the intention is that the advance (together with the advance announced in the press release mentioned above on 10 July 2026) will be set-off in full against shares in the planned new share issue. To the extent the advance is not set-off through such share issue, it shall fall due for payment in cash no later than 30 September 2026.
Uncertainties and grounds for termination
As is evident from the background section and the new share issue described above, there are uncertainties regarding the Group's financial future unless the current liquidity shortfall can be resolved, and there are currently outstanding events of defaults under the terms of the bonds. The Company is also preparing to initiate written procedures with the aim of implementing certain amendments to the terms and conditions of its outstanding bonds, and the detailed terms of the written procedures will be announced separately. Provided that the written procedures and the new share issue are successfully completed, the abovementioned events of defaults are expected to be remedied.
For further information, please contact:
Johan Nyrén, CEO
Telephone: +46 73-682 15 63
Email: johan.nyren@bigtravel.se
This information is information that TapTravel Nordic AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-08-13 08:57 CEST.