Financial Technology

Go North Group AB (publ) announces fixed income investor meetings to evaluate bond refinancing and provides financial update

GOTHENBURG, Sweden, Jan. 13, 2023 /PRNewswire/ — Go North Group AB (publ) (“Go North” or the “Group”) has mandated Pareto Securities AB to arrange a series of fixed income investor meetings commencing on 17 January 2023. Subject to, inter alia, market conditions, a 3-year senior secured floating rate bond issue in an initial amount of up to SEK 500 million may follow (the “Bond Issue”).

The proceeds from the contemplated Bond Issue will be used to finance the redemption of Go North’s existing bond loan with ISIN SE0018040867, finance transaction costs, and for general corporate purposes of the Group, including investments and acquisitions.

In conjunction with the contemplated Bond Issue, Go North publishes certain preliminary financial information. For the twelve months period ended November 2022, revenue and adjusted EBITDA amounted to SEK 427 million and SEK 81 million, respectively, on a pro-forma basis. Gross interest-bearing debt amounted to SEK 275 million whereas the total cash position amounted to SEK 168 million.

For more information, please contact:

Johan Hallenby, CEO/Founder
Tel: +46 735 070707 
Mail: [email protected] 

Information:

This information is information that Go North Group 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 person set out above, at 08:00 CET on 13 January 2023.

About Go North:

Go North Group AB (publ), acquiring and scaling Amazon FBA brands and has in just over a year built a portfolio of 30 brands, diversified across a variety of Amazon categories, ranging from pets, sports, and outdoors to kitchen supplies. In parallel, Go North has now built a team of about 50 people, with several key hires coming with Amazon Aggregators and marketplace experience, spread across Europe the US, and Asia. Continued investments in technology and data are business critical and within the Go North DNA, to ensure strengthen our processes, and make data-driven and informed decisions to create future repeatable and scalable profit growth for the group.

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SOURCE Go North Group AB

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