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The latest update is out from Cinis Fertilizer AB ( (SE:CINIS) ).
Cinis Fertilizer has warned that it is in a strained financial position and urgently needs new liquidity to secure continued operations, prompting an ongoing strategic financial review. The board is assessing options including a restructuring of the company’s equity and debt, potential court-supervised or out-of-court solutions, as well as possible winding down of operations or divestment of key assets, and is in talks with bondholders and its bank over bridge financing and a longer-term fix. With no agreement yet reached and current cash-preservation measures expected to sustain the business for only a couple of weeks, the company signals that it will most likely have to initiate formal insolvency proceedings if a going-concern solution is not secured in the near term, raising significant uncertainty for creditors, shareholders and other stakeholders.
More about Cinis Fertilizer AB
Cinis Fertilizer AB is a Swedish greentech company that produces environmentally friendly potassium sulfate (SOP) fertilizer by recycling residual streams from battery, pulp and other industries. Using patented technology that consumes roughly half the energy of conventional methods, the company targets sustainable agriculture with a low-carbon, circular production model and is listed on the Nasdaq First North Growth Market in Stockholm.
Average Trading Volume: 446,387
Technical Sentiment Signal: Sell
Current Market Cap: SEK41.01M
Learn more about CINIS stock on TipRanks’ Stock Analysis page.