Renegotiation of Jiuyou Fund’s SEK 40 million investment in JonDeTech

As previously announced (latest on 15 May), JonDeTech Sensors AB (publ) and the Chinese tech-fund Jiuyou Fund has entered into an agreement regarding an investment of SEK 40 million. Jiuyou Funds investment is now being renegotiated.

Due to Chinese domestic approvals (foreign direct investment), Jiuyou has informed the board of directors of JonDeTech that they will not be able to meet the deadline or the forms of the investment as previously communicated. This means that the contemplated investment will not occur on the terms as discussed.

Jiuyou has, however, informed JonDeTech that they are still committed to pursue further investments in JonDeTech with focus on China. The parties are in continued discussions regarding form and timing of such investments. Further information will follow once an agreement has been reached.

About JonDeTech

JonDeTech is a Swedish company that develops, and markets patented IR sensor technology based on nanotechnology. The company’s IR sensors are down to one-tenth as thick as conventional sensors, built in plastic and can be manufactured in high volumes at a low cost, which opens for a variety of applications in, among other things, consumer electronics and mobile phones. The company was founded in 2008 and is listed on Nasdaq First North Growth Market. Redeye is the company’s Certified Adviser, +46-8-121 576 90, [email protected], https://www.redeye.se. Read more at www.jondetech.se or see how the IR sensor works at www.youtube.com/watch?v=2vEc3dRsDq8.

2020-06-30-PR-Investment-Agreement-regegotiation_ENG
Share the Post:

Related Posts