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Last week, Netmore press released that it has signed a non-binding letter of intent (LOI) to acquire a leading North American company within IoT connectivity. It is also stated in the press release that Netmore estimates that a capital injection of SEK85m will be needed to finance the company’s ongoing operations during the next 24 months. The company hopes to have its short-term financing in place during Q1 2024, and the press release was made to be able to involve the major shareholders (who have expressed a strong interest in Netmore’s growth strategy).
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