Modelon business line of credit is changed to SEK 5 million

Modelon AB’s (publ) business line of credit with Nordea Bank has been changed to SEK 5 million from previously SEK 10 million. The new level is effective as of today, November 12. It should be noted that the line of credit has never been utilized and the change will not have any immediate effects on Modelon’s business. Modelon’s cash balance was SEK 19.4 million as of October 31.

About Modelon

Modelon provides systems modeling and simulation software that accelerates product innovation, development and operations in a range of industries. Modelon’s flagship product, Modelon Impact, is a cloud-native, AI-driven system simulation software platform featuring a collaborative browser-based interface and thousands of proven models and components spanning a broad range of applications. Headquartered in Lund, Sweden, and with global reach, Modelon is an expert industry leader in model-based systems engineering with a focus on leveraging open standard technologies.
Modelon AB is listed on Nasdaq First North Growth Market with ticker symbol MODEL. Redeye Nordic Growth AB is appointed the Company’s Certified Adviser.

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