Hannun secures €1M credit line from Andbank, with equity option attached
What's the deal? Spanish artisanal furniture company HannunDealroom has a profile for this one. Try Dealroom → has signed a €1 million credit facility with Andorran bank AndbankDealroom has a profile for this one. Try Dealroom →, the company disclosed to Spain's BME GrowthDealroom has a profile for this one. Try Dealroom → market. The financing carries a one-year term, renewable for a further year.
The catch: Beyond interest payments, Andbank secures a call option on 1.25 million Hannun shares — equal to 2.47% of the company — for a total price of one euro. The bank can exercise it up to six months after the credit is cancelled.
What's the money for? Hannun will use the funds to finance working capital and manage its treasury. Shareholders approved the operation at a meeting in late June.
By the numbers: Hannun closed at €0.185 per share, putting its market capitalisation at €9.33 million. The company sells its furniture online and, in July, unveiled a plan to lift revenue 150% by 2028, to €17.4 million.
The signal: The deal shows how small listed companies are tapping bank debt paired with equity sweeteners to fund growth. For Hannun, the credit line offers near-term liquidity as it chases an ambitious sales target — at the cost of potentially diluting shareholders.
Read more: expansion.com
Image credit: Generated with Gemini
