Saab finds more funding, hopes to pay white-collar workers this week

Swedish Automobile announced today that it issued a subscription notice for 5 million shares under the current EUR 150 million equity facility between Swan and GEM Global Yield Fund Limited.

“The exact number of shares to be issued and the price thereof will depend on the pricing period which commences today,” Swedish Automobile said in a statement.

Saab said that it expects to pay wages of its white-collar workers this week. Other than that, Swan and Saab are moving forward with discussions with parties to obtain short-term funding to be able to restart and sustain production.

– By: Omar Rana