Go North to submit a restructuring plan to the district court that inter alia entails a proposal of a write down of bonds and other debt

As announced through press releases on 12 September 2024 and 16 September 2024, Go North Group AB (publ) ("Go North" or the "Company") is under company restructuring (Sw. företagsrekonstruktion) (the "Company Restructuring"). Go North announces today that a restructuring plan has been prepared for the Company Restructuring.

"We are pleased to have taken this important step in the restructuring and look forward to implementing a sustainable capital structure that will position Go North for long-term growth and success", says Ryan Looysen, CEO

The restructuring plan has the support of Go North's largest creditors, the holders the Company's outstanding bonds; (i) the senior secured fixed rate bonds with ISIN NO0012829847 (SEK Tranche) and NO0012829854 (USD Tranche) (the "Old Senior Bonds"), (ii) the senior secured floating rate bonds with ISIN NO0013165845 (Cash Tranche) and NO0013165852 (Set-off Tranche) (the "Super Senior Bonds") and (iii) the senior secured fixed rate bonds with ISIN NO0013148411 (the "Back Stop Fee Notes" and jointly the "Existing Bonds") as represented by a bondholders committee that has been established under the Existing Bonds (the "Bondholders' Committee"). The restructuring plan entails a debt restructuring and ownership change, including inter alia, (i) a partial roll over of the Super Senior Bonds on new terms, (ii) a debt-to-equity swap whereby the holders of Existing Bonds will ultimately become shareholders of the Company (in an allocation that will be announced separately), and (iii) a write down of the remainder of the Super Senior Bonds that are not rolled over and the other Existing Bonds to an amount corresponding to the composition payment (5%), which amount will then be subject to remission by the holders of the Existing Bonds in connection with the implementation of the new ownership structure (and will consequently not be paid out). The amount of the Super Senior Bonds that is intended to be rolled over will be finally decided upon completion of the restructuring. It is estimated that the rolled over part of the Super Senior Bond will amount to around SEK 90 million. The proposed restructuring plan is subject to approval by the court and concerned parties at the plan hearing before it can be implemented. It is expected that the plan hearing will occur around the second half of October.

In connection with the preparations of a restructuring plan, an interim financing arrangement pursuant to which in total SEK 30 million will be provided to the Company on separate occasions to support the business operations during the period until the restructuring plan can be implemented has been agreed. The provisions of the funds are conditional upon inter alia that the written procedures for the Existing Bonds that are to approve the restructuring plan have been completed. In connection with, and in order to facilitate, the implementation of the interim financing, trading in the Cash Tranche of the Super Senior Bonds may be blocked until the implementation of the interim financing has been completed.

Further details on the content of the restructuring plan is set out in the restructuring plan, which will be submitted to the district court of Gothenburg (Sw. Göteborgs tingsrätt) no later than Wednesday, 17 September 2025. Notices of written procedures requesting the bondholders' approval of the restructuring plan and related matters will also be issued shortly under each of the Existing Bonds. The notices of written procedures will contain additional detailed information in relation to the proposed treatment of the Existing Bonds.

For further information, please contact the Company:

Ryan Looysen, CEO
E-mail: [email protected]

About Go North:

Go North Group AB was founded as an Amazon aggregator, acquiring a portfolio of brands which primarily sold products on Amazon in the USA. Based in Sweden, Go North is now focused on bringing consumers simple, yet impactful, solutions to everyday problems.

This information is information that Go North Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-09-17 09:22 CEST.