DLA Piper has advised Bayn Europe AB (publ) (Bayn) on their securement of external financing through issuance of warranted convertible notes in several tranches, totaling SEK20 million spread over 24 months.

The tranches are subscribed by a fund managed by L1 Capital Pty, Ltd., an Australian fund manager additionally operating in the US and Europe. In connection with this transaction, Bayn will also issue free warrants to its existing shareholders to protect them against dilution. The warrants will be admitted to trading on Nasdaq First North.

Founded in 2009 in Stockholm, Bayn is an independent developer of cutting edge, healthy, reduced sugar solutions for the food and beverage industry. Its solutions focus on taste, texture and cost-in-use, and its business model is based on solid networks of scientific research, market channel partnerships and contracted manufacturers. The firm is listed on Nasdaq First North.

DLA Piper's team consisted of Corporate partner Peter Näslund and Corporate associate Louise St Cyr Linnarsson.