Beowulf (AIM: BEM) has provided an update on its £4.3 million financing, with completion now expected in September, subject to Swedish Foreign Direct Investment approval.
The strategic investment by Bacchus Capital & Affiliates remains under review by Sweden’s Inspectorate of Strategic Products.
Beowulf said supplementary information requested by the regulator has now been provided, with the notification expected to be treated as complete from 6 August 2026.
If no additional screening is required, the company expects the approval process to conclude within 25 business days, implying a decision on or around 11 September 2026.
The financing is then expected to close within two to three days of receiving approval.
Beowulf also announced a technical adjustment to the ownership structure behind part of the Bacchus investment. The planned 35.8% interest in Bacchus Strategic Minerals Limited will now be held through Bacchus Capital Tactical Situations 3 Limited, rather than directly by Bacchus Capital Advisers.
The overall strategic investment terms and Bacchus allocation remain otherwise unchanged.
