Beonic Secures USD$2.1 millions Financing for Growth and Flexibility

Beonic Limited (ASX:BEO), a global IoT solutions provider for Airports and Retail, has secured a USD $2.1 million loan facility with Blue Venshures SPV 1 LLC, replacing the previous $1.8 million loan with Export Finance Australia. The funds will be allocated for growth, restructuring initiatives, and general working capital. Beonic CEO Billy Tucker expressed gratitude to Export Finance Australia and highlighted the financial flexibility offered by the new facility. The loan, with a 15% p.a. interest rate, has a 2-year term and no principal amortization, with Beonic executives contributing to the facility. The debt arrangement is non-dilutive and lacks conversion rights to BEO shares. Beonic specializes in AI-driven platforms that enhance operational performance for various venues.

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