PYR completes settlement of Goldman Sachs warehouse and milestone funding package

Payright Limited (ASX: PYR) announced that it had completed the settlement of the transformational funding package, which was announced on 05 April 2022. The company has completed the settlement of the AU$9.5 million capital raising via an equity placement and unsecured convertible notes offering.

PYR has also completed the drawdown of a $125 million warehouse facility with senior lender Goldman Sachs and mezzanine arranger iPartners, and the company has repaid all the existing notes on 16 May 2022. The Goldman Sachs warehouse facility helps to immediately lower the cost of funding by approximately 50%, resulting in improving cash flow by $4.4m.

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