Revasum Inc. (ASX: RVS), a global semiconductor technology and equipment firm, has secured additional financing of up to AU$1.5 million from its major shareholder, Firsthand Technologies, through a new note purchase agreement. The promissory notes issued to Firsthand Technologies or another nominee investor will secure additional working capital for the company. Furthermore, the company has issued warrants to subscribe for 4 million shares of common stock to Firsthand Technologies, subject to shareholder approvals and other conditions set out in the agreement.
The promissory notes are unsecured but will become secured upon satisfaction of certain conditions. The renegotiated terms of the Loan and Security Agreement (LSA) with SQN Venture Income Fund II, LP, include a reduction in the interest rate by 4.75% relative to the current penalty rate, deferment of principal repayments until January 2024, and a revised amortization schedule that will keep payments similar to the original schedule.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
