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NetDimensions Secures USD5M Loan Facility With Silicon Valley Bank
LONDON (Alliance News) - NetDimensions Holdings Limited said Friday that it had secured a USD5 million finance facility with Silicon Valley Bank.
The software-investment holding company said that it now had the financial facilities to provide headroom of around USD14 million to pursue its business plan and increase investment. It will use this funding for acquisitions.
The financing facility is in the form of a working capital line of up to USD1.5 million in the first year, then increasing to USD2 million on the first anniversary, and a term loan of up USD3 million with a 36 month term.
Shares in NetDimensions were trading up 1.7% at 61.00 pence Friday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright 2013 Alliance News Limited. All Rights Reserved.
Latest NETD News
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10 Nov 2016 - NetDimensions confirms unsolicited approach
5 Oct 2016 - NetDimensions narrows loss despite smaller revenue
19 Sep 2016 - NetDimensions Loss Narrows In First Half Of 2016 As Margins Improve
19 Sep 2016 - NetDimensions cautions over H2 sales
25 Jul 2016 - WINNERS & LOSERS SUMMARY: William Hill Rises On 888 And Rank Interest
25 Jul 2016 - NetDimensions Says Revenue Delays To Continue In Second Half
25 Jul 2016
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