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6 Mar 2024 21:42
IN BRIEF: Sondrel secures loan to meet working capital needs
Sondrel Holdings PLC - Reading, England-based semiconductor design services firm - Enters GBP874,600 secured 15% convertible loan agreement with ROX Equity Partners Ltd, a UK-based private equity firm and long term investor specialising in emerging technology companies. Says the loan will meet immediate working capital requirements. Explains proceeds of the loan are expected to be received by the March 6. They will be utilised to meet February 2024 payroll and certain overdue supplier obligations. Interest is payable at a rate of 15% per annum quarterly on the last day of March, June, September and December.
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