capital without equity raise21 Sep 2020 08:33
Alessandro Zamboni, SYME CEO, commented "This strategic Bank partnership is a significant addition to the Company's existing funding initiatives. Our objective has always been to form partnerships that would enable us to exceed our funding targets, and this agreement achieves that at one stroke. Our business model is highly scalable, subject to access to capital, and to client companies. With this new Bank partnership and the other on-track initiatives, we now have capital and client companies.
"We are moving into an economic environment where recapitalisation of companies and other forms of capital injection, such as inventory monetisation, will need to be considered. SYME provides a service that is comparable to an equity recapitalisation with better funding costs and the absence of any equity dilution. Our new Bank partnership will mean that we have two important key barriers to entry protecting us in this untapped inventory monetisation market: a unique capability to analyse and monitor inventory, and a competitive cost of funding through which to monetise it. We're delighted with this big step forward and are enthusiastic to push ahead with the next phase of SYME."