RE: This will close with BLUE all over the place2 Aug 2021 16:48
"The Company has entered into an agreement ("Term Sheet") with the Italian Banking Group and the Fintech Bank which envisages:
1. the signing of a commercial agreement to manage both the origination of new Client companies and a multi-annual inventory funding plan; and
2. the execution of a first inventory monetisation transaction involving a portfolio of Italian Client Companies.
Simultaneously to the successful completion of the arrangements above, Supply@ME will acquire up to 10% of the Fintech Bank, a level which is below the threshold requiring regulatory approval. An additional 10% of the Fintech Bank may be acquired at the option of the Company within the following two years which would require an authorisation process through the Central Bank. In April 2021, the Fintech Bank was valued, by a Big4[1] firm, at between €34m - €50.6m."
We buy our 10% stake at the same time as the clients are monetised. Remember the clients have to pay the fee upfront, not further down the line.