RE: No TR1 as successful syndication13 May 2022 15:47
FACT - not the same message at all lol
29 September 2021
Supply@ME Capital plc
(The "Company" or "SYME")
New £7 million Loan Note Facility completed
Supply@ME finalises short-term loan facility with Mercator Capital Management Fund LP to close Agreement with Negma Group
Supply@ME Capital plc, the fintech business which provides an innovative Platform for use by manufacturing and trading companies to access Inventory Monetisation© solutions enabling their businesses to generate cashflow, is pleased to announce that further to the agreement of term sheets, as per the RNS of 2 September 2021, it has now finalised and signed a short-term loan facility with Mercator Capital Management Fund LP ("Mercator").
Mercator is a Cayman regulated fund, introduced to the Company by ARC Group ("ARC"), a global Investment Bank specialising in the middle markets, with representative offices across all continents. ARC focuses on providing global fundraising solutions to its clients from institutional investors.
The short-term loan facility replaces the Subscription Agreement previously signed with Negma Group Ltd ("Negma Group"), as set out in the RNS of 16 June 2021. Following the most recent issuance of 840,000,000 New Ordinary Shares which were allotted to Negma Group as per the RNS of 2 September 2021, the remaining outstanding par value of the Convertible Loan Notes not yet converted of £2,016,000 is expected to be repaid in cash by the Company, funded by the new short-term loan facility.
SYME will also use the funds to support the Group's growth and its ongoing working capital requirements. SYME will also continue to work closely with ARC to further explore its NASDAQ dual listing' project.
Alessandro Zamboni, CEO, Supply@ME Capital plc, said: "We are delighted to finalise our agreement with Mercator Capital Management Fund. The funds will increase our balance sheet flexibility and ensure we are well funded as we continue our business expansion. We are hugely grateful to ARC for introducing us to a high-quality funding partner".