In recent news, Harvest Technology Group Ltd. (AU:HTG) has announced a major update on its financial position. The company has successfully secured A$1.2 million through loan note financing, with the possibility of an additional A$200,000 before fees, to support its working capital needs. The terms of the 12-month loan have been structured to minimize dilution for existing shareholders, offering repayment options in either cash or shares and carrying an interest rate of 15%.
CEO Ilario Faenza emphasized the importance of this funding in driving the company’s transformation and mentioned plans to unveil a 3-year strategic roadmap in the near future. This news is certainly positive for investors and suggests that AU:HTG is taking proactive steps to improve its financial situation and achieve long-term success.
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