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Zaim Credit Systems Plc ( (GB:ZAIM) ) has shared an announcement.
Adalan Ventures has raised £405,000 via a discounted share subscription, converted over £399,000 of director, secretary and consultant fees and debt into equity, and issued convertible loan notes exceeding £848,000, significantly deleveraging its balance sheet ahead of a planned reverse takeover of Topos Network. The company has also granted directors and advisers substantial new RTO-linked and reissued IPO warrants, is negotiating up to £850,000 in additional funding from Topos, and will increase its share count to 77.4 million, moves that concentrate insider incentives around completing the RTO while diluting existing shareholders but aiming to stabilise working capital and advance the transaction.
More about Zaim Credit Systems Plc
Adalan Ventures Plc is a London-listed investment company pursuing a reverse takeover of Singapore-based Topos Network Pte. Ltd. The group, formerly focused on consumer finance, is reshaping its capital structure and balance sheet to support this transaction and reposition itself in a new operating business once the RTO completes.
Technical Sentiment Signal: Sell
Current Market Cap: £21.02M
See more insights into ZAIM stock on TipRanks’ Stock Analysis page.