SDX Energy (GB:SDX) has released an update.
SDX Energy PLC has entered into a new facility agreement with Aleph Finance Ltd to refinance an existing $3.82 million convertible loan, replacing it with a term loan up to $6 million, repayable by July 23, 2025. The arrangement includes a security package over various company assets and allows the lender to convert loan amounts into shares at a discounted rate, subject to a 200 million share issuance threshold. Shareholder approval is required for the agreement’s finalization, with a general meeting scheduled for September 20, 2024, to vote on the matter; failure to pass the resolutions could lead to the company’s default and potential insolvency.
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