Supply@ME ( (GB:SYME) ) just unveiled an update.
Supply@ME Capital PLC has secured a new US$5,150,000 on-demand convertible funding facility with Nuburu Inc., following the non-performance of a previous shareholder loan agreement. This new funding arrangement is intended to address urgent cash flow needs and involves a structured payment schedule with potential acceleration based on additional funding received by Nuburu. The agreement also includes provisions for conversion into ordinary shares and requires various approvals. The transaction is considered a material related party transaction due to the involvement of Alessandro Zamboni, who holds positions in both SYME and Nuburu.
More about Supply@ME
Supply@ME Capital PLC (SYME) is a fintech company that offers an innovative platform for manufacturing and trading companies to access Inventory Monetisation solutions. This platform enables businesses to generate cash flow without incurring debt by monetizing their existing eligible inventory through third-party Inventory Funders.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £2.51M
See more data about SYME stock on TipRanks’ Stock Analysis page.