An update from XReality Group Ltd ( (AU:XRG) ) is now available.
xReality Group Limited has secured a new senior debt facility of up to $6 million with Causeway Asset Management, replacing its existing debt facility. The new arrangement includes an initial $5 million drawdown to repay the existing debt and an additional $1 million available for working capital, contingent on achieving $7 million in annual recurring revenue. This financial restructuring is expected to eliminate near-term financial obligations, provide financial certainty, and support the company’s growth strategy. CEO Wayne Jones highlighted that the new facility positions the company for future growth and significantly improves its debt structure, reducing overall debt by 48% upon conversion of the Birkdale loan.
More about XReality Group Ltd
xReality Group Limited is a leader in enterprise software development, specializing in mission-critical simulations for military and law enforcement. The company operates both physical and digital simulation platforms, including indoor skydiving facilities, and offers virtual and augmented reality entertainment, training, and production services. Its Operator XR system provides a portable, secure, and immersive mission planning and rehearsal system for military and law enforcement agencies.
YTD Price Performance: 13.33%
Average Trading Volume: 557,519
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$19.41M
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