Glad to see they finalised the deal.
The good bits
- debt reduction of $500k with the ability to reduce by another $1m.
- interest rates stayed the same. In this environment where rates have moved up and corporate rates have moved higher than cash rates.
The bad bit
- the warrants are dilutive. At least they are exercisable at a reasonable premium.
The rock and hard place
- the previous finance deal had higher covenants due to expectations of extra profits from Medical Media. This put SW1 in a tough starting position regarding the debt.
Thankfully this has been put to bed and Brian and team can focus on installation and new projects in pipeline. Still plenty of demand and cheap compared to others.
Ann: Swift secures $7.7 million Finance Facility, page-3
-
- There are more pages in this discussion • 6 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
