They've signed a US15M debt financing facility. 24 month interest only, extendable up to further 12 months. Term should get them through to B/E. Small amount of warrants attached. Why now? I guess if they are seriously looking to scale up commercialisation in the US then they want to have all the ducks in a row to build out salesforce and finance inventory build to hit targets over next two years. Interest at ~8.5%. Based on my back of the envelope I thought the company may need to raise another $US20 M to get through break even and cashflow positive. Maybe they dont need to raise additional equity? Think this is a positive and market response should be supportive.
AXP Price at posting:
70.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)