From re-reading the SPP releases they have until the 6th of Sept to re-negotiate the Debt Facility, I guess its still in progress and we won't hear anything until they have a way forward... or not... at least they were honest that there was no guarantee they would be able to get funding.
"As at 31 May 2022, EOS had a cash balance of approximately A$26 million (unaudited) and debt outstanding of A$35 million (under the current working capital facility with RNC Nominees Pty Ltd (RNC), which matures on 6 September2022). The Company will apply the proceeds of the Placement and SPP towards meeting the Company's working capital and near-term capital requirements. Further the Company currently intends, among its other capital initiatives ,to either seek to extend the existing RNC facility or seek alternative funding. There is no guarantee that the facility will be extended or that alternative funding will be available."
EOS Price at posting:
72.0¢ Sentiment: Hold Disclosure: Held
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