KRM22 plc, (AIM: KRM) the technology and software investment company that focuses on risk management for capital markets, is pleased to announce that its subsidiary KRM22 Central Limited has entered into a new five-year debt facility (the “Facility”) with Harbert European Growth Capital Fund II (“Harbert” or “HEGCF II”).
The Facility will support future business growth and allow the Company to pursue its pipeline of investment targets.
The Facility, summary details of which were outlined in the Company’s fundraising announcement of 3 April 2019, is for up to EUROS 11.55 million (the euro equivalent of £10.0 million) of which an initial £1m will be drawn down immediately. The availability of additional drawdowns is based on the value and growth of the KRM22 group’s (“Group”) annualised recurring revenues (“ARR”) and drawdowns can be made until 31 December 2020.
The Company has a strong pipeline of investment opportunities and continues to actively pursue near-term acquisition and partnership opportunities. As the Group grows its ARR organically and via acquisition, further drawdowns of the Facility are expected to be made.
To read the full article, please click here.