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Kneat Secures Up to Euro15 Million Through Secured Credit Facility to Fund Continued Growth of the Company
Kneat Secures Up to €15 Million Through Secured Credit Facility to Fund Continued Growth o...
About this update from Kneat.com, Inc.
[{"type":"text","content":"\n \n \n \n Kneat Secures Up to €15 Million Through Secured Credit Facility to Fund Continued Growth of the Company\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Financing Fuels Kneat's Strong Revenue Growth and Improving Margin Profile\n \n \n \n \n LIMERICK,\n \n Ireland\n \n \n ,\n \n \n June 26, 2023\n \n \n /CNW/ -\n \n kneat.com, inc. (the \"Company\" or \"Kneat\")\n \n (TSX: KSI) (OTC: KSIOF), a leader in digitizing and automating validation and quality processes, is pleased to announce that it has secured up to €15 million in secured debt financing from IPF Partners, a leading financing provider focused exclusively on the healthcare sector.  The credit facilities (the \"Facilities\") consist of three term credit facility commitments of €5 million each, to be availed by Kneat's Irish subsidiary, Kneat Solutions Limited. Each Facility matures 18 quarters from its initial drawdown date. In addition to the usual conditions for utilization of the Facilities, availability under the latter two Facilities shall be subject to achievement of Annual Recurring Revenue (ARR) milestones.  Kneat intends to use the financing alongside its own funds from operations for general corporate purposes.\n \n \n \n \n \n \n \n \n \n \"The financing we are announcing today provides Kneat with greater financial flexibility as we continue building out the next-gen platform for quality management and supports us on our way toward profitability,\" said\n \n Eddie Ryan\n \n , CEO of Kneat.  \"With our strong revenue growth, improving gross margins, and ongoing wins inside the world's largest pharmaceutical companies, we continue to consolidate our leadership position in digital validation for the life science industry.\"\n \n \n \"We are pleased to support Kneat's efforts helping make life sciences companies' processes for quality management leaner, faster, smarter and more sustainable,\" said Raeto Guler, a partner at IPF Partners.  \"We are confident in Kneat's ability to ...