Business
New Funding Facility
New Funding Facility.
About this update from Supply@me Capital Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU, WHICH IS PART OF UNITED KINGDOM DOMESTIC LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (\"UK MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n19 March 2025\n\nSupply@ME Capital plc\n(The \"Company\" or \"SYME\")\nNew Funding Facility\n \nSYME, the fintech business which provides an innovative fintech platform (the \"Platform\") for use by manufacturing and trading companies to access Inventory Monetisation© (\"IM\") solutions enabling their businesses to generate cashflow, announces that on 18 March 2025 it has entered into a new US$5,150,000 on-demand convertible funding facility with Nuburu Inc., an NYSE listed (NYSE American: BURU) high-tech company of which Alessandro Zamboni, a director of the Company, is Executive Chairman (\"BURU\") (the \"New On-Demand Facility\").\nThe agreement of this new funding facility has followed the non-performance under the £3.5 million shareholder loan agreement the Company entered into with The AvantGarde Group S.p.A (\"TAG\") on 28 September 2023 (the \"Top-Up Shareholder Loan Agreement\") and in respect of which further announcements have been made, most recently on 10 February 2025. In the light of this, SYME had been working to secure alternative sources of funding to address the urgent cashflow needs of the Group, and the Board believes that the New On-Demand Facility represents the best option of those currently available to the Group.\nThe key terms of the New On-Demand Facility are set out below:\n· The US$5,150,000 will be received by the Company in line with the following tranches:\n- US$150,000 which has already been received by the Company as an advance payment;\n- US$500,000 on or before 31 March 2025;\n- US$1,000,000 on or before 30 April 2025;\n- US$1,000,000 on or before 31 May 2025;\n- US$1,000,000 on or before 30 June 2025;\n- US$1,000,000 on or before 31 July 2025; and\n- US$500,000 on or before 31 August 2025.\n\n· If BURU announces ...