Harvest Technology Group Limited Secures A$1.2 Million in Loan Note Financing for Working Capital and Core Business Investment
Harvest Technology Group Ltd. (AU:HTG) has recently announced that it has successfully secured A$1.2 million through loan note financing, with the possibility of an additional A$200,000 raised before fees. This funding will be utilized to strengthen the company’s working capital. The 12-month loan terms have been structured to minimize dilution for existing shareholders, offering repayment options in cash or shares and an interest rate of 15%.
In a statement, CEO Ilario Faenza highlighted the significance of this funding in the company’s transformation and growth. He also mentioned that Harvest Technology Group Ltd. is in the process of developing a 3-year strategic plan, which will be shared with stakeholders in the near future. This strategic plan is expected to provide a roadmap for the company’s future activities and growth prospects.
Faenza stated that this funding will enable the company to invest in its core business while keeping its financial position strong. He added that Harvest Technology Group Ltd. is committed to delivering value for its shareholders and customers and remains focused on achieving its long-term goals.
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