Silverbullet Raises £200,000 Through Convertible Loan Note Fundraise
Why we think this is good
The convertible loan note fundraise provides Silverbullet with additional working capital to support the growth of its 4D product and services offering. The terms of the financing appear reasonable, and the amount raised is not expected to have a significant impact on the company's financial position. While this is a positive development, it does not meet the criteria for a 'Very Good' rating as it is not a profit upgrade or a statement of trading significantly ahead of market expectations.
Key Points
- Silverbullet raises £200,000 through convertible loan note fundraise
- Funds will support growth in sales of 4D product and services
- Convertible loan notes have 3-year term and 12% interest rate
Summary
Silverbullet, a provider of AI driven digital transformation services and products, has raised £200,000 via the issue of convertible loan notes. The convertible loan notes will provide the Company with additional working capital to support the significant growth in sales of 4D and its services offering. The convertible loan notes have a 3-year term and attract interest at a rate of 12% per annum, with the option for the Company to pay 8% in cash and 4% via the issue of additional convertible loan notes.