Invinity has announced that, subject to the completion of the recent oversubscribed £19m placing, it will repay the remaining part of the $2.5 convertible loan facility entered into with RiverFort Global Opportunities in December 2022. This seems a sensible rationalisation of the financing without which the noteholders could have converted the outstanding amount into 6m shares which could have caused a drag on the share price. The past 6 months have seen a growth in traction for the company’s flow batteries and if this continues the company is in a strong position in our view.
03 Mar 2023
Invinity Energy Systems - Convertible To Be Repaid
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Invinity Energy Systems - Convertible To Be Repaid
Invinity Energy Systems PLC (IES:LON) | 23.2 0 0.0% | Mkt Cap: 51.1m
- Published:
03 Mar 2023 -
Author:
Adam Forsyth -
Pages:
3
Invinity has announced that, subject to the completion of the recent oversubscribed £19m placing, it will repay the remaining part of the $2.5 convertible loan facility entered into with RiverFort Global Opportunities in December 2022. This seems a sensible rationalisation of the financing without which the noteholders could have converted the outstanding amount into 6m shares which could have caused a drag on the share price. The past 6 months have seen a growth in traction for the company’s flow batteries and if this continues the company is in a strong position in our view.