Baker Hughes is providing vendor funding to i3 for £3 mm of oilfield services and equipment associated with the 2019 and 2020 drilling programme. I3 will only have to pay for these services after first oil sales. The £3 mm will then be paid either in cash or in shares at a price of £0.5685 per share representing up to 5.3 mm new shares. The holders of the junior facility are being issued 1.6 mm warrants on the same terms
02 Jul 2019
FLASH: Vendor funding agreement
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FLASH: Vendor funding agreement
i3 Energy Plc (I3E:LON) | 12.9 0.1 5.9% | Mkt Cap: 155.4m
- Published:
02 Jul 2019 -
Author:
Stephane Foucaud -
Pages:
2
Baker Hughes is providing vendor funding to i3 for £3 mm of oilfield services and equipment associated with the 2019 and 2020 drilling programme. I3 will only have to pay for these services after first oil sales. The £3 mm will then be paid either in cash or in shares at a price of £0.5685 per share representing up to 5.3 mm new shares. The holders of the junior facility are being issued 1.6 mm warrants on the same terms