Sondrel has announced it has secured an additional £2m convertible loan note with ROX Equity Partners to fund near-term payroll and working capital needs. The terms are similar to the ones agreed for £0.9m CLN in Feb 2024 with a 15% interest rate, a three-year repayment term, and is expected to convert into ordinary shares at 10 pence each. The proposed fundraise that is open to existing shareholders has now increased from £6.5m to £8.5m (including the proceeds from the CLNs), with a subsequent ....
