(CercleFinance.com) – The GECI International Group announces that it is raising funds of €0.5 million by drawing a tranche of 50 bonds redeemable in cash and/or new shares (‘ORNAN’) and exercising corresponding of 50 ORNAN warrants by the investment fund YA II PN, LTD.
This operation is part of the financing for a maximum net amount of €9.3 million concluded on September 30, 2020, with the aim of rebuilding the Group’s equity, strengthening its future net working capital and strengthening its financial structure.
This drawdown will be primarily intended to reduce the Group’s indebtedness and to finance its net working capital requirement. At the end of this drawing, the residual financing capacity by ORNAN is 5 ME gross.