Sopheon in new $3.5m working capital facilities
The new facilities provided by SVB comprised a term loan of $0.5m, and a $3m revolving line of credit secured on US and UK receivables.
These facilities were secured through debentures in the UK and UCC filings in the USA.
Interest rates were subject to certain working capital ratios and are substantially lower than those of the facilities they replaced, reflecting the growing maturity of the Sopheon business.
At 8:12am: [LON:SPE] Sopheon PLC share price was 0p at 85p
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