- Food technology company Big Dish said it had signed a letter of intent with a Central European investment group that would provide the company with $5m investment.

The company also said it had secured a short term loan from an investment company of £540,000 to ensure it had sufficient runway until the end of the second quarter of 2021 in order to complete the conditions.

Loan repayments would be due in the second and third quarters of 2021.

The investment from the investment group was conditional on various criteria being met including the completion of a technology audit once the Big Dish's SaaS platform had been fully built; Restaurant acceptance of BigDish-to-GO; and completion and acceptance of an international market expansion plan that supported a $5m investment over an 18 month period.

After meeting the conditions, the company and the investment group would seek to upgrade the letter of intent to a definitive agreement by the end of the second quarter of 2021.

'If successful, the investment would be made into a special purpose vehicle to support international expansion and would not be dilutive to the company,' Big Dish said.

At 8:13am: [LON:DISH] Bigdish Plc Ord Npv share price was +0.13p at 2.15p

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