Intellectual property portfolio developer Amphion Innovations Plc (LON:AMP) has drawn down another US$500,000 from the loan facility it announced in June 2014.
· Read Amphion Innovations unveils new loan financing
The current loan balance under the facility after the additional draw-down will be US$5.8mln.
The latest draw-down may be converted into ordinary shares of Amphion. The loan carries an interest rate of 10%, with the repayment amount tacked onto the outstanding balance and amortised over the remaining life of the loan, which expires on 1 December of this year.