Amphion Innovations Plc (LON:AMP) has extended repayment of a loan while agreeing an additional US$1.55mln drawdown.
The additional sum will be used for working capital purposes.
READ: Amphion lifted by promissory note conversion at assumed 8p per share
Including the additional draw, the company will owe just under US$6.2mln, which will be re-paid in seven monthly instalments from June 15 next year. The loan was originally due in January.
The borrowings are secured against just under 36.4mln shares in Amphion Innovations, one of its biggest investments.
At today’s price (34p) that stake is worth US$16.5mln.
READ: Amphion Innovations says Polarean's AIM listing is expected to complete by first quarter of next year
The coupon under the terms of the additional draw is 10%. The lender will also be entitled to 10% of the appreciation on 12mln Motif shares above 35p.
In a separate announcement, Amphion said investee company Polarean Imaging, in which it holds a 26% stake, has raised US$865,880 (£647,127) via a convertible promissory note.