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StatPro jumps as it increases financing facilities to £49.1mln

The firm, which supplies cloud-based portfolio analytics software, said £5.2mln of committed facility and £6mln of uncommitted capital had been added
Money
StatPro said the funds would be available for acquisitions, share buy-backs and general corporate purposes

StatPro Group PLC (LON:SOG) has increased its financing facilities to around £49.1mln through an agreement with Wells Fargo Capital Finance.

The firm, which supplies cloud-based portfolio analytics software, said £5.2mln of committed facility (a loan on defined terms) and £6mln of uncommitted capital had been added, which would be available for acquisitions, share buy-backs and general corporate purposes.

READ: StatPro Group lands US$1.2mln contract extension for flagship product

The term for the committed facility has also been extended to April 2024.

"This increase and extension in our flexible financing facilities provide additional capacity for financing future acquisitions and also further strengthens the Group's long-term financial structure", said Justin Wheatley, chief executive of StatPro.

In early trading on Tuesday, StatPro shares were up 3% at 116.4p.

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