Supply@ME Capital PLC (LON:SYME) has entered into a subscription agreement with Negma Group for the issue of an initial tranche of £5.6mln of Convertible Loan Notes.
The Subscription Agreement allows for a further nine tranches to be issued at the same par value exclusively at the option of the company.
Negma is to subscribe at a subscription price of £50,000 per Convertible Loan Note for an aggregate total of £5,000,000.
Negma Group is an alternative investment fund providing small and mid-cap companies with the funding required to support their growth.
The net proceeds of the issue will be used to support the completion of the acquisition of TradeFlow Capital Management and provide working capital, said SYME.
Inventory platform SYME added it is also looking at a potential dual listing of its shares on NASDAQ and/or other trading venues.
Alessandro Zamboni, SYME CEO, said: This new funding facility will support SYME's continued business development not only in terms of providing additional working capital but by helping to finance the Company's first strategic acquisition.
“The investment by Negma will also help to open up new markets where we are looking at the possibility of a dual listing.
“Also gaining traction from TradeFlow's business, we expect high growth rates for the Group and we do not rule out working shortly with additional strategic funding partners."