• $2.125 million debt facility with attached warrants
• Facility extended to October 2026
• Reflects Fenja Capital's continued confidence in FirstWave's strategy

FirstWave Cloud Technology Limited (ASX: FCT) has announced that it has agreed to extend and restructure its finance facility with leading Danish asset management and specialist small cap financier Fenja Capital Partners A/S (formerly Formue Nord A/S). The initial $2.5 million convertible note agreement signed in February 2024 was due to expire on 22 August 2025. The new terms will be incorporated in a new agreement which, on signing, will replace the existing agreement and extends the period until October 2026. The restructuring of the previous agreement reflects Fenja Capital's continued confidence in FirstWave's strategy and recognizes the additional runway required for the company to achieve its growth ambitions in North and Latin America. The key components of the new agreement include a $2.125 million debt facility with attached off-market warrants, a term of 18 months until October 2026, and an interest rate of BBSW plus an 8% margin. FirstWave CEO Danny Maher stated that the new facility will allow the company to manage its cash flow and capital requirements with greater certainty as it pursues its plans to become a significant player in the global network management and cybersecurity space.

FirstWave remains confident it has the right products and a pipeline of new opportunities to achieve its growth targets.