Wingara AG Secures $250,000 Loan Facility
Key points
- Wingara AG receives $250,000 loan facility from NAOS Asset Management
- Facility enables Wingara to pursue transaction opportunities
- Loan facility has 12% annual interest, repayable by 31 Dec 2026
Full summary
Wingara AG Limited has announced that it has received binding commitments from entities associated with NAOS Asset Management Ltd for a $250,000 Loan Facility. This facility will enable the company to continue working through several transaction opportunities that have been presented to it. The key terms of the loan facility include an interest rate of 12% per annum, which accrues daily and is to be capitalized every three months. The repayment date is 31 December 2026 or such earlier date as the company successfully completes a capital raising of at least $1,000,000. Subject to shareholder approval, the lender may convert the outstanding amount into Convertible Notes. The company may also prepay some or all of the outstanding amount at any time. The facility is not secured. The issue of Convertible Notes is subject to shareholder approval, which the company will seek at its next general meeting.
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