IN BRIEF: Molten Ventures launches buyback, agrees new debt facility
Molten Ventures PLC - London-based venture capital firm, which invests in developing high-growth digital businesses - Announces commencement of new up to GBP10.0 million share buyback programme, to be financed through existing cash resources. Also says that Hologic Inc's acquisition of Cambridge-based, breast cancer-focused medical technology company Endomag has now closed, due to completion of the regulatory review. Company first invested in Endomag in 2018, and says transaction proceeds of around USD46 million are "modestly in excess" of Molten's GBP35 million holding value. Finally, Molten has agreed a new GBP180 million net asset value facility, effective from September 7, with JP Morgan Chase Bank NA and HSBC Innovation Banking Ltd. The debt facility comprises a GBP120 million term loan and a revolving credit facility of up to GBP60 million, both with a three-year tenor. It replaces the existing GBP150 million facility with the same lenders. Read More