13th Sep 2013 08:09
LONDON (Alliance News) - NetDimensions Holdings Limited said Friday that it had secured a USD5 million finance facility with Silicon Valley Bank.
The software-investment holding company said that it now had the financial facilities to provide headroom of around USD14 million to pursue its business plan and increase investment. It will use this funding for acquisitions.
The financing facility is in the form of a working capital line of up to USD1.5 million in the first year, then increasing to USD2 million on the first anniversary, and a term loan of up USD3 million with a 36 month term.
Shares in NetDimensions were trading up 1.7% at 61.00 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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