Funding Commitment Agreement Update
CARDIEX Limited (ASX:CDX) (CARDIEX, the Company) provides an update on the Funding Commitment Agreement (FCA) with C2 Ventures Pty Limited (C2V, owned by Directors Niall Cairns and Craig Cooper) as announced on 8 November 2023.
The Company and C2V have entered into a variation of the FCA by increasing the facility limit by $966,434.40 which brings the total facility limit to $8,466,434.40 (with $6,000,000 remaining undrawn), and replacing $7,500,000 as previously announced. This variation and increased investment from C2V, which in effect increases the FCA facility limit by the amount of the C2V underwriting of the Entitlement Offer, ensures that CARDIEX completes the previously announced $14 million fund-raising package.
Shareholder approval will be sought at an upcoming Extraordinary General Meeting of Shareholders, to the extent possible, for the potential conversion to equity on the same pricing and other terms as the recent capital raising of all loans under the FCA, up to the maximum facility limit.
All other key terms of the FCA remain unchanged.
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Source : https://investingnews.com/funding-commitment-agreement-update/