Brief: Lawfinance Announces Successful Restructure And Capital Raising

Lawfinance

19/04/2021 01:36

April 19 (Reuters) - Lawfinance Ltd  LAW.AX :
    * SUCCESSFUL RESTRUCTURE AND CAPITAL RAISING-LAW.AX
    * NEGOTIATED TERMS FOR GREATER THAN A 90% REDUCTION IN ITS
CORPORATE NET DEBT
    * AGREED TERMS TO REFINANCE FRONT BOOK SECURED FACILITY
    * ARRANGED A NEW DEBT FACILITY OF A$3 MILLION
    * RECEIVED FIRM COMMITMENTS OF A$17.2 MILLION UNDER A
CONDITIONAL
PLACEMENT
    * PLACEMENT AT A$0.013 CENT PER SHARE
    * EXECUTED DEBT-TO-EQUITY AGREEMENTS WITH MORE THAN 40
LENDERS TO
CONVERT ABOUT A$55 MILLION OF CORPORATE DEBT TO EQUITY
    * CORPORATE DEBT TO EQUITY AGREEMENTS AT AN AVERAGE PRICE OF
$0.037 CENTS PER SHARE

Source text for Eikon:  urn:newsml:reuters.com:*:nASXq2yq9
Further company coverage:  LAW.AX 

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