Brief: Turkey's Volt Lines Closes Carve-Out Round With A 30% Oversubscription
23/03/2023 11:43
March 23 (Reuters) - VOLT LINES:
* CLOSES ITS CARVE-OUT ROUND, WITH A 30% OVERSUBSCRIPTION
VERSUS
THE FUNDRAISING TARGET
* TARGET SET FOR ROUND GIVES TWICE THE CASH NEEDED TO GET TO
ITS
SHORT-TERM OBJECTIVE OF ACHIEVING POSITIVE FREE CASH FLOW BY THE
END OF 2023
* VOLT LINES NEARLY TRIPLED ITS MONTHLY RECURRING REVENUE
SINCE
START OF 2022 AND IMPROVED ITS MARGINS BY MORE THAN 25
PERCENTAGE POINTS
* COMPANY IS EXPECTED TO DOUBLE ITS REVENUE AGAIN IN 2023
WHILE
BEING ON TRACK TO BECOME CASH FLOW POSITIVE BY Q4 OF 2023
((Reuters.Briefs@thomsonreuters.com;))
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