Australia's Electro Optic Systems hits highest in nearly a decade on new debt finance

Washington H. Soul Pattinson and

13/10/2022 02:04

** Shares of Electro Optic Systems Holdings Ltd  EOS.AX 
climb as much as 39% to A$0.695, their highest since Feb. 4,
2013
    ** Tech firm says it will receive debt finance from
Australia-based investment firm Washington H. Soul Pattinson and
Company Ltd  SOL.AX    urn:newsml:reuters.com:*:nASX7CRKNC
    ** Says new debt facilities from SOL include three-year A$35
mln ($21.98 mln) new term loan facility and 18-month A$15 mln
additional working capital facility
    ** Says funds will help co repay short-term debt and support
restructuring plans 
    ** Stock hits highest level since Aug. 31; down 78.6% this
year, as of last close
($1 = 1.5926 Australian dollars)
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))