ASX Briefs...everything...in three bullet points

Revasum has secured additional financing of up to US$1,500,000 from Firsthand Technologies through a new Note Purchase Agreement.
The Company will issue up to US$1,500,000 worth of promissory notes and warrants to subscribe for 4,000,000 shares of common stock to Firsthand Technologies or its nominee investor.
The Promissory Notes are currently unsecured but will become secured upon satisfaction of certain conditions and are subordinated to amounts owed by the Company under the LSA with SQN Venture Income Fund II, LP.

2023-04-13 09:53:00

Global semiconductor technology and equipment firm, Revasum, Inc. has entered into a non-binding term sheet with SQN Venture Partners LLC and Firsthand Capital Management, Inc.
Firsthand agrees to invest up to an additional US$2 million and the parties agree to amend the Note and Security Agreement between SQN and Revasum.
The Company had not met certain financial covenants under the Growth Capital Facility Agreement, resulting in an event of default.

2023-02-08 09:25:00

ASX Briefs...everything...in 3 bullet points