EnviroSuite Ltd (AU:EVS) has released an update.
EnviroSuite Ltd has bolstered its financial position by expanding its debt funding agreement with Partners for Growth to $12.5 million, a move that supports the company’s growth, bundles of software and hardware contracts, and transition to profitability. The revised terms of the facility also increase the borrowing capacity to 3.5 times the company’s recurring revenue over the past three months. EnviroSuite CEO Jason Cooper expressed confidence in this strategic alignment with the company’s objectives and indicated no immediate plans for further capital raising to fund organic growth.
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