NuRAN Wireless secures $10 million non-dilutive revolving credit facility
NUR•NuRAN Wireless entered into a $10 million non-convertible revolving credit facility with a lender representing a supporting shareholder group. The facility will fund working capital and tower construction until January 1, 2028, unless extended by mutual agreement.
1. Credit facility terms
The facility has no equity-linked features, and borrowings will not dilute existing shareholders. First-ranking security covers the borrower and certain non-African subsidiaries, excluding African operating subsidiaries, their assets and equity interests.
2. At-the-market program
Management said it will not use the at-the-market equity program at current prices; no shares have been sold under the program.
