# AMTE Power signs convertible loan facility

- Link: https://www.directorstalkinterviews.com/amte-power-signs-convertible-loan-facility/4121088941
- Published: 2022-11-04T12:20:33+00:00
- Author: Amilia Stone

**AMTE Power Plc** ([LON:AMTE](https://www.directorstalkinterviews.com/company/amte-power-plc/amte.l),
a leading developer and manufacturer of lithium-ion and sodium-ion battery cells
for specialist markets, has announced that, following the passing of the Resolutions
at the General Meeting held yesterday, it has entered into Definitive Documents 
relating to the convertible bond facility (the “Facility”) announced on 17 October
2022 (the “Previous Announcement”). The terms of the Definitive Documents are in
line with the description of the Heads of Terms provided in the Previous Announcement.

The Company has today issued a tranche 1 drawdown notice in respect of the first
£3.0 million of the Facility. In accordance with the terms of the Definitive Documents,
the Company expects the Tranche 1 Issue Date (as defined in the Definitive Documents)
to be within 5 Business Days of today’s date.  On such date, AMTE Power will, subject
to the receipt of the necessary funds from Arena, issue the convertible bonds required
to be issued in respect of tranche 1 of the Facility and 1,829,269 warrants to subscribe
for Ordinary Shares to drawdown gross proceeds of £3.0 million.

The maximum proceeds of the Facility (net of expenses and Facility fees, excluding
VAT) are expected to amount to c.£3.92 million.

Capitalised terms in this announcement shall have the same meaning as in the Previous
Announcement.

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