Atomos (ASX:AMS) signed a AU$13.7 million debt facility with Monreii Pty Ltd to provide a funding runway to reach forecast cashflow positive in fiscal year 2026, according to a Wednesday filing with the Australian bourse.
The facility will mature on Feb. 28, 2027, and bears a 16% interest rate per annum. Annual fee is 4%. Part of the facility will be used to repay Atomos' existing unsecured loan of AU$8.7 million.
Atomos Chair James Joughin said: "Despite the significant steps we have taken to realign the cost base, cash flows have continued to be impacted by one-off and legacy-related items - such as legal settlement payments, staff redundancies and supplier payment plans (related FY24) - delaying our ability to reach cashflow breakeven."
Monreii is an entity owned by Atomos executive director, Peter Barber.
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