Seeing Machines (AIM:SEE), the AIM-listed computer vision company focused on transport safety, says it is in advanced discussions with several potential lenders to refinance its convertible note ahead of its 4 October maturity date.
The company has received multiple term sheets and expects to complete the process well in advance of that deadline, subject to documentation.
The update extends a process first flagged at the company's interim results on 27 March, with completion now expected to run beyond the end of its financial year 2026 as management focuses on securing the most attractive terms available.
"We are in advanced discussions with a number of lenders and have received multiple term sheets," said CEO Paul McGlone. "Due to good interest from lenders and our focus on securing the most attractive terms for the company, the process will go beyond the end of FY2026."
The convertible note was originally issued in October 2022.
