RC365 Holding (LSE:RCGH), a payment solutions and fintech company operating across East and Southeast Asia, has secured a $2 million unsecured credit facility provided by Chief Executive Chi Kit Law, alongside a share placing, to support platform development and customer growth.
The facility carries no interest, no commitment or arrangement fees, and runs for an initial 24-month term, with drawdowns available on three business days' notice subject to the lender's funding availability.
Amounts drawn are repayable at the end of the term, with the option to prepay at any time without penalty, and the company is under no obligation to draw any funds. In connection with the placing, the company will issue 2.39 million broker warrants to Bowsprit Partners, exercisable at the placing price for three years from admission.
"By making this interest-free standby facility available, I am pleased to provide the company with additional financial flexibility to support its continued development and future growth," said Law, citing the recent launch of the RC3.0 platform as the backdrop for the funding.
