AMTE Power Plc (LON:AMTE, 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.
