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Thalassa to lend up to £2.5 million to clinical testing group LML
StockMarketWire.com
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Investment group Thalassa said it had agreed to lend up to £2.5 million to LML, a clinical testing specialist and provider of pathology diagnostics services.
The financing, to be used by LML to fund the opening of new phlebotomy clinical facilities and increase the capacity of existing facilities, had a three-year term.
Thalassa said the financing was a precursor to LML seeking a possible AIM admission.
It had committed to convert and subscribe for shares issued in the admission, equal in value to the committed amount of the financing plus a rolled up return on any sums drawn down.
LML also had issued three-year warrants to Thalassa carrying the right to subscribe for shares representing 8% of the company.
At 9:27am: (LON:THAL) Thalassa Holdings Ltd share price was 0p at 53.5p
Story provided by StockMarketWire.com
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