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  • Qoria (QOR) secures a $30 million debt facility with Ashgrove Capital
  • The facility enables balance sheet consolidation and repayment of convertible notes, providing financial flexibility
  • Qoria can now focus on becoming a leading global provider of safety and student wellbeing solutions
  • Qoria was last trading at 23.8 cents

Qoria (QOR) has executed binding transaction documents for a $30 million debt facility.

The facility has been provided by Ashgrove Capital, a London-based global debt provider specialising in software and services growth companies.

This $30 million Growth Facility facility allows the company to consolidate its balance sheet, streamlining its financial position for improved stability.

It also provides the necessary funds to manage the repayment of convertible notes due to mature in January 2024 and July 2024, contributing to a more efficient capital structure.

Most importantly, the Growth Facility offers Qoria financial flexibility to pursue its strategic growth initiatives.

With this debt facility in place, Qoria can now fully focus on executing its plan to become a leading global provider of safety and student wellbeing solutions within the next three years.

By securing the necessary funding, the company can also accelerate its growth trajectory and strengthen its position in the market.

“Securing this facility provides a flexible and non-dilutive solution to fund our various strategic growth initiatives as we start delivering positive operating cash flow,” Qoria Chief Executive Officer Tim Levy said.

Qoria was last trading at 24 cents.

QOR by the numbers
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