Rapid Nutrition PLC and ASO Mutually Agree to Terminate the Second Tranche of the Amortized Convertible Loan Facility
- Termination of the second tranche amortized convertible loan facility
- Successful progression in repayment of the majority of the convertible amortization loan bonds
- Anticipates repayment of the loan in Q1-2024
London, United Kingdom – 6 November 2023 - Rapid Nutrition PLC (Euronext Growth: ALRPD): In a strategic move that underscores its forward-thinking approach, Rapid Nutrition, an innovative company in the health and nutrition sector, and the investor (“ASO”) have mutually agreed to terminate the utilization of the second tranche of the amortized convertible loan facility. This collaborative decision reflects the commitment to maintaining financial flexibility and adopting a prudent capital management strategy. The termination follows a comprehensive evaluation and ongoing strategic assessment.
Rapid Nutrition has successfully paid back more than half of the convertible amortization loan, demonstrating the company’s commitment to fulfilling its financial obligations in a timely manner. Anticipating the completion of the remaining amortized convertible loan, Rapid Nutrition expects full repayment by Q1-2024.
This mutual agreement to terminate the second tranche demonstrates Rapid Nutrition and ASO’s shared approach to adaptability and agility in response to evolving industry landscapes. It underlines their dedication to ensuring optimal positioning through judicious financial management in a dynamic sector.
Building on its recent H1 2023 financial disclosure, "Navigating a Healthy Future: Rapid Nutrition Announces Financial and Strategic Milestones", the company's trajectory leans into an enduring, long-term funding model post full conversion.
"Our actions consistently resonate with our strategy of ensuring optimal positioning in a dynamic sector," commented Simon St Ledger, CEO of Rapid Nutrition PLC. "As industry landscapes evolve, we believe stakeholders will discern the inherent value propositions of enterprises that remain agile and judicious in their financial endeavors."
Rapid Nutrition's recent strategic steps position it prominently within a sector witnessing significant growth.
For a comprehensive understanding of the company's H1 2023 milestones, and surrounding the original agreement with Atlas Special Opportunities LLC are accessible on the company’s website.
Rapid Nutrition PLC remains grateful for the unyielding trust from shareholders, partners, and the broader investment community. The company’s commitment to fostering growth and delivering unparalleled value remains stronger than ever.
About Rapid Nutrition
Rapid Nutrition is a leading health and wellness company committed to providing innovative solutions for a healthier world. With a focus on research-backed formulas, we empower individuals to optimize their well-being and face life's challenges with confidence.
For more information, please visit http://rnplc.com
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