Raketech Extends Credit Facility

October 04, 2023 – Raketech Group Holding Plc (Nasdaq: RAKE) announced today that the company has extended its revolving credit facility with standing partner Avida Finans AB until December 2024.

The agreed facility will be gradually reduced from EUR 15 million to EUR 10 million in March 2024 and subsequently to EUR 5 million from July 2024 up until December of the same year. Starting from March 2024, the interest on the facility will be increased by 0.25 percent per annum, amounting to EURIBOR plus 5.0 percent, with an additional upfront facility fee.