REC Silicon - Announces the Close of a USD 13.0 million Short Term Loan with Anchor AS

Summary by AI BETAClose X

REC Silicon ASA has secured a USD 13.0 million unsecured short-term loan from Anchor AS, a subsidiary of its largest shareholders, to address urgent operational capital needs. This loan, with identical terms to a previous USD 7.0 million facility and a maturity date of May 14, 2026, highlights the company's current lack of sufficient cash to meet its financial obligations without continued support from its major shareholder or additional, yet unfinalized, financing.

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