Supply@ME Capital PLC (LON:SYME), the online inventory finance platform, said it has chosen to issue its securitised note to one investment group rather than syndicate it.
In a statement, SYME said that following detailed evaluation it has agreed to partner on an exclusive basis with a global investment fund whose intention is to subscribe for the whole of the first issuance and become an ongoing partner of the company.
“Whilst this decision has put back slightly the date of completion of the first issuance, the opportunity to form an ongoing partnership with the Investor will provide valuable benefits to SYME, both in the short and long-term,” the group said in the statement.
SYME added the investor concerned is a global alternative investment fund manager with a portfolio valued at more than US$70bn that specialises in capital markets solutions across many asset classes.
Going forward, the fund also intends to form a partnership to support the growth of Supply@ME’s inventory monetisation platform.
Supply@ME noted that the client companies included in the first Inventory Monetisation transaction are now fully on-boarded.
Final negotiations, operating and regulatory tasks are proceeding well said SYME and the objective is to complete the first transaction in the coming weeks together with a scalable funding agreement that enables the Investor to increase its investment and monetise additional Client Companies that are in the pipeline.