Asia-Pacific Strategic Investments' (SGX:5RA) SG$5 million convertible loan facility lapsed after lenders failed to transfer the funds within the agreement period, according to a filing with the Singapore bourse on Wednesday.
The company had signed loan agreements with Eastern Billion Industries and Passion9 in May, and noted that all conditions precedent to drawdown had been satisfied.
Asia-Pacific Strategic does not expect the lapse to have any material adverse financial impact. The company is currently evaluating alternative funding options.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments