INSIDERS LIKELY TO BUY D-BOX The company is able to obtain banking supports, while its share price is extremely depressed. How is this logical?
It is just a matter of time before either insiders will take over the company themselves or let it go to National Bank of Canada or Business Development Bank of Canada.
It doesn't appear that a D-BOX competitor is interested in a buyout.
“Our Group is a staunch ally of companies in the technology and innovation sectors,” said Maxime Page, Director, Technology and Innovation Banking at NBC. “We believe in the growth potential of D-BOX as well as in their business strategy, and are pleased to support them in their future projects.”
Montral, Qubec, October 16, 2023 – D-BOX Technologies Inc. (“D-BOX” or the "Corporation") (TSX: DBO) a world leader in haptic and immersive entertainment, today announced it had entered into amending agreements relating to its loan facilities with the National Bank of Canada (“NBC”), via its Technology and Innovation Banking Group, and the Business Development Bank of Canada (“BDC”), providing for, among other things:
- An upsize of its operating line of credit with NBC from CAD$4 million to CAD$5.5 million, a reduction of the applicable interest rates for CAD and USD loans by 75 basis points from prime plus 3.25% to prime plus 2.50% and certain changes to the Corporation’s financial covenants;
- An extension of the maturity of the CAD$1 million term loan entered into in September 2021 with NBC and guaranteed by the BDC as part of the Highly Affected Sectors Credit Availability Program, from September 7, 2024, to September 30, 2025;
- An extension of the maturity of the CAD$2 million term loan entered into in July 2020 with the BDC, from June 2026 to June 2028.