Spectur Limited (ASX: $SP3) R&D Tax Return Advance

Spectur Limited (ASX: $SP3) has elected to utilize a Radium R&D advance facility of $271k, drawn on 9 August 2024. The short term loan facility is secured against the FY24 R&D tax return and has an annual interest rate of 16%. The decision was made following the closure of an entitlement offer in May 2024, where Spectur had a shortfall of approximately $465k.

Spectur Managing Director's Perspective

Spectur Managing Director, Gerard Dyson, explained, 'Spectur is ahead of where we thought we would be in our cashflow modelling for July 2024, so this has not been an easy or obvious decision. Given recent market events and the relatively low incremental cost of proceeding, we nevertheless have decided to take the conservative, low-cost approach and draw down the facility for the next few months.' He also expressed confidence in the market guidance on revenue and EBITDA provided in June 2024.

Summary of Spectur's R&D Tax Return Advance

Spectur Limited (ASX: $SP3) has chosen to utilize a short term loan facility from Radium Capital, secured against the FY24 R&D tax return, to address the shortfall following the closure of an entitlement offer in May 2024. The decision was influenced by immediate market risks, known one-off cash needs for Q1 FY25, and the desire for maximum cash availability for pending sales opportunities or unplanned delays in order placements. Spectur's Managing Director expressed confidence in the company's market guidance on revenue and EBITDA provided in June 2024, indicating a positive outlook for the future.