Funding update
Received delayed US$2m tranche of convertible funding facility; final US$2.198m payment expected by 31 October 2025.
- Funding facility size US$5,150,000
- Tranche received US$2,000,000 (prior delayed from 12 September)
- Final payment expected US$2,198,000
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SYME, the fintech business which provides an innovative fintech platform (the "Platform") for use by manufacturing and trading companies to access Inventory Monetisation© ("IM") solutions enabling their businesses to generate cashflow, announces the following update in respect of the US$5,150,000 on-demand convertible funding facility signed on 18 March 2025, and amended on 10 June 2025 and 29 August 2025, with Nuburu Inc., a NYSE listed (NYSE American: BURU) high-tech company of which Alessandro Zamboni, a director of the Company, is Executive Chairman ("BURU") (the "Amended On-Demand Facility").
As set out in the announcement dated 1 September 2025, SYME was due to receive the next tranche under the Amended On-Demand Facility of US$2,000,000 on or before 12 September 2025. However, as set out in the announcement dated 15 September 2025, this amount had not been received as at that date.
The Company is pleased to confirm that this amount of US$2,000,000 was received from BURU on 17 September 2025. The latest communication that the board of directors of SYME has had with BURU, via Alessandro Zamboni, is that BURU currently expects to make the final payment of US$2,198,000 on or before 31 October 2025 in line with the payment schedule included in the Amended On-Demand Facility. The Company will issue further updates as required.
Notes
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