NEW YORK, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Raadr, Inc., now doing business as Telvantis (OTC PINK: RDAR) ("Telvantis" or the "Company"), is excited to announce the establishment of a new $45 million secured working capital facility. This strategic financial arrangement strengthens the Company's foundation by lowering fixed-interest expenses and providing increased access to funding for growth initiatives, marking a significant milestone in the company's mission to deliver innovative solutions in the telecommunications sector.
This new facility, secured through the company's Irish subsidiary in collaboration with a leading European credit fund, replaces a previous unsecured loan. Designed to enhance cost-efficiency and operational flexibility, the facility includes a five-year amortization term and reduced financing costs, aligning with Telvantis' ambitious growth strategy.
"This working capital facility opens new doors for Telvantis to achieve faster growth at a lower cost," said Orlando Taddeo, President of Telvantis. "By partnering with a top-tier financial institution, we've secured a structure that reduces our fixed interest expenses and provides us with the resources needed to drive revenue growth and pursue new opportunities. This is a pivotal moment in our journey, and we're energized by the possibilities ahead."
With these new financial arrangements, Telvantis is better positioned to expand its footprint and deliver shareholder value. This positive financial milestone underscores the Company's commitment to growth and operational excellence.
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Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates, and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and the company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
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Source: https://www.telvantis.com
