OxPay Financial Limited (SG:TVV) has released an update.
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OxPay Financial Limited has secured a convertible loan of up to S$2 million from Oxley Capital Management, with disbursements in four equal tranches and an interest rate of 6.9% per annum. The agreement enables the lender, led by the firm’s Non-Executive Non-Independent Chairman and major shareholder, to convert the loan into company shares. This strategic financial move aims to strengthen OxPay’s financial position over a 24-month availability period.
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