Cambridge Cognition Holdings Plc announced a private placement to issue 11.5% term loan for the gross proceeds of £3,000,000 on September 26, 2023. The transaction will include participation from new investor Claret European Specialty Lending Company III, S.à r.l. ("Claret"). The Loan will be drawn down in full immediately, has a fixed interest rate of 11.5% per annum and a term of 36 months.

The Loan will be repayable, with interest, in 30 monthly instalments following an initial six-month interest only period. The loan will be matured on September 26, 2026. The Company will issue investor with warrants to subscribe for £540,000 of new ordinary shares of £1 each.

The exercise price of the warrants will be the lower of the volume weighted average price of the Ordinary Shares in the 5 days preceding or post execution of the Loan.