Cambridge Cognition Holdings plc (LON:COG), which develops and markets digital solutions to assess brain health, has announced that the Company has obtained a £3.0 million loan from Claret European Specialty Lending Company III, S.à r.l. Claret specialises in providing growth capital to innovative businesses. The Loan proceeds will provide the Group with additional working capital and enable investment in product development and solution integration.
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 is secured over assets of the Company.