Catenai extends convertible loan note facility with Klarian

(Sharecast News) - Digital media and technology specialist Catenai announced an extension to the redemption date of its £0.45m unsecured convertible loan note (CLN) facility with Klarian on Monday. The AIM-traded firm, formerly known as Catenae Innovation, said the redemption date was pushed back from 31 December 2024 to 30 June 2025, as Klarian continued discussions with potential customers and investors.

Klarian recently raised $0.25m at a pre-money valuation of about £10m from a new investor with significant industry experience, Catenai explained.

Catenai said it was focussed on managing its working capital position while supporting Klarian's progress.

At 1011 GMT, shares in Catenai were down 25% at 0.15p.

Reporting by Josh White for Sharecast.com.