Metavista3D obtains $12.5M loan from UAE investor

Executive Summary

• Metavista3D Inc. has entered into a loan agreement with a United Arab Emirates-based investor, granting the company access to up to $12.5 million in aggregate principal funding.
• The loan allows for discretionary drawdowns until August 31, 2027, with an initial advance of €2 million (approximately $3.25 million) and an interest rate of 3% per annum.
• The agreement includes a mandatory repayment and termination clause if the company secures third-party financing exceeding the outstanding loan balance, with proceeds designated for general business and R&D development.

Key Details

• Loan Structure: Maximum aggregate principal amount of $12.5 million.
• Availability: Funds available for drawdown at the company's sole discretion until August 31, 2027.
• Initial Advance: First advance set at two million euros (approximately $3.25 million).
• Interest Rate: 3% per annum on the advanced outstanding principal amount.
• Repayment/Termination Clause: If Metavista3D obtains additional third-party financing greater than the then-outstanding principal, the company must repay the outstanding principal and accrued interest in full, terminating the loan agreement.
• Use of Proceeds: Exclusively for the development of the business or its subsidiaries, specifically for research and development and expanding technology capabilities. No specific allocation has been made at this time.
• Lender Status: The lender is not a related party under Multilateral Instrument 61-101 but owns approximately 9.07% of the issued and outstanding voting securities of the company.
• Company Profile: Metavista3D develops AI-driven pseudo-holographic display technologies for glasses-free 3-D visualization, holding over 20 patents. Listed on TSX Venture (DDD) and Frankfurt Stock Exchange (E3T).