14 January 2019
Australian Securities Exchange (ASX) Announcement
Sensera Limited (ASX: SE1, “Sensera” or “the Company”), an Internet of Things (IoT) solution provider that delivers sensor
-based products transforming real-time data into meaningful information, action and value, is pleased to advise that the Company has entered into a credit agreement with invoice and supply chain finance provider Timelio Pty Ltd against working capital assets of Sensera.
The facility is based on Sensera’s contract with animal health specialists Smartbow/Zoetis which is guaranteed for FY19 and FY20. The Company has started shipping against this contract which supports Sensera’s drive towards operating profitability later in FY19.
The extended cycle time of the supply chain for both chips and complete system components makes this an attractive capital structure to free up cash for other Company needs.
Sensera CFO, Dave Garrison, said:
“During the last capital raise we minimised dilution based on our plan to close a credit facility to fund working
capital. I am happy to say that we have delivered on this commitment to our investors.
“Securing this facility allows us to fund the working capital Sensera needs to meet the Company’s forecast of more than 70% revenue growth in FY19 and operating profitability by the end of the current financial year.”
Sensera will continue to consider opportunities to optimise its capital structure through infusions of credit to fund potential accretive acquisitions and strategic product development to accelerate the Company’s growth and profitability.