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Yorkville Advisors Completes €10M Equity Facility with Qurius

Yorkville Advisors Completes €10M Equity Facility with Qurius

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Published by YorkvilleAdvisors
Yorkville Advisors, LLC (Yorkville), the US-based alternative investment manager, is pleased to announce it has entered into a €10 million Standby Equity Distribution Agreement (SEDA) on behalf of YA Global Master SPV Ltd. (YA Global) with IT solutions provider Qurius N.V. of the Netherlands.
Yorkville Advisors, LLC (Yorkville), the US-based alternative investment manager, is pleased to announce it has entered into a €10 million Standby Equity Distribution Agreement (SEDA) on behalf of YA Global Master SPV Ltd. (YA Global) with IT solutions provider Qurius N.V. of the Netherlands.

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Categories:Business/Law, Finance
Published by: YorkvilleAdvisors on Jun 22, 2011
Copyright:Attribution Non-commercial

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06/22/2011

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 Yorkville Advisors Completes €10M Equity Facility with Qurius
(Jersey City, NJ – June 17, 2011) Yorkville Advisors, LLC (Yorkville), the US-basedalternative investment manager, is pleased to announce it has entered into a €10 millionStandby Equity Distribution Agreement (SEDA) on behalf of YA Global Master SPVLtd. (YA Global) with IT solutions provider Qurius N.V. of the Netherlands.Qurius entered into the SEDA to accelerate the pace of development of high marginproducts and solutions. The additional capital enables Qurius to intensify thedevelopment of front end applications based on Qurius’ existing customer expertise indefined mid market verticals. Successful projects in this domain are underway, and cannow be accelerated. The SEDA also allows Qurius to reposition its existing loan facilitywith Dutch bank NIBC.Pioneered 10 years ago by Yorkville, a SEDA offers companies a low risk, cost effectiveway of optimizing their capital structure in pursuit of their growth strategy. Pursuant tothe terms of the SEDA, Qurius has the discretion to withdraw funds of up to €10 millionin tranches in exchange for the issue of new equity for a period of 36 months pursuant tothe terms of the transaction documents.At its sole discretion, Qurius can notify YA Global that it requires it to buy shares at 97%of the lowest daily volume weighted average share price based off of the EuronextAmsterdam (QRUIS NA) pricing during the five or ten (at Qurius’ option) trading daysfollowing such notification. YA Global will also receive a commission of 3% on anyamounts drawn.Leen Zevenbergen, Chief Executive Officer of Qurius, stated: “Gaining access toadditional funding on demand allows our organization to set the timeline for developmentof advanced applications. Yorkville understands our goals of sustainability, innovationand creating new ways of working globally.”Brian Kinane, Managing Director, Yorkville Advisors, said “At Yorkville, we share theQurius belief – that the future of technology solution delivery will be better achievedthrough the combination of cloud computing and products based on intellectual property.We hope that our financing capabilities will assist Qurius in achieving its strategicobjectives.”
 
About Yorkville Advisors
Yorkville Advisors LP is a US-based alternative investment manager.Founded in January 2001 by Mark Angelo, Yorkville specializes in providing flexible,innovative debt and equity investments and financing in publicly listed companies in avariety of sectors including energy, mining, technology media & telecommunication(TMT), healthcare and shipping.

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