Airline e-commerce platform Datalex said it intends to launch a €25m equity fundraising in the early Autumn.
The company said the potential fundraising, if completed, is expected to enable it to repay in entirety its existing loan facility with Tireragh Limited.
It will also provide sufficient working capital to invest further in its product roadmap and activation projects, while continuing to compete for new revenue opportunities, it added.
Datalex is holding its AGM in Dublin today.
David Hargaden, Datalex's chairman, said there is no certainty at this stage that the potential fundraising will complete, nor its timing or terms.
Further announcements will be made in due course as appropriate, he added.
Datalex said last month that Tireragh Limited had informed the group that, in the event that Datalex does not complete its planned equity fundraising, and subject to terms and conditions to be agreed, it will extend the termination date of the existing Tireragh Limited loan facility from 31 December 2024 to 1 July 2025.
It also said that its board has the support of Dermot Desmond, the group's largest ultimate beneficial shareholder.
