SINGULUS TECHNOLOGIES reorganizes Financing Structure

SINGULUS TECHNOLOGIES reorganizes Financing Structure

Kahl am Main, December 30, 2024 – SINGULUS TECHNOLOGIES was able to reorganize the financing structure with its largest shareholder, Triumph Science & Technology Group Co. Ltd., Beijing, China (“Triumph”), a subsidiary of CNBM Group, Beijing, China. Triumph had provided SINGULUS TECHNOLOGIES with financing of € 20.0 million in fiscal year 2023.

SINGULUS TECHNOLOGIES and Triumph have now agreed to offset € 10.3 million of SINGULUS TECHNOLOGIES’ existing trade receivables against the outstanding liabilities from this financing. The two parties reclassified the remaining € 9.7 million liabilities under this financing as advance payments on existing contracts for the manufacture and delivery of equipment. This means that the obligation to repay the financing in the amount of € 20.0 million no longer applies.