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In an exciting development, Letoon Holding, a London-based company renowned for specializing in ultrasonic reclamation techniques to extract high-value ingredients from vegetable waste and botanical products, has secured an impressive £20 million in funding.
The infusion of capital comes courtesy of Nimbus Capital, a distinguished player in the investment landscape. Under the terms of this groundbreaking agreement, Nimbus Capital commits to providing Letoon Holding with a Growth Equity Agreement of up to £20 million, spanning 36 months following the company's anticipated public listing on the prestigious London Stock Exchange (LSE). What sets this agreement apart is that Letoon Holding retains complete control over the timing and the maximum number of drawdowns, with absolutely no minimum drawdown obligation. Moreover, with the company's imminent public listing, Letoon Holding will extend warrants to Nimbus Capital, allowing it to acquire up to 6% of its common stock.
At the helm of Letoon Holding is none other than CEO President and CEO Matteo Turi. Under his visionary leadership, Letoon has demonstrated its scientific prowess and showcased innovative ultrasonic reclamation expertise. This transformative technology breathes new life into vegetable waste and plant matter, elevating them into highly sought-after nutrients and ingredients that cater to the global pharmaceutical, cosmetic, and food industries.
With the newly secured funds, Letoon Holding is poised to solidify its standing as a global leader in high-value ingredient recovery from vegetable waste and botanical products, further bolstering its contributions to the pharmaceutical, cosmetic, and food sectors. This exciting development signals a bright future for Letoon Holding and the industries it serves.