Letoon Holding Ltd (LHL), a UK-based company, has secured a significant capital commitment of £20 million from Nimbus Capital, a private investment group specializing in financing transformational change and dynamic growth. Nimbus Capital manages a diverse portfolio of investment vehicles and offers flexible funding solutions to growing businesses worldwide.
The agreement between LHL and Nimbus Capital involves a Growth Equity Agreement of up to £20 million, which will be in effect for 36 months following LHL’s public listing on the London Stock Exchange (LSE). This arrangement provides LHL with the assurance of capital upon listing on the stock exchange.
Key points of the agreement include LHL’s control over the timing and maximum number of drawdowns, with no minimum drawdown obligation. Additionally, once LHL’s shares are publicly listed, the company will issue warrants to Nimbus Capital, enabling them to purchase up to 6% of LHL’s common stock.
This significant partnership with Nimbus Capital enables LHL to pursue its mission of reclaiming high-value-added ingredients from food waste and various botanicals. LHL plans to achieve this by leveraging proven technology and developing new patented processes and products.
Matteo Turi, LHL’s President & CEO, expressed excitement about the partnership, highlighting its groundbreaking nature. He emphasized their goal of reshaping the landscape for eco-friendly commodity reclamation from vegetable and botanical matrices, using established scientific techniques. Turi also noted the potential for a more sustainable, technology-driven circular economy, where food waste can be processed into valuable ingredients with global industrial demand, rather than being discarded as compost.
Nimbus Capital is committed to being LHL’s key strategic financial partner and a long-term investor. They aim to provide unwavering support as LHL prepares for its public listing on the LSE.
LHL’s core mission is the recovery of precious lycopene from tomato waste for use in the pharmaceutical and nutraceutical industries, as well as other natural compounds found in various food waste and botanicals. Their validated process promises a higher yield and grade of recovery, positioning them to make a significant impact in the industry.
In summary, LHL has secured a substantial capital commitment from Nimbus Capital, which will enable them to advance their eco-friendly commodity reclamation efforts and contribute to a more sustainable and tech-driven circular economy. This partnership marks a pivotal moment for LHL as they prepare for their public listing on the LSE and work towards a more efficient use of food waste and botanical resources in various industries.