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MyEco Group Raises $1.6m to Fund Cost-Cutting Restructure and Growth
3:11am on Monday 2nd of June, 2025 AEST
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Manufacturing
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MyEco Group Raises $1.6m to Fund Cost-Cutting Restructure and Growth
3:11am on Monday 2nd of June, 2025 AEST
Key Points
Raised $1.6m via unsecured convertible notes from sophisticated investors
Convertible notes carry 10.5% annual interest, convertible after 12 months
Operational restructure expected to cut $2.5m–$3.0m in annual fixed costs
Restructure includes production scaling in Southeast Asia and asset rationalisation
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