Advent Technologies Enters $1M Debt Deal, Three Investor-Nominated Directors Appointed

ADVENT TECHNOLOGIES HOLDINGS, INC.

Advent Technologies signed a Securities Purchase Agreement with an institutional investor for a $1,000,000 senior promissory note at 18% interest, due in one year.
Investor committed a $2,000,000 revolving line of credit, contingent on Advent filing an S-1 for a public offering of at least $5,000,000.
Conditions include CEO salary cut by at least 50% and salary reductions for all other employees up to 50%.
Five directors (Nora Goudroupi, Anggelos Skutaris, Larry Epstein, Wayne Threatt, Von McConnell) will resign; Katie Field, Richard Paolone, Avtar Dhaliwal appointed.
Closing also requires Advent to file its 2023 Form 10-K; change in control as Investor appoints majority of board.

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