IBEX repays $25m seller note to TRGI

January 14, 2025 (MLN): IBEX Limited has fully repaid its $25 million convertible promissory note ("Seller Note") On January 9, 2025, originally issued on November 19, 2024, as part of a $70 million purchase agreement with The Resource Group International Limited (TRGI), according to a recent 8-K filing with the Securities and Exchange Commission. 

The agreement included the acquisition of 3,562,341 issued and outstanding common shares of IBEX, with $45 million paid in cash and $25m structured as the Seller Note.

The repayment was facilitated through IBEX’s credit lines with HSBC Bank USA, National Association, and HSBC Bank Middle East Limited. 

With this settlement, the Seller Note has been terminated following its terms, marking the conclusion of the transaction.

IBEX Limited entered into a purchase agreement with TRGI, a Bermuda-based exempted company, to acquire 3,562,341 issued and outstanding common shares of the Company.

The total transaction value was $70m, consisting of a $45m cash payment and a $25m convertible promissory note issued by IBEX to TRGI on the Closing Date.

Copyright Mettis Link News