Avacta Therapeutics (AIM: AVCT) has settled an accelerated deferred convertible bond repayment of £2.613 million in cash, reducing the remaining principal under the facility to £12 million.
The payment relates to the April 2026 quarterly amortisation instalment and comprises £2.4 million of principal plus associated interest and deferment fees.
Avacta said the bondholder issued an accelerated payment notice for the deferred instalment, with the company electing to settle the amount in cash rather than through conversion into shares.
Following the payment, both previously deferred quarterly repayments have now been satisfied.
Together with the scheduled July 2026 repayment, which was also made in cash, the latest settlement reduces the outstanding convertible bond principal to £12.0 million.
Avacta said the remaining principal now represents approximately 3.8% of the company’s market capitalisation.
