Clean Diesel Technologies, Inc., a leader in advanced emission control technology, announced it has amended all loan agreements with Kanis S.A. to extend the maturity dates to Oct. 1, 2016. In addition, the $3 million Convertible Note is no longer callable by the lender.
According to Chris Harris, CDTi president and CEO, “Amending and extending our loan agreements provide us with greater financial flexibility while executing our growth strategy. We believe this transaction demonstrates our long-time investor’s support and confidence in CDTi’s strategy to capitalize on our breakthrough Spinel catalyst technology, strengthen our intellectual property portfolio and target growth opportunities in the sizeable heavy-duty diesel replacement filter market.”
Additional detail on the amended agreements and the original loans can be found on the CDTi Current Report on Form 8-K filed with the Securities and Exchange Commission today, as well as the company’s most recent Quarterly Report on Form 10-Q, the company says.