Dev Clever announced that it has obtained an up to USD 30 million three-year unsecured funding facility with RiverFort Global Opportunities PCC Limited . The Facility provides Dev Clever with a significantly strengthened balance sheet and enables it to pursue the global EdTech growth opportunity with sustained confidence. Dev Clever's ability to draw down on the Facility is dependent on the satisfaction of the drawdown conditions, principally its re-admission to the standard segment of the Main Market of the London Stock Exchange.

Upon Re-admission, an initial amount of USD 5 million will be available to be advanced to Dev Clever within 20 business days of Re-admission per the terms of the funding agreement . Dev Clever will then have access to further capital up to the total commitment amount as mutually agreed between the Company and RiverFort. The term of the Facility is for a period of 36 months from 20 August 2022.

Re-admission is contingent on the publication of a prospectus and FCA approval of eligibility. Work towards this continues to progress.