Celsius expects to receive $70M loan repayment to fund operati | Crypto World Analysis

Celsius expects to receive $70M loan repayment to fund operations beyond November

Crypto lender Celsius expects $70 million from loan repayments that will extend its runway cost beyond November. The cash flow forecast submitted by Celsius during the bankruptcy hearing on Sept. 1 disclosed that the company will record an inflow of about $70 million from repayment of USD-denominated loans.

The loans are expected to be repaid by Oct. 7 and will help cover business and restructuring costs. The forecast which detailed cash flow from September to November shows Celsius will have a disposable income of over $42 million by the end of November. The beginning cash balance at the start of September is approximately $133 million, while it projects a total of $69 million incurred as operating costs over the next three months. Consequently, Celsius will have more liquidity to continue operating till the end of 2022.

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@CryptoWorldAnalysis