HMBL - HUMBL closes $2.5M in two new bridge round investments

HUMBL ([[HMBL]]) closed on $2.5M in two new financings which will be used as a bridge to help HUMBL get to its $50M equity financing agreement.Led by the financings, the company has $6M in free cash in its bank account currently.In exchange for $1.5M in cash, the company issued to the first investor group $1.53M in convertible promissory notes; notes bear interest at 8% annually and convertible at the investors’ election at a fixed price of $1/share.Notes are due in 22 months.Also, it issued warrants to purchase 3M shares; warrants are cash exercise only.The company raised funds through a separate offering with Archura Capital wherein in exchanged for $1M it issued to Archura a $1.02M convertible promissory note.Proceeds will be used for general operating expenses, with a focus on additional technology team members in both its fiat currency and blockchain units of HUMBL Mobile Pay, HUMBL Ticketing and HUMBL NFTs.

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HUMBL closes $2.5M in two new bridge round investments