2023-03-16 08:59:27 ET
- Tenet Fintech ( OTCPK:PKKFF ) entered into an engagement letter with Research Capital (RCC) for private placement offering of a minimum of 1K units and a maximum of 2.5K units of non-secured convertible debentures for gross proceeds of a minimum of $10M and maximum of $25M.
- The company will also grant to RCC an over-allotment option to offer up to an additional 15% of units or up to an additional 375 units.
- Each unit consists of $10K , face value, of non-secured convertible debentures and 10K warrants to purchase shares at $2/share.
- The securities issued in relation to the offering are subject to a hold period of four months and one day from the offer closing date which is on or about Apr.27, 2023.
For further details see:
Tenet Fintech launches unsecured convertible debentures offering for up to $25M