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Radient Technologies (TSXV:RTI,OTCQX:RDDTF) has announced a total financing package of up to C$15.4 million through the issuance of up to C$10.4 million of unsecured convertible notes and up to C$5 million of unsecured debentures.

As quoted in the press release:

$10.4 Million Note Financing with Institutional Investor

Radient has entered into a non-binding Letter of Intent (the LOI”) with an institutional investor to subscribe for up to CAD $10,400,000 of convertible notes (the “Notes”).  Attached to the Notes will be share purchase warrants with the terms described below (the “Warrants”).

The Notes and accompanying Warrants shall be issuable in separate tranches (each a “Tranche“). The Notes shall be convertible into, and the Warrants shall be exercisable for, common shares (“Common Shares“) in the capital of the Company, at prices to be determined at the closing of each Tranche.

The Company shall issue the Notes in the principal amount of $2,000,000 for the two initial tranches (the “Initial Tranche“) and shall issue Notes in the principal amount of $800,000 for each subsequent Tranche (each, a “Subsequent Tranche“) based on a liquidity multiple and, in respect of each Tranche, accompanying Warrants, as described herein. The subscription price for each Note is 95% of its face value and the Notes shall bear no interest and the maturity date of the Notes shall be for a month.

Click here to read the full press release.


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The post Radient Announces up to C$15.4 Million in Debenture Financing appeared first on Investing News Network.



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