Verditek PLC - London-based company producing solar panels - Says that it has raised just over GBP350,000 through crowdfunding platform Crowd for Angels via a corporate green bond. The offer for the bond closed on July 31 and a statutory "cooling off" period ended on Monday.
The bond, yielding 7%, is for a term of two years and interest will be paid quarterly, Verditek notes. Security is by way of a floating charge on the assets of the company. Verditek will also issue to Crowd for Angels ten warrants for each GBP1 invested for a term of 36 months to subscribe for new shares at the closing bid price immediately prior to the date of the loan note agreements.
Current stock price: 3.80 pence, down 18% Tuesday
Year-to-date change: down 57%
By Will Paige; willpaige@alliancenews.com
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