LONDON (Alliance News) - TMT Investments PLC Tuesday said it had invested USD200,000 in California-based Whale Path Inc through an unsecured convertible promissory note.
Whale Path offers an on-demand business research platform for companies, and claims to offer reports to clients much faster than rivals.
In a statement, TMT Investments, which invests in high-growth, internet-based companies across a variety of sectors, said the note has an interest rate of 5% a year and is repayable any time after the second anniversary of the note being issued with automatic and optional conversion terms.
TMT Investments shares last traded at USD1.975 in London.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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Tmt Investments (TMT)