Webuy Entered Into A Definitive Agreement For Senior Convertible Debt With An Initial Principal Amount Of $2M, And Up To An Additional $4M With An Accredited Institutional Investor Upon Mutual Agreement
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Webuy Global Ltd. (NASDAQ:WBUY) has entered into a definitive agreement for senior convertible debt with an initial principal amount of $2 million, and up to an additional $4 million upon mutual agreement with an accredited institutional investor. The initial conversion price is $0.213 per share, and the notes bear zero interest with monthly payments in cash or stock.
August 09, 2024 | 1:02 pm
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Webuy Global Ltd. has secured $2 million in senior convertible debt with potential for an additional $4 million. The initial conversion price is set at $0.213 per share, and the notes bear zero interest with flexible monthly payments.
The agreement for senior convertible debt provides Webuy with immediate capital and potential for additional funding, which can be used for growth and operations. The zero-interest feature and flexible payment options are favorable terms that could positively impact the company's financial stability and stock price in the short term.
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