Scryb Announces Non-Brokered Private Placement of Secured Convertible Debentures
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Scryb Inc. announced a non-brokered private placement of secured convertible debentures to raise up to $2 million. The debentures have a 12% annual interest rate and can be converted into common shares at $0.05 per share.
January 06, 2025 | 2:15 am
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Scryb Inc. is raising up to $2 million through a private placement of secured convertible debentures, offering a 12% interest rate and conversion into shares at $0.05.
The issuance of convertible debentures can lead to future stock dilution if converted into shares, but it also provides immediate capital. The 12% interest rate is attractive for investors, but the conversion price suggests potential dilution at a low share price.
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RELEVANCE 80