Proposed Convertible Loan Note Issuance
Proposed issuance of up to £750,000 convertible loan notes to fund Verifyyed acquisition diligence.
- Convertible loan notes proposed £750,000
- Coupon rate 8% per annum
- Conversion price £1.00 per ordinary share
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Acceler8 Ventures Plc (LSE: AC8, "AC8" or the "Company"), the Main Market listed acquisition company, announces that further to the Company's Proposed Acquisition of Verifyyed, Inc. announced on 17 December 2024, it is proposing to raise up to £750,000 through the issuance of unsecured convertible loan notes (the "Notes").
Proceeds from the Notes will be used to support the diligence and acquisition process, and it is anticipated that they will be issued on the following terms:
| · | An accrued coupon of 8 per cent. per annum which shall be rolled until the conversion of the Notes |
| · | Automatic conversion of the Note principal and accrued interest into ordinary shares of the Company at the earlier of completion of the Proposed Acquisition, and three years from the date of Note issuance |
| · | A conversion price of £1.00 per ordinary share |
The Company will make further announcements in due course, as appropriate.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.