By Devika Patel
Knoxville, Tenn., Oct. 25 – Synthesis Energy Systems, Inc. arranged an $8 million private placement of 11% five-year senior secured debentures on Oct. 24, according to an 8-K filed with the Securities and Exchange Commission. T.R. Winston & Co., LLC is the agent.
The company will issue warrants for 8 million common shares. Each warrant will be exercisable at $0.50, a 25% premium to the company’s Oct. 23 closing share price (Nasdaq: SYMX) of $0.40, for five years.
Proceeds will be used for working capital and the development of Australian Future Energy and other regional business platforms.
Synthesis is a Houston-based energy and gasification technology company.
| Issuer: | Synthesis Energy Systems, Inc.
|
| Issue: | Senior secured debentures
|
| Amount: | $8 million
|
| Maturity: | Oct. 24, 2022
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| Agent: | T.R. Winston & Co., LLC
|
| Coupon: | 11%
|
| Warrants: | For 8 million common shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.50
|
| Pricing date: | Oct. 24
|
| Distribution: | Private placement
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