By Laura Lutz
Washington, Dec. 4 - TZ Ltd. settled a private placement of convertible notes for A$20 million.
The company sold 200 secured convertible notes to DKR SoundShore Oasis Holding Fund Ltd. for $100,000 per note.
The note is convertible at A$0.59 cents per share.
Proceeds will be used to develop the company's intellectual property and technologies, pursue strategic acquisitions, and appoint advisers to complete regulatory requirements for the company's anticipated Nasdaq listing.
Based in Sydney, Australia, TZ develops electronic and smart materials technologies.
| Issuer: | TZ Ltd.
|
| Issue: | Secured convertible notes
|
| Amount: | A$20 million
|
| Price: | Par
|
| Conversion price: | A$0.59 per share
|
| Investor: | DKR SoundShore Oasis Holding Fund Ltd.
|
| Settlement date: | Dec. 4
|
| Stock symbol: | Australia: TZL
|
| Stock price: | A$0.46 at close Dec. 4
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
