- Prophecy DeFi (PDFI) has closed a brokered private placement for aggregate gross proceeds of $5,680,000
- The company issued 5,680 convertible debenture units at an issue price of $1,000 per unit
- Each debenture unit consists of $1,000 principal amount of 10.0 per cent unsecured convertible debentures and 1,667 common share purchase warrants
- Each warrant is exercisable into one common share at a price of $0.90 per share
- Net proceeds of the offering will be used by the company for Layer2 Blockchain’s liquidity mining operations
- Prophecy DeFi aims to bring together technology start-ups in the Blockchain and DeFi sectors
- Prophecy DeFi Inc. (PDFI) is down 4.65 per cent on the day, trading at C$0.41 per share at 1 pm EST
Prophecy DeFi (PDFI) has closed a brokered private placement for aggregate gross proceeds of $5,680,000.
The company issued 5,680 convertible debenture units at an issue price of $1,000 per unit.
Each debenture unit consists of $1,000 principal amount of 10.0 per cent unsecured convertible debentures and 1,667 common share purchase warrants. Each debenture matures 36 months following the closing of the offering and bears interest at a rate of 10.0 per cent per annum from the date of issue, payable quarterly in cash.
The convertible debentures are convertible into common shares at the option of the holder at any time prior to the maturity date.
Each warrant is exercisable into one common share at a price of $0.90 per share for a period of 36 months from the closing of the offering.
Prophecy has the right to force conversion of the convertible debentures if the daily volume-weighted average trading price of the shares is greater than $1.20 for 10 consecutive trading days.
The net proceeds of the offering will be used by the company for Layer2 Blockchain’s liquidity mining operations and for general working capital purposes.
Prophecy DeFi aims to bring together technology start-ups in the Blockchain and DeFi sectors to fund innovation, elevate industry research, and create new business opportunities in a coherent ecosystem.
Prophecy DeFi Inc. (PDFI) is down 4.65 per cent on the day, trading at C$0.41 per share at 1 pm EST.
