- Reklaim Ltd. (MYID) issues senior secured debentures to investors for $1.64 million
- The debentures mature on February 24, 2025 and pay interest at a rate of 12 per annum
- The company will also issue 1.36 million Class A common shares as bonus shares
- The net proceeds will be used for general working capital and general corporate purposes
- Reklaim is a privacy-compliant identity ecosystem that is available online
- Reklaim Ltd. (MYID) is unchanged trading at $0.24 per share as of 2:21 p.m. EST
Reklaim Ltd. (MYID) has issued senior secured debentures to investors for proceeds of $1.64 million.
The debentures mature on February 24, 2025, and pay interest at a rate of 12 per annum, payable semi-annually.
Reklaim has the right to prepay the debentures in whole or in part. A general security agreement secures the debentures against the property of the company.
The company will also issue 1.36 million Class A common shares as bonus shares. Each investor will receive bonus shares equal to 20 per cent of the total amount of the Debentures purchased by the Investor based on the Company’s closing price on February 23.
Reklaim does not need to pay any commissions or fees in connection with the transaction. The net proceeds will be used for general working capital and general corporate purposes.
Neil Sweeney, CEO of Reklaim, participated in the offering, meaning the deal is considered to be a related party transaction.
Reklaim is a privacy-compliant identity ecosystem, available online and as a mobile application on iOS. It gives consumers control and visibility regarding how their data is collected and compensates them for its use, while also providing advertisers and brands with a compliant data source.
Reklaim Ltd. (MYID) is unchanged trading at $0.24 per share as of 2:21 p.m. EST.