Plexure Group raises $1.6m through issue of convertible notes
The company announced a new $1.1 million contract with Arcos Dorados Inc, the biggest McDonald's franchisee in Latin America and the Caribbean, on December 30.
Plexure Group, the digital advertising firm formerly known as VMob, raised $1.6 million through an issue of convertible notes and the funds will be used to support operations.
The notes have a face value of $1 per note and are redeemable nine months from the date of issue, with the conversion date falling on Nov. 3, 2017, it said in a notice to the NZX. Interest is payable at 8 percent and they can be converted to shares at the end of the nine months at a price of 28c a share. Conversion or repayment is at the choice of the holder.
In early January the company said it passed $10 million in annualised committed monthly revenue (ACMR) after signing a new $1 million contract with an undisclosed client.
The company had been targeting $10 million in ACMR – a favoured revenue measure for software-as-a-service companies – by the end of calendar 2016, and announced a new $1.1 million contract with Arcos Dorados Inc, the biggest McDonald's franchisee in Latin America and the Caribbean, on December 30.
The shares were unchanged at 27c.
(BusinessDesk)
Rebecca Howard
Tue, 07 Feb 2017
Tue, 07 Feb 2017
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Plexure Group raises $1.6m through issue of convertible notes
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