InvestmentJul 24, 2026, 02:31 PM
Green Circle Decarbonize closes first tranche of $10M private offering
AI Summary
Green Circle Decarbonize Technology Limited announced the closing of the first tranche of its private offering. The company issued unsecured promissory notes with an aggregate principal amount of $10,000,000 and warrants to purchase up to 29,122,679 ordinary shares. In the first tranche, the investor funded $2,000,000 in gross proceeds and received a note, warrants, pre-funded warrants, and ordinary shares. Additionally, the company has an equity purchase agreement allowing for the sale of up to $100,000,000 in ordinary shares to the investor.
Key Highlights
- Closed first tranche of private offering for unsecured promissory notes and warrants.
- Notes have an aggregate principal amount of $10,000,000 with a subscription price of $8,000,000.
- Investor funded $2,000,000 in gross proceeds for the first tranche.
- Issued a note for $10,000,000, a warrant for 29,122,679 ordinary shares, and a pre-funded warrant for 1,143,962 ordinary shares.
- Also issued 676,205 ordinary shares in the first tranche.
- Warrants are exercisable at $2.00 per share.
- Company may sell up to $100,000,000 in ordinary shares to the investor under an equity purchase agreement.
- Placement agent Revere Securities LLC to receive 5.0% cash fee and 0.5% expense allowance.
- Certain directors, officers, and 10% beneficial owners are subject to a 180-day lock-up period.