Inventergy Announces $2.4 Million Debt Financing
INVENTERGY GLOBAL INC (INVT)
US:NASDAQ Investor Relations:
ir.inventergy.com
Company Research
Source: GlobeNewswire
CUPERTINO, Calif., Jan. 09, 2018 (GLOBE NEWSWIRE) -- Inventergy Global, Inc. (OTCPink:INVT), an intellectual property licensing and innovation company (“Inventergy” or the “Company”), announced that on December 29, 2017 the Company entered into a Securities Purchase Agreement (the “Agreement”) with an investment fund (the “Investor”). Pursuant to the Agreement, the Company issued $2.4 million in senior secured convertible (convertible only on an event of default) redeemable debentures (the “Debentures”) to the Investor. The Agreement also contemplates the sale of up to an additional $1.6 million principal amount of Debentures by the Company to the Investor, based upon the performance of the Company. The unpaid principal amount bears interest at 17% per annum, with interest only payments for six months. Monthly payments of principal begin in July 2018, with such payments increasing in later months such that all interest and principal is paid 24 months from closing, which occurred
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