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NuZee, Inc. Announces Completion of Private Placement of Convertible Note and Warrants [Yahoo! Finance]

NuZee, Inc. (NUZE) 
NASDAQ:AMEX Investor Relations: mynuzee.com/investor-relations
Company Research Source: Yahoo! Finance
announced that on April 27, 2024 it entered into a convertible note and warrant purchase agreement (the "Purchase Agreement") with certain investors, providing for the sale of aggregate principal amount of convertible promissory notes and accompanying warrants to purchase up to an additional 221,147 shares of common stock in a private placement transaction. The private placement closed on May 2, 2024 . In connection with the closing of the private placement, Nobu Kurita resigned from the Company's Board of Directors and an individual jointly designated by the investors, Changzheng Ye , was appointed to fill the newly created vacancy. The notes will bear interest at a rate of 7.0% per year, mature one year after issuance, and may be converted any time prior to maturity by the holder into shares of the Company's common stock at a conversion price of per share, subject to customary adjustments for stock splits, stock dividends and recapitalizations. Each purchaser of the convertible Show less Read more
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