Multibillion Dollar Fund to Invest $52.7 million into Longfin Corp.
LONGFIN CORP A (LFIN)
US:NASDAQ Investor Relations:
nasdaq.com/symbol/lfin/historical
Company Research
Source: GlobeNewswire
New York, Jan. 22, 2018 (GLOBE NEWSWIRE) -- Longfin Corp. (“Longfin” or the “Company”) (NASDAQ: LFIN) a leading global FinTech company, has announced that the Company has entered into a securities purchase agreement with a multibillion dollar fund. The institutional investor is investing $52,700,000 through convertible note instruments (the “Notes”). Joseph Gunnar & Co., member FINRA/SIPC is the placement agent. Key Transaction Details The Notes consist of (i) Series A Senior Convertible Notes in the aggregate principal amount of $13,307,705.88 and (ii) Series B Senior Secured Convertible Notes in the aggregate principal amount of $39,392,294.12 for consideration. The nature of the investment will involve (i) an upfront cash payment in the amount of $8,000,000, and (ii) secured promissory notes payable by the investors to the Company in the aggregate principal amount of $38,376,000 (referred to above as the “Investor Notes”). Under the Investor Notes, the Investors are required
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