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LONDON, NEW YORK - Vinanz Limited, a Bitcoin company listed on the London Stock Exchange (LON:LSEG)’s Main Market, has secured a $4 million investment to expand its Bitcoin business, with the potential for a future NASDAQ dual listing. The investment was facilitated by US bankers Dominari Securities and comes from a global investment manager.
The company has received the first tranche of $2 million, which will be allocated to growing its Bitcoin assets. The remaining $2 million is available under certain conditions. This bridge funding is aimed at increasing Vinanz’s presence in the Bitcoin sector before its proposed NASDAQ listing, with repayment terms set for 12 months from each drawdown date, including an annual interest rate of 5%.
The investment agreement allows for debt conversion into company shares at a rate determined by the lower of two valuations: 25 pence per share or 95% of the lowest single daily VWAP of the company’s shares in the 10 trading days before the conversion election by the investor. However, the investor is restricted from converting any amount within 90 days of the agreement unless the price is 25 pence per share and from owning more than 4.99% of the company’s shares at any time.
Vinanz’s chairman, David Lenigas, expressed gratitude for the timely funding, noting the company’s efforts to deploy the funds into Bitcoin assets and the importance of capital access in the current financial landscape. The directors of Vinanz Limited have taken responsibility for this announcement, which is based on a press release statement.
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