DigiAsia (NASDAQ:FAAS) on Friday announced it has entered into a definitive securities purchase agreement with Helena Special Opportunities, an affiliate of Helena Partners. Pursuant to the agreement, the company will receive in excess of $3M in funding through the issuance of senior unsecured convertible notes. The company will use the proceeds for the repayment of existing debt and general corporate purposes as growth capital investment. The notes bear interest at a rate of 12% per annum, payable quarterly, and mature one year from the issuance of the note. Helena, pursuant to its note, has the option, on or prior to the maturity date, to convert the entire principal amount and all accrued but unpaid interest on the notes into shares of DigiAsia common stock. Press release.
