KPOs existing management are spearheading a capital raise of AU$625,000

KALiNA Power Limited (ASX: KPO) has recently secured firm commitments to raise AU$625,000 by issuing unsecured convertible notes (Convertible Notes). This capital raising is expected to be completed in August 2023. The Convertible Notes carry an interest rate of 10% per annum and will mature on 30 July 2024, with the possibility of extension under certain circumstances.

The Conversion Price for the notes will be calculated based on the option with the lower value from two alternatives: (i) a 15% premium to the 15-day Volume-Weighted Average Price (VWAP) before finalization of the Convertible Note subscription (0.826 cents), or (ii) a 15% discount to the offer price of securities in the Company's next capital raise. The Convertible Notes proceeds will fund KALiNA Distributed Power's development and KPO's working capital needs.

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