MyEco Group Strengthens Growth Funding Through Convertible Note Raise
MyEco Group Ltd (ASX: MCO) has secured firm commitments to raise AU$0.92 million through its Series 2 convertible note program, reinforcing its funding position amid challenging market conditions. The proceeds will support expansion initiatives, particularly the rollout of its Global Recycled Standard-certified post-consumer recycled bin liner range. This follows the earlier Series 1 raise of over AU$1.6 million, highlighting continued investor confidence while limiting equity dilution.
The notes carry an annual interest rate of 10.5% over a three-year term, with conversion rights commencing after 12 months at a discount to market price, subject to defined limits. The funding complements the company’s existing AU$2.6 million cash balance and available debt facility.
MyEco Group, a sustainable packaging solutions provider with global operations, continues to leverage its integrated manufacturing capabilities and patented technologies to capitalise on increasing demand for environmentally responsible materials.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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MyEco Group Strengthens Growth Funding Through Convertible Note Raise
MyEco Group Ltd (ASX: MCO) has secured firm commitments to raise AU$0.92 million through its Series 2 convertible note program, reinforcing its funding position amid challenging market conditions. The proceeds will support expansion initiatives, particularly the rollout of its Global Recycled Standard-certified post-consumer recycled bin liner range. This follows the earlier Series 1 raise of over AU$1.6 million, highlighting continued investor confidence while limiting equity dilution.
The notes carry an annual interest rate of 10.5% over a three-year term, with conversion rights commencing after 12 months at a discount to market price, subject to defined limits. The funding complements the company’s existing AU$2.6 million cash balance and available debt facility.
MyEco Group, a sustainable packaging solutions provider with global operations, continues to leverage its integrated manufacturing capabilities and patented technologies to capitalise on increasing demand for environmentally responsible materials.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au