Spirit Technology Solutions (ASX: ST1), a leader in secure digital transformation, has secured a AU$5 million investment through a two-tranche Convertible Note Placement. This move garnered strong support from business leaders in the cyber security and Managed Services sectors, spanning public and private markets. The three-year notes carry an 8% annual coupon and can convert to equity at 4.5 cents within the first 18 months or at 9 cents after that period.
Additionally, conversions within the first year at the 4.5 cents price trigger a bonus option, exercisable at 9 cents per share, subject to shareholder approval. If Spirit's share price exceeds 9 cents for 21 consecutive days, they can redeem the notes. The funds will be allocated for acquisition due diligence, evaluation, legal costs, integration planning, and working capital. This support reflects Spirit's growth strategy in becoming a leading provider of secure digital workplaces in Australia.
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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.
