ImagineAR clarifies details of its convertible note financing, providing investors with information on conversion options, unit composition, and funding status.
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| ImagineAR, a leading AR solutions provider, has successfully raised $125,000 in convertible note financing to fuel its growth and product development. Image Courtesy: ImagineAR |
Vancouver, British Columbia, Canada August 31, 2024:
ImagineAR has recently clarified the details of its convertible note financing, providing investors with a clearer understanding of the terms and conditions of the transaction.
The convertible notes issued by ImagineAR offer holders the flexibility to convert them into units at any time or upon automatic conversion. Each unit consists of one common share and one warrant, granting the holder the right to purchase one common share at a predetermined price of $0.07 within a three-year period.
The company has already secured subscription agreements and received the initial tranche of $125,000, signaling strong investor interest in the convertible note financing. The issuance of the notes is scheduled for September 9, 2024.
A notable aspect of this financing is the absence of finder fees or commissions. This suggests that ImagineAR is aiming to minimize costs associated with the transaction, potentially benefiting both the company and investors.
However, it's important to note that the securities being offered are not registered in the United States and may not be sold to U.S. persons unless registered or exempt from registration. Investors should carefully consider the regulatory implications and potential restrictions before investing.
The clarification provided by ImagineAR offers investors a more comprehensive understanding of the convertible note financing. By outlining the conversion options, unit composition, and funding status, the company aims to foster transparency and confidence among potential investors.
While the absence of finder fees is a positive development, investors should carefully evaluate the risks and opportunities associated with the securities, considering factors such as the company's financial health, market conditions, and the potential for future growth.