Business
OwlTing Group (NASDAQ: OWLS) Receives US$10 Million Investment with up to US$50 Million in Total Funding Available Upon Mutual Consent
Initial US$10 million funding at closing; facility provides for up to US$40 million in follow-on investments on similar terms, subject to mutual
About this update from Obook Holdings Inc.
[{"type":"text","content":"Initial US$10 million funding at closing; facility provides for up to US$40 million in follow-on investments on similar terms, subject to mutual consentZero-interest convertible security with a fixed conversion price of US$9.00 per share, representing a premium to recent trading levelsProceeds to support global expansion of OwlPay payment infrastructure, regulatory licensing, and strategic growth initiatives ARLINGTON, Va., April 03, 2026 (GLOBE NEWSWIRE) -- OwlTing Group (NASDAQ: OWLS) (“OwlTing” or the “Company”), the operating brand of OBOOK Holdings Inc., a global fintech company, today announced that it has entered into a Securities Purchase Agreement (the “SPA”) with Lind Global Asset Management XV LLC (the “Investor”), an investment fund managed by The Lind Partners, a New York-based institutional fund manager, for the issuance and sale of a convertible security (the “Convertible Security”) for US$10 million in gross proceeds. The arrangement will provide the Company with access to up to US$50 million in total funding, consisting of the initial US$10 million investment at closing of the Convertible Security (the “Closing”) and up to US$40 million in additional follow-on investments after effective resale registration, subject to similar terms and mutual consent of both parties. The Closing is expected to occur on or around April 6, 2026, subject to satisfaction of customary closing conditions. Benchmark, a StoneX Company, acted as exclusive placement agent. The Company intends to use the net proceeds from the initial closing for general corporate purposes, including the continued expansion of its OwlPay global payment infrastructure, the pursuit of additional regulatory licenses, potential strategic acquisitions, and working capital. Key Strategic Terms: Shareholder-Protective Structure: To protect long-term shareholder value, the agreement features a 120-day moratorium on conversion, during which no common stock conversions may occur following the initial funding.Optional Follow-On Investments: Company has the option to access up to an additional US$40 million, allowing the Company to align its capital planning with operational milestones and market conditions.Funding Package Allows Global Capacity Expansion: Increased access to capital supports OwlPay’s continued growth, with its Contracted Annual Transaction Capacity (...