Business
Institutional $4 million Bridge Funding Secured
Institutional $4 million Bridge Funding Secured.
About this update from London Btc Company Limited
[{"type":"text","content":"\n\n14 May 2025\n \n \nVinanz Limited\n(\"Vinanz\" or \"the Company\")\n \n(BTC:L in London and VINZF:US)\n \nInstitutional $4 million Bridge Funding Secured to Expand Bitcoin Business\n \nLondon, New York, May 14, 2025, Vinanz Limited; the London Stock Exchange Main Market Listed Bitcoin company with North American Bitcoin operations, announces that through its US bankers Dominari Securities (refer to Vinanz's press release dated 7 April 2025) it has secured a substantial investment into Vinanz by a global investment manager (\"Investor\"). The Company has entered into an investment agreement (the \"Investment Agreement\") with the Investor pursuant to which the Company can utilise up to US$4 million over two tranches. The first tranche of US$2 million is being used to assist the Company in growing its Bitcoin assets prior to a potential NASDAQ dual listing. The second tranche of US$2 million may be drawn down in the future subject to certain conditions having been satisfied.\n \nDavid Lenigas, Chairman of Vinanz, comments; \"The first $2m of this Institutional Bridge funding has been banked and Vinanz is working to deploy these funds into Bitcoin assets in the near term and further updates will be provided shortly on the deployment. We are appreciative of our US banker's efforts in securing this Bridge funding. In this exciting era of Bitcoin's growing credibility as a viable global financial instrument and store of wealth - time is money and time is short - so Vinanz is looking at all avenues to access growth capital and this Bridge funding comes at just the right time for us.\"\n \nThis funding has been put in place specifically to bolster the Company's exposure to the Bitcoin sector prior to a proposed NASDAQ dual listing. The Company anticipates that the funding will be cleared or amended in its current form either prior to a NASDAQ listing or as part of any NASDAQ IPO.\n \nThe Investment Agreement entered into with the Investor provides for the Company to drawdown up to US$4,000,000 in convertible debt, subject to certain conditions precedent. The Investment is split into two tranches with the first tranche of US$2,000,000 having already been received.\n \nUnder the Investment Agreement, the Company shall repay the amount of each advance, together with interest (at a rate of 5%...