Business
Grab2Go : raised EUR 30 000 in the form of a convertible loan
Grab2Go : raised EUR 30 000 in the form of a convertible
About this update from Grab2go As
Grab2Go Company Announcement Grab2Go AS raised EUR 30 000 in the form of a convertible loan Grab2Go AS (" Company ") has raised EUR 30 000 from its existing investor and shareholder. The additional funds were raised in order to support the Company's continued development and economic activities, including the development of Ülemiste City Selver pilot project, research of possible alternatives for establishing a joint venture for entering the Canadian market and continued development of the product. The funds were raised in the form of convertible loan agreement. The main terms of the agreement are the following: Loan amount: EUR 30 000; Maturity date: 1 st March 2026; Interest: 14% per annum; Interest payments: accrued interest is converted to shares of the Company on maturity date together with loan principal; Conversion and loan repayment: the loan amount shall not be repaid in cash, on maturity date the loan principal and accrued interest shall be converted to the shares of the Company at the price of EUR 0.31 per share. This financing enables the Company to continue its growth- and development activities in strategic directions, supporting the sustainable growth and expansion of the Company. In addition to the concluded loan agreement, the Company plans to raise additional funds on the same terms as this loan agreement in the total amount of EUR 130,000 For additional information contact: Grab2Go AS - Mart Viilipus, ph. +37253053173, e-mail: [email protected]