Binding Commitment for $900,000 Convertible Note Raising
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| Stock | FBR Ltd (FBR.ASX) |
|---|---|
| Release Time | 20 Jul 2026, 9:46 a.m. |
| Price Sensitive | Yes |
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FBR Ltd Secures $900,000 Convertible Note Funding
Key Points
- FBR enters into binding agreement for $900,000 convertible note raising
- Additional funding of up to $2,970,000 potentially available
- Proceeds intended for general working capital
Full Summary
FBR Ltd (ASX:FBR) announced it has entered into a Convertible Security Agreement with SBC Global Investment Fund, allowing access to up to $3.87 million in funding. The agreement includes four tranches, with the first two tranches of $450,000 each already committed. Subsequent tranches are subject to mutual agreement and additional conditions. The notes issued will have a face value of $1 each, with conversion options based on specific price metrics. The funds will be used for general working capital, supporting the company's ongoing operations and projects.
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