Encore Technologies Completes Oversubscribed Private Placement and Increases Strategic Investment in Solstar Space Company
Encore Technologies closed an oversubscribed non-brokered private placement, issuing 6.4 million shares at $0.26 per share for gross proceeds of approximately $1.67 million. The company will use the funds to increase its secured convertible loan investment in Solstar Space Company to roughly US$1.16 million, supporting the development of space communications infrastructure.
Key figures
- Deal Value Usd
- $1,666,719.86
- Offering Price
- 0.26
- Shares Offered
- 6410461
- Finder fees
- $107,570.39
- Solstar investment
- ~US$1.16 million
- Related party shares
- 400000
- Related party proceeds
- $104,000
AI analysis
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