DomaCom is pleased to announce that it has secured $2.95 Million in funding through the issue of a Convertible Security to the Thundering Herd Fund No.1 and Thundering Herd Pty Ltd (together “Thundering Herd”), a Melbourne-based institutional investor.
The Convertible Security has a two year term paying an annual 15% coupon rate on a quarterly basis with a conversion price of 15 cents per note.
DomaCom CEO, Arthur Naoumidis said, “It is pleasing that we have found an Australian institutional investor that is truly a high conviction investor to help us deliver on our potential. This funding completes a key part of our recapitalisation strategy and positions the company well to leverage from our recent Full Federal Court and ASIC milestones.”
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