Energy Mad secures $284,000 in funding from shareholder Superlife

Tue, 25 Nov 2014

By Paul McBeth Nov. 26 (BusinessDesk) - Energy Mad, the energy efficient lightbulb marketer, secured $284,000 in funding from shareholder Superlife to help support its local and overseas growth plans. The Christchurch-based company has fully drawn down the funding, which was via a three-year convertible note, with an option to extend it for a year, Energy Mad said in a statement. The note attracts annual interest of 13.5 percent, and if Superlife decides to convert the debt to ordinary shares, it will be the lower of either 13 cents apiec...

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