PaySauce to raise $5.8m, convert notes to equity

PaySauce to raise $5.8m, convert notes to equity
Jenny Ruth
PaySauce plans to raise $5.8 million from a one-for-seven pro-rata renounceable rights offer to help expand its New Zealand presence and its push into other markets. The payroll software provider is also requiring the convertible notes it issued in June 2019 to convert to shares on Jan. 28 at the rate of 51.5 cents per share, or a total nominal amount of about $1.25 million. The company said the new shares will be priced at 34 cents per share, a 61.5 percent discount to the theoretical ex-rights price of 88 cents and a 50 percent discount...

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