UBCO accepts valuation cut as it prepares for second funding round

UBCO accepts valuation cut as it prepares for second funding round
UBCO is targeting the American outdoor adventure market with its utility electric motorbike. (Photo: UBCO)
Dan Brunskill
Electric motorbike company UBCO has closed its convertible note funding round early and will launch an equity raise, likely at a reduced valuation, as it struggles to secure investment.Chief executive Katherine Sandford told BusinessDesk the company would raise money at a lower valuation than she had expected at the start of the year. This is not unique to UBCO – many listed and unlisted growth companies have been forced to accept often brutal valuation cuts as interest rates have climbed and markets have crashed. In July, ventu...

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