Smartpay raises A$7.5M selling convertible notes to fuel Australian expansion

Wed, 11 Jul 2018

By Paul McBeth July 11 (BusinessDesk) - Smartpay Holdings raised A$7.5 million selling sophisticated and professional investors convertible notes, which the listed payment terminal supplier will use to fuel expansion plans across the Tasman. The Auckland-based company issued 15 notes paying 8 percent annual interest with a term of 27 months at A$500,000 apiece, with the option to convert within the term at a price of 25 Australian cents, it said in a statement. The offer was led by Anacacia Capital's Wattle Fund and was fully subscribed,...

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