WCO Group - $3m funding secured through convertible notes
TRANSACT
Thu, Mar 28 2024 10:09 am
WasteCo is pleased to announce the successful issue of convertible notes, raising $3m from a number of wholesale investors. This strategic funding will bolster WasteCo’s operations, specifically aimed at:
- Expanding Recycling Capabilities: Enhancing our facilities to increase recycling throughput and efficiency
- Investing in Technology: Increasing our capability to divert waste from landfill
- Operational Growth: Extending our reach with customer service improvements.
The notes, maturing on 15 October 2025, offer holders the flexibility to redeem for cash or convert to WCO shares at $0.05 each, prior to maturity. With an annual interest rate of 10%, payable quarterly, these notes represent a robust investment in our sustainable growth. CM Partners played a pivotal role in the implementation of this note issue, reflecting confidence in WasteCo’s vision and operational plans.
Announcement PDF
Markets News
Primary Sector
Fonterra’s $4.2b Mainland vote set for smooth finish
It’s the second significant vote in the primary sector to be held in recent weeks.
Markets
What Nvidia and Tower Insurance have in common
One is the global stock market darling, the other is an NZX star.
