migme finalises $3.5 million Convertible Note issue

migme Ltd announced it has finalised the issue and placement of Convertible Notes at $1.10 per share conversion ratio and raising a total of $3.5 million on terms favourable to the Company.

Key highlights:

  • New institutions join the register
  • 24 month term
  • Conversion at 22% premium to current share price

migme welcomes a number of new investors to the Company, including professional and sophisticated investors, led by Lucerne Investment Partners. migme is delighted with the calibre of these investors and the parties are well positioned to be long term supporters of the Company.

The proceeds will be used to fund acquisitions and accelerate market penetration in key geographies across Asia.

The company believes raising funds via the Convertible Note issue is in the best interests of Shareholders at this stage as it allows the business to better execute its expansion plans and achieve its stated objectives.

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