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engage:BDR secures additional capital for growth opportunities

engage:BDR is a cross-device advertising solution company, powering integrated display and video ad experiences.
digital marketing
The company is led by chief executive officer Ted Dhanik

engage:BDR Ltd (ASX:EN1) has amended its convertible securities agreement with CST Investment Fund to provide for raising up to US$ 5.2 million in addition to the US$ 675,000 already raised, for a total of US$ 5.875 million.

The revised terms provide immediate funding of an additional US$ 720,000 which would provide the opportunity to significantly increase engage:BDR’s revenue through additional publisher payments for incremental revenue growth.

 

The company will issue 800,000 loan notes to CST (increased from the previously reported figure of 750,000 notes).

The 800,000 loan notes will be purely debt instruments, with no conversion rights, and will have a maturity date of 90 days from the drawdown of funds.

The notes have an issue price of US$ 0.90 per note and a face value of US$ 1.00 per note and are secured.

engage:BDR will seek shareholder approval within 60 days to issue convertible notes to CST in replacement for the loan notes.

The convertible notes will have a maturity date 12 months from issue of the loan notes they replace.

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