CCH Holdings closes initial US$1.25 million convertible note offering
CCHH•Initial closing of convertible note issuance
CCH Holdings announced an initial closing of a US$2.5 million convertible promissory note issuance with accompanying warrants.
- Initial closing issued a US$1.25 million note for gross proceeds of US$1.15 million.
- Purchase agreement provides for a second US$1.25 million note tranche for US$1.15 million, contingent on an effective resale registration statement.
- Warrants cover shares equal to US$500,000 divided by prior-day VWAP, with an exercise price set at 150% of the note’s fixed conversion price.
