Nexera subsidiary Fort Technology secures up to $20 million in convertible note financing
NEXR•Nexera Technologies subsidiary Fort Technology signed agreements with two institutional investors for up to $20 million in unsecured convertible notes. The initial $2.2 million tranche has a 10% original issue discount, yielding $1.98 million in gross proceeds.
1. Financing terms
The notes carry 8% annual interest, mature in 28 months and are convertible into Fort common shares. Investors will receive five-year warrants with each issuance, and Fort will issue $1 million in common shares as an initial commitment fee; proceeds will support working capital, including Logia USA’s fuel integrity solutions for data centers and other mission-critical facilities.
