Parabolic Technologies repays $11.6 million in debt ahead of schedule
PARA•Parabolic Technologies repaid $11.6 million in debt ahead of schedule, eliminating all secured debt. The repayments were funded primarily with $12.1 million in net proceeds from a recently closed public offering.
1. Debt repayment
Parabolic Technologies repaid its $5.1 million senior convertible note with CP BF Lending and its $4.6 million convertible bridge note with Evergreen Capital Management. It also repaid 3i, LP’s $1.9 million senior convertible Private Placement Note and retired all associated outstanding warrants.
