DigiSlide to raise $500k in notes issue

DigiSlide to raise $500k in notes issue

Projection technology developer DigiSlide (ASX:DGI) has revealed it has arranged to raise $500,000 by way of a convertible note issue to two financiers.

Under the terms which will be taken to shareholders for approval, the 10 notes will accrue an annual interest of 15% per annum, and be convertible at $0.20 per share. Each of the notes will be issued with an attached 300,000 options exercisable at $0.25.

DigiSlide added that it had arranged with several parties to settle their respective trade accounts, totalling $347,866, in shares.

The issue is the first of a two-stage capital raising initiative, DigiSlide said.

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Tags digisliderights issuecapital raisingConvertible notesASX:DGI

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