CoTec Closes $20M Convertible Debenture Offering at 12.5%
CoTec raised $20 million through unsecured convertible debentures maturing Sept. 10, 2031, with cash-only interest. Proceeds will fund HyProMag USA equipment and working capital.
CoTec completed a private placement of unsecured convertible debentures, raising $20M at an interest rate of 12.5%. The debentures mature on Sept 10, 2031, and interest is payable only in cash. The proceeds will fund equipment and working capital for HyProMag USA. This extends a previously announced financing.