Harvest Technology Group Secures $1.5 Million in Convertible Note Funding

Harvest Technology Group Ltd. ( (AU:HTG) ) has provided an update.

Harvest Technology Group Limited has secured $1.5 million in funding through unsecured convertible notes from a sophisticated investor of Alto Capital, bringing the investor’s total funding to $4.7 million. This funding will support Harvest’s three-year pathway to profit plan, with the notes offering a 15% annual interest and options for conversion into shares. Additionally, the company has amended the maturity date of its existing secured convertible notes to October 2026, maintaining the same interest rate and terms, which reflects strategic financial management to bolster its operational and market positioning.

More about Harvest Technology Group Ltd.

Harvest Technology Group Limited is a global leader in network optimized remote operations, offering real-time remote control, communication, automation, and monitoring capabilities. Based in Perth, Australia, the company specializes in ultra-low bandwidth Network Optimised Livestreaming solutions, enabling customers to maintain connectivity with operations and personnel worldwide while minimizing bandwidth usage.

YTD Price Performance: -25.00%

Average Trading Volume: 785,884

Technical Sentiment Consensus Rating: Buy

Current Market Cap: A$13.31M

Learn more about HTG stock on TipRanks’ Stock Analysis page.